In recent weeks, talks to defuse the U.S. – Iran war has proved futile.
Iran has reaffirmed its dominance in the Strait of Hormuz and Persian Gulf waters, while the Donald Trump led U.S. government is implementing sanctions and heightened naval activity in the Middle East.
On June 5, American forces intercepted multiple Iranian ballistic missiles and drones launched by the Islamic Revolutionary Guards Corps (IRGC) Navy toward the Strait of Hormuz and neighbouring countries.
Iran reportedly fired seven ballistic missiles toward Kuwait and Bahrain after the U.S. Central Command shot down four Iranian one-way attack drones that were launched toward the Strait of Hormuz.
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The Iranian Army in a statement confirmed firing shots toward U.S. destroyers operating in the Oman Sea. “As part of ongoing operations to counter maritime disruptions, harassment, and the seizure of commercial vessels and oil tankers by the United States military, the intruding destroyers DDG-103 and DDG-8 departed the Sea of Oman for the Indian Ocean.”Iran forces added that USS Tripoli was forced to leave Oman Sea.
Shipping Under Spotlight
Washington has increased pressure on Tehran by designating a network of individuals, entities, and vessels responsible for shipping hundreds of millions of dollars’ worth of Iranian-origin liquid petroleum gas (LPG) intentionally disguised as Omani LPG to end users in South and East Asia.
According to the U.S. Treasury’s Office of Foreign Assets Control (OFAC), the network used front companies in the United Arab Emirates and China, foreign bank accounts, and Iran’s shadow fleet to move millions of barrels of Iranian LPG while concealing its Iranian origin and evading U.S. sanctions.
U.S. Secretary of the Treasury Scott Bessent said Iran’s economy is floundering and its military is decimated. Through Economy Fury, the U.S. will continue to sever Iran’s shadow fleet, shadow banking networks, and access to global trade.
The Treasury will maintain maximum pressure on Iran and targeting the regime’s ability to generate, move, and repatriate funds. It has already disrupted tens of billions of dollars’ worth of revenue from being otherwise accessible to the Iranian regime and its proxies.
