Iran called on countries to reject fresh U.S. sanctions as mediators focused on reopening the Strait of Hormuz, a critical oil transit chokepoint where ship traffic has fallen to 5-15% of normal volumes.
The Iranian Foreign Ministry labeled the latest U.S. economic measures as 'state terrorism' and a 'crime against humanity,' warning they endangered civilian livelihoods. Supreme Leader Ayatollah Mojtaba Khamenei separately urged authorities to avoid actions that could undermine social cohesion or weaken public motivation. Iranian Foreign Minister Abbas Araqchi described talks with Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani in Tehran as 'creative,' adding on social media that 'pressure does not work.'
Qatar has been mediating efforts to restore maritime traffic through the Strait of Hormuz, which previously handled 20% of the world's oil supply. Thursday saw just seven cargo ships transit the strait, down from 17 the prior day and well below the 15-ship daily average of the preceding 10 days. Before the six-month conflict began in February, daily transits typically numbered in the dozens.
A U.S. official told Reuters that Washington plans to restrict Banque Misr's UAE branches from processing transactions via U.S. financial institutions. Iran's annual inflation reached 66% in the month prior to the report, underscoring the economic strain amid the crisis.
Oil prices fell on Friday, extending a weekly decline as the standoff over sanctions and shipping routes deepened. Analysts warn that prolonged disruptions to Hormuz traffic could further tighten global oil markets, though current volumes remain far below pre-war levels.
