Pakistan Army Chief in Tehran as US Unveils 'Economic D-Day' Against Iran

Pakistan's army chief, General Asim Munir, arrived in Tehran on Monday for talks aimed at reviving mediation between Iran and the United States. The visit comes as Washington prepares to unveil what it calls the "greatest financial offensive ever" against Iran's economy and its trading partners.

US Treasury Secretary Scott Bessent is scheduled to announce the new measures at a press conference on Monday afternoon. In an opinion piece published over the weekend, Bessent described the upcoming action as an "economic D-Day," signalling a severe escalation in pressure on Tehran.

Iran has responded with defiance. Mohsen Rezaei, secretary of Iran's Supreme National Security Council, warned that if the "economic war continues, not a single drop of oil will be exported" from the Gulf. He added that Iran would view any nation's support for the US campaign as an act of war. Tehran has also issued a fresh warning to shipping, advising vessels not to pass through the Strait of Hormuz without its permission.

The diplomatic push includes a visit by Oman's foreign minister to Tehran on Tuesday to discuss the strategic waterway. Meanwhile, a projectile struck a tanker west of the Saudi port of Yanbu in the Red Sea on Monday, causing a fire on deck. The source of the attack was not identified, though Iran's Houthi allies have previously threatened to block Saudi oil exports rerouted away from Hormuz.

China, a major buyer of Gulf oil, said on Monday that sanctions and pressure tactics will not resolve the situation. Beijing's foreign ministry stated it would take necessary steps to protect its national interests.

Iran's Deputy Foreign Minister Kazem Gharibabadi dismissed the latest US moves, noting that Washington has predicted Iran's downfall for 48 years under various names, while the country has remained steadfast. Despite the public bravado, Iranian officials have privately expressed concerns that further economic punishment could worsen hardships and erode the Islamic Republic's legitimacy.

Iran entered the current conflict with high inflation, a weak currency, and existing sanctions. It now faces damaged infrastructure and disrupted trade, adding to the economic strain. Oil prices slipped by more than a dollar a barrel on Monday as investors awaited the US announcement.