Trump Signals Economic Pressure, Not Further Military Action, on Iran
JH Kim
Summary
- Trump said he will put more weight on economic pressure than military action against Iran.
- He said Iran's economy is deteriorating under the U.S. maritime blockade, while global oil prices have remained near $75 a barrel.
- With talks to reopen the Strait of Hormuz at a standstill, Trump said he can wait until economic pressure builds further.
Forecast Trend Report by Period
President Donald Trump said on Aug. 9 that the U.S. is taking a "low-key" approach toward Iran for now, signaling that he plans to rely more on economic pressure than additional military action, Walter Bloomberg reported.
Trump said Iran's economy is worsening under the U.S. maritime blockade, while the impact on American consumers has been limited because global oil prices have remained near $75 a barrel.
Negotiations to reopen the Strait of Hormuz remain deadlocked, with Iran demanding sanctions relief, compensation, the release of frozen funds and a U.S. troop withdrawal.
Trump compared the situation to a "chess game" and said he can wait until economic pressure builds further.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.