US intensifies economic pressure on Iran as Oman urges dialogue

The United States has stepped up efforts to economically isolate Iran, with US Treasury Secretary Scott Bessent saying Washington has pressed governments around the world to restrict Iranian airlines and financial institutions.

US Treasury chief claims successes in isolating Iran

US Treasury Secretary Scott Bessent said Saturday that he had sent envoys around the world to pressure countries to economically isolate Iran, hailing new restrictions targeting the country's airlines and banks.

"At my direction, teams were dispatched across the globe to engage with countries and demand action against the Iranian regime," he said on X. "These efforts are delivering results."

Bessent noted that Turkey and Oman have halted incoming flights from private carrier Mahan Air, while the United Arab Emirates has stopped all flights by Iranian airlines.

Dubai, the UAE's commercial hub, is a major destination for Iran's carriers, with multiple daily flights, a large Iranian community and close business links. Bessent also highlighted new banking restrictions.

On Wednesday, the UAE central bank blocked transactions to and from Iran by branches of Iran's Bank Melli, accusing it of violating laws on money laundering, terrorism and arms proliferation.

Last week, Turkey revoked the license of Iran's Bank Mellat, a semi-private financial entity that has been subject to Western sanctions for years.

A Wall Street Journal article shared by Bessent said Jonathan Burke, the Treasury's assistant secretary for terrorist financing, traveled across the Middle East and Europe over two weeks to push the plan to impose what Bessent called "economic D-Day" on Tehran.

US Treasury has held discussions with more than 50 countries, the Journal reported.

Bessent said on Monday that all Iranian airlines "will be shut down around the world."

However, smaller Iranian carriers continue to operate international routes, particularly to China, which is refusing to yield to US pressure.

Oman calls for self-restraint, dialog in Mideast conflict

Omani Foreign Minister Badr Albusaidi called at the UN Saturday for "self-restraint" from all sides in the Middle East war, while stressing that Muscat was ready to mediate.

Earlier on Saturday, President Donald Trump rejected a truce deal proposed by Iran that Tehran said could have reopened the Strait of Hormuz to shipping within a week.

The waterway is key to the world's energy supply and is now central to the conflict between the US and Iran, which is at a stalemate after nearly seven months.

"We call upon all parties concerned to settle their outstanding disputes through pursuing a policy of self-restraint and foresight, and through engaging in dialog to reach consensual, political solutions and sustainable understandings for the benefit of all," Albusaidi said, addressing world leaders gathered in New York.

"Oman once again reaffirms its steadfast commitment to continuing its efforts aimed at safeguarding navigation in the Strait of Hormuz... We also call upon all parties to cooperate with Oman in these efforts."

Oman sits across the Strait of Hormuz from Iran, and ships seeking to skirt Tehran's restrictions have recently been taking a route that hugs the Omani coast.