Washington: US officials have expressed confidence that economic sanctions will have a more enduring impact on Iran compared to military action. This belief comes amidst what has been described as a worsening economic crisis in the country.
According to TRTworld.com, a senior US official noted that Iran's primary concern is financial relief, even more so than halting military strikes. This assertion follows US President Donald Trump's claim that Iran sought negotiations for a new deal after he suspended US military action over the weekend following a succession of attacks. Iran, however, has denied these claims of seeking talks.
Efforts by mediators from Oman, Qatar, and Pakistan are underway to transform the current pause in hostilities into a permanent ceasefire. One of the proposals being considered involves Iran and Oman managing traffic through the Strait of Hormuz, similar to the framework used for the Straits of Malacca and Singapore.
According to the report, Iran is looking for assurances against future US attacks, access to its frozen assets, and relief from sanctions. President Trump, however, remains opposed to offering concessions unless Tehran agrees to surrender its remaining nuclear materials.
A US official conveyed to TRTworld.com that while sanctions and a naval blockade may take longer to exert pressure on Iran than bombing, they could ultimately be more effective. This approach, however, carries potential political risks for Republicans and could lead to higher fuel prices.
In light of the financial pressures, intelligence reports suggest that Iran is struggling to pay its fighters, leading to bank runs and gasoline shortages. Iran's access to frozen funds has been identified as a high priority, with US negotiators Steve Witkoff and Jared Kushner having been approached by Iran for financial assistance.
The Trump administration has implemented sanctions on over 1,000 individuals, vessels, and aircraft as part of its "maximum pressure" campaign, targeting various sectors of Iran's economy.
Critics argue that neither military nor economic pressure is likely to compel Iran to meet President Trump's demands. Analyst Brett Erickson highlighted that Iran earned approximately $23 billion in oil revenue in the first half of the year, surpassing budget expectations, and questioned the effectiveness of economic warfare.
White House Press Secretary Karoline Leavitt reiterated President Trump's preference for a diplomatic resolution while maintaining that all options remain on the table if Iran continues its aggressive actions.
Another US official emphasized that the administration is prepared to pursue both military and economic strategies, showcasing the US's capabilities to either take military action or impose crippling sanctions against Iran.