The statement came soon after the US reimposed sanctions. Collectively, they marked one of the most significant challenges to the fragile ceasefire between the US and Iran. The economic move, in particular, eliminated one of the central concessions made to the Iranian regime in exchange for its reopening the Strait of Hormuz.
“Iran will only reap benefits if they exhibit good behavior,” a US official said in a statement. “Iran’s actions in the Strait were wholly unacceptable to the United States and will be met with consequences.”
It has jolted global oil prices — Brent rose 3% on the news to $76 a barrel but remains close to pre-war levels. US oil surged nearly 6%, rising back above $70 for the first time since June 30.
The US Treasury Department had initially agreed to lift sanctions on the sale of Iranian oil for 60 days as part of the ceasefire agreement, which Treasury Secretary Scott Bessent characterized at the time as a show of confidence in the two nations’ “productive talks.”
If this drags into the midterms then Iran wins even more.
I think that is exactly what Iran wants. Iran can weather this storm but trump likely cannot weather a Dem majority congress.
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