US says ‘West Asia war will end’ as Iran vows ‘painful response’; Is there a Chinese angle behind Washington’s confidence? | Today’s news
The United States says its economic pressure on Iran is working and expects the conflict to end with Tehran unable to develop a nuclear weapon. However, Iran has warned Washington that further attacks will lead to a “quicker, heavier and more painful response”.
At the center of Washington’s confidence is Iran’s oil trade – and significantly so is China.
US Treasury Secretary Scott Bessent said Iran only has about 30 million barrels of oil left that China has not yet bought. With US sanctions and a naval blockade limiting Tehran’s ability to supply more oil, Bessent said supplies would “run out soon”.
“The blockade is working like nothing we’ve ever seen,” Bessent said in an interview with Fox News, describing the sanctions and blockade as a powerful combination to isolate Iran economically.
Why is the US convinced of an Iran war?
Washington’s strategy is reportedly aimed at reducing Iran’s oil exports and cutting a key source of government revenue.
The United States imposed a naval blockade in July while expanding sanctions targeting Iran’s oil exports and efforts to prevent sanctions evasion.
Bessent said the US intended to “suffocate” Iran’s ruling establishment, arguing that sanctions combined with the blockade are among the most powerful tools of economic isolation.
He also said the administration expected the conflict would leave Iran unable to develop a nuclear weapon.
“I think we will come out on the other side of this Iran conflict with a safer world, with an Iran that cannot have a nuclear weapon,” Bessent said.
Read also | Bessent sees oil as low as $40 post-Iran war, reducing yields
What is China’s role in the US-Iranian conflict?
Bessent said there are only about 30 million barrels of Iranian oil left that China has not yet bought. In his estimation, that supply would soon run out, meaning China’s ability to continue buying Iranian oil would be limited by a lack of available product.
The US is also looking beyond Iran’s current oil routes. Bessent said oil-producing countries around the Persian Gulf are developing alternative pipeline routes that would allow oil to bypass the Strait of Hormuz.
He also dismissed the suggestion that Iran controls the waterway, saying the United States controls the strait.
Read also | Trump plans ‘much bigger’ Middle East reset after Iran war: What’s on the table?
How did Iran react?
Tehran has acknowledged the economic damage caused by the US campaign, but says it will respond through domestic reforms rather than changing course under US pressure, according to a Reuters report.
Iran’s Ministry of Economy has established an “Economic War Headquarters” to coordinate and expedite responses to problems caused by the conflict.
Deputy Economy Minister Morteza Zamanian said the center would initially focus on issues affecting businesses, trade and finance, coordinating responses across government economic bodies.
Economy Minister Ali Madanizadeh said Iran plans to respond to US economic pressure with reforms.
“They talk about economic pressure and isolation, about cutting off financial ties, and they think that by putting pressure on the country’s economy, they can change the decisions of its people,” Madanizadeh said.
He added that the responsibility for reforming Iran’s economy lies with the Iranian government and people, “not with the US Treasury.”
Iran warns of ‘faster, harder and more painful response’
As Tehran struggles to deal with the economic fallout, Iran’s leadership has also issued a new military warning.
Iranian Parliament Speaker Mohammad Baqer Qalibaf said the US should understand that the “rules of the game” have changed.
“From now on, any attack against Iran’s interests and security will be faster, harder and more painful,” he said.
The warning came at a time of renewed hostilities between the US and Iran.
After a lull in military action for most of July, tit-for-tat strikes between Tehran and Washington have resumed. The US Central Command said it struck three Iranian tankers on Saturday after Iran’s Islamic Revolutionary Guard Corps fired ballistic missiles at two US Navy ships.
The IRGC subsequently threatened increased strikes against US military vessels in the region.
Iran’s oil pipeline is also under pressure
Iran is the third-largest producer in OPEC and before the war exported 90% of its oil through an export hub on Kharg Island, Reuters reports.
Oil flows have been disrupted since the US embargo on Iranian oil exports began in mid-April.
Iran’s Oil Minister Mohsen Paknejad said Kharg Island had been hit about 550 times in previous months but continued to operate.
Another significant pressure point remains the Strait of Hormuz. Iran has blockaded the waterway, while the US says it remains in control of the strait.
Before the conflict, the route was responsible for a fifth of global oil supplies.
‘The War Will End’
The United States believes that a combination of sanctions, a naval blockade and pressure on Iran’s oil exports could put Tehran in a weaker economic position. Bessent also predicted that the economic shock from higher energy prices will eventually subside.
“This war will end and those will turn into real wage gains,” he said, referring to the impact of higher energy prices on Americans.
