President Donald Trump is doubling down on wielding economic pressure to squeeze Iran as his military options dwindle, and Tehran\u2019s business community warned the naval blockade will cause far-reaching harm.<\/p>\n
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In an interview with Iran\u2019s Khabar Online outlet, the head of the Iran-China Joint Chamber of Commerce said \u201cthe consequences of the blockade far outweigh those of a direct war.\u201d<\/p>\n
Majidreza Hariri added that the economic crisis and shortages\u00a0currently ravaging Iran under the blockade are more severe than they were during the 40-day war earlier this year.<\/p>\n
As a result, Iran must find a way to end the blockade one way or another, whether by way of negotiations, pleading, threats or even renewing war against the U.S., he said. That\u2019s because trying to cope with the blockade would lead to dangerous spillover effects.<\/p>\n
\u201cThe worst thing that could happen today is believing that the naval blockade can be circumvented and attempting to govern the country despite its continuation,\u201d Hariri said. <\/p>\n
He pointed to Iran\u2019s decades-long experience under Western sanctions, saying the methods that were used skirt them eventually resulted in a weak economy and rampant corruption.<\/p>\n
The U.S. naval blockade also threatens to inflict enormous costs in the short term. For example, transporting a single container between Iran and China via ships costs about $3,000, according to Hariri. But bypassing the blockade by transporting it over land would boost the cost to $12,000.<\/p>\n
Given that 2 million containers pass through Iran\u2019s southern ports annually, he estimated that heavier trade burdens will translate to about $18 billion in additional transportation costs alone every year.<\/p>\n
Relying on land routes to get around the blockade could provide enough necessities to allow for short-term survival, but the economy will eventually \u201cgrind to a halt,\u201d Hariri predicted.<\/p>\n
But he also suggested Iran would retaliate against continued U.S. pressure rather than simply standing by and watching the economy crumble.<\/p>\n
\u201cWe must also eliminate the perception in the U.S. that it can resort to such an action whenever it wants, and make it understand that the consequences of such a move could be severe,\u201d Hariri said.<\/p>\n
His warning comes as regime moderates have grown more worried that the U.S. naval blockade that was recently reimposed is bringing Iran\u2019s economy close to collapse,\u00a0sources told the\u00a0Wall Street Journal<\/em>.<\/p>\nIran\u2019s deputy foreign minister has also said the economy desperately needs sanctions relief that a deal with the U.S. could provide.<\/p>\n
That tracks with earlier reports about Iran\u2019s president and central bank chief telling Supreme Leader Ayatollah Mojtaba Khamenei the initial blockade was\u00a0crippling the economy.<\/p>\n
High inflation and a currency crash triggered widespread protests that led to a brutal crackdown in January, and some officials in Tehran are concerned today\u2019s economic woes could stir more unrest. <\/p>\n
But experts have cautioned that Iran\u2019s repressive regime is unlikely to be swayed by the suffering of ordinary citizens and is prepared to wait out economic hardship longer than the U.S. public can endure high gas prices. <\/p>\n
Still, Trump is betting that the blockade can accomplish what intense bombing from the U.S. military failed to do, namely, forcing Iran to reopen the Strait of Hormuz.<\/p>\n
At the same time, a significant volume of oil is sneaking out of the Persian Gulf, contradicting Iran\u2019s claims that it has closed off the strait, while the blockade is also denying Tehran vital oil revenue. <\/p>\n
Crude prices have come down from last month\u2019s highs, and the oil market reprieve gives Trump more time to let his blockade play out. Meanwhile, even more pressure could be on the way. <\/p>\n
\u201cIt will be a combination of economic isolation like \u200cthe world has \u200bnever seen before, \u200band \u200bthe continued blockade in \u200cthe Strait of \u200bHormuz that will \u200bkeep anything from going in or out of \u200bthe \u200cIranian ports,\u201d Treasury Secretary Scott Bessent\u00a0told Newsmax\u00a0without elaborating.<\/p>\n<\/div>\n
#Iran #business #leader #admits #U.S #blockade #inflict #economic #damage #war<\/p>\n","protected":false},"excerpt":{"rendered":"
President Donald Trump is doub… <\/p>\n","protected":false},"author":1,"featured_media":2371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1428,3752,269,1095,2646,4612,456,1552,1732,3094,687,356],"class_list":["post-2370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-admits","tag-blockade","tag-business","tag-damage","tag-economic","tag-inflict","tag-iran","tag-leader","tag-sanctions","tag-shipping","tag-u-s","tag-war"],"yoast_head":"\n
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