US, ready for major financial offensive - Iran threatens to stop all oil exports
The US threatened Iran with what it called "the largest financial offensive ever undertaken" as the country prepared to implement economic sanctions on Monday targeting Iran's trading partners.
Iran, on the other hand, vowed to cut off all oil exports from the Gulf "if the economic war continues."
US Treasury Secretary Scott Bessent will hold a press conference amid promises to unveil even tougher measures against a country that has endured near-constant economic sanctions since the 1979 Islamic Revolution.
“At dawn begins an economic D-Day — the largest financial offensive ever undertaken against an adversary,” Bessent said.
Thousands of people have died, most of them in Iran and Lebanon, since the US and Israel launched airstrikes on February 28, degrading much of Iran's conventional military capacity and inflicting economic pain, while killing Iran's Supreme Leader, Ayatollah Ali Khamenei.
Without elaborating on specific measures, Bessent signaled that the US would target "fearful nations" that practice "appeasement" by engaging with Iran's economy and financial system. "They would do well to consider the consequences of continuing it," he wrote in the Financial Times.
Iran has been preparing for the sanctions for days, issuing a series of strongly worded statements hinting at a major military response.
Bessent previously urged China to cooperate with the US, noting that China has historically sourced half of its oil imports from the Gulf region. A spokesman for the Chinese embassy in Washington responded with a statement that "sanctions and pressure do not help solve the problem," while calling for diplomacy. Iran's economy was already under pressure from international sanctions before US and Israeli attacks destroyed parts of its infrastructure.
25% of cars in Europe are electric - France and Germany drove growth in July
Registrations of battery electric vehicles in Europe continued to rise in July, accounting for more than one in four new units sold. Strong growth in France......
More young people without jobs and vocational training - Uncertain future prospects in Germany
Ten percent of young people aged 20 to 24 in Germany were neither employed nor in education or training in 2025, according to the Federal Statistical Office......
Foreign dairy is flooding the market/ From milk to eggs, the bill that Albania pays is at historic levels
From milk to cheese, eggs and honey, Albania's bill for imported products is at historically high levels. In July 2026 alone, imports in this category......
Albania vs Europe, where did prices increase the most? From 0.3% in Sweden to 8.2% in Romania, Albania stops at 3.4%
Price increases in Albania accelerated in July, pushing inflation above the European Union average. According to the Harmonized Index of Consumer Prices,......
"Energy reforms yield concrete results" - Karakaçi: Albania fulfills obligations for 600 MW of new capacities
Reforms in the energy sector and measures taken within the framework of the European integration process have brought concrete results during the period......
State assets under review - Objects over 70 years old, among the criteria for cultural property status
State-owned properties built or created more than 70 years ago will be subject to a verification process to determine whether they have cultural interest. A......
Interest in licenses in energy production - ERE: 22 procedures in process, led by solar power plants
The interest in investments in electricity production is also reflected in the number of applications awaiting a decision from the Energy Regulatory......
Employment of foreigners, approval within 1 day - Employer must declare salary and working conditions
From 10 days to just one working day. This is the new deadline that the National Employment and Skills Agency will have available to grant approval for the......
