Iranupdated 15m ago2 min read
Marco Rubio Warns Iran’s Economy Will Collapse as US Blockade, Sanctions Continue
10outlets comparedA wider view of the story
3 West Asian2 Israeli2 Other3 Other source typesThis article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
G7 discussions included naval blockade and sanctions as tools to pressure Iran, per Rubio. Iranian officials vow to retain enriched uranium, complicating diplomacy and potential agreements.
Save coverage image
The Guardian was read line by line by the Watchdog: 3.0. See the score →
Blockade and budget pressure
The Al Jazeera report said US Secretary of State Marco Rubio told his Group of Seven counterparts in Paris that a naval blockade, stringent sanctions and overland border disruptions could continue without a clear endpoint in sight. Rubio later said Iran’s economy “continues to collapse” and predicted worsening conditions over the next one to three months. Tehran-based economist and market analyst Isaac Saidian said that if persistent economic pressure brings Iran’s oil incomes down to near-zero levels, Tehran would face “one of the most difficult challenges in its recent history.”
Iran’s President Masoud Pezeshkian’s administration set out two scenarios in a budget directive on November 3, one involving the continuation of sanctions and the maritime blockade and the other involving fewer restrictions including a substantial or complete removal of the blockade. The US military first imposed a naval blockade of Iran’s southern ports on April 13 and a second blockade has been in place since July 14 as Iran and the US fight for control of the Strait of Hormuz.
Nuclear red lines and threats
CBS News reported that the head of Iran's Supreme National Security Council vowed Wednesday that Tehran would not allow the removal of “even a single particle of enriched nuclear material” from the country. Iran’s security chief Mohsen Rezaei warned: “If American aircraft take off from an American military base, even one located in a European country or some other distant region, to bomb Iran, we will strike those bases as well.”
The Guardian reported that Donald Trump said the war in Iran is “effectively over” as he played down concerns that the US would escalate its military campaign against Tehran. At this point, taking the military action doesn’t seem to be a very necessary thing – but we’re locked and loaded, ready to go for any reason.
Negotiations, mediation, and uncertainty
Al Jazeera reported that Iran’s authorities stressed there were no prospects of economic collapse while raising the prospect of “breaking the blockade” if necessary, though it said it remained unclear by what means.
The Jerusalem Post reported that Sima Shine, a senior researcher and former director at the Institute for National Security Studies, told the outlet that Tehran and Washington are more likely to reach an agreement to end the conflict now than two months ago.
The Jerusalem Post quoted Shine saying negotiations could still fall through if the US refused to bend on giving Iran the right to uranium enrichment or if personal egos get in the way.
The Guardian reported that Trump said he had met with Qatari prime minister Sheikh Mohammed bin Abdulrahman Al Thani, who had lobbied him alongside other Gulf countries not to resume fighting against Iran.
The Guardian said Trump added, “We’re seeing momentum toward the end of this conflict. I think it’s going to be ending fairly soon,” while also repeating that Iran would not be allowed to develop a nuclear weapon.