News Summary

• u.s. Treasury Secretary Scott Bessent announced Monday night a campaign aimed at isolating Iran from the global economy.
• Washington is moving to cut off the commercial lifeline that has helped keep Iran's economy afloat during nearly six months of war.
• The threat puts the United States on a potential collision course with some of Iran's main trading partners.
• China is considered Iran's largest buyer of oil, accounting for about 90% of the country's crude exports.
• The United Arab Emirates, meanwhile, suspended all commercial and financial transactions with Tehran last week after Iran fired two ballistic missiles toward its territory.