US to impose toughest economic isolation measures yet on Iran

US Treasury Secretary Scott Besant has confirmed that the United States will impose its toughest economic isolation measures yet on Iran, announcing coordinated efforts in this regard.

Besant said Washington will reveal further steps during a press conference on Monday.

He noted that the "maximum economic pressure" policy on Tehran is likely to slow the resumption of economic activity. Besant added that oil markets are misinterpreting the nature of the economic pressures Washington is preparing to impose on Iran.

These remarks come as US pressure on Iran continues amid the ongoing Strait of Hormuz crisis. Besant expressed confidence that all parties, including China, want the strait to reopen.

Asked whether the upcoming US measures would include China, Besant said some discussions are best kept confidential. He had previously announced that Washington is preparing unprecedented economic actions against Iran, coinciding with the ongoing maritime blockade of Iranian ports.

In a related context, Besant pointed to market experts' forecasts that inflation rates are expected to decline in the future.