RESOLVING THE LEDGER
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Test of US rhetoric will rest on whether nations such as India, China and Russia view economic threats as credible
Tehran has vowed to retaliate against any country that cooperates with the US attempt to impose fresh sanctions against Iran in what the Treasury secretary, Scott Bessent, has billed as “the single greatest financial offensive ever marshalled against an adversary”.
In advance of the US announcement, the United Arab Emirates, Iran’s single biggest trading partner in the Middle East, announced it was ending all trade with Iran, a move Tehran believes was coordinated between Washington and the UAE.
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