World
US economic chokehold on Iran reaches peak leverage as collapse risks emerge
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U.S. economic pressure on Iran has reached one of its most powerful points in decades, but inconsistent enforcement has prevented sanctions from achieving their full impact, according to a former Treasury sanctions expert.
Miad Maleki, who played a central role in Treasury Department sanctions campaigns against Iran and its network of proxy groups, said in an on-camera interview the current moment reflects a rare convergence of economic, political and diplomatic leverage against Tehran.
“We’ve never had the level of leverage that we have today with Iran in the history of our conflict … since 1979,” Maleki said.
His assessment comes as President Donald Trump signaled escalating pressure Thursday, writing on Truth Social that the United States has “total control over the Strait of Hormuz” and that it is effectively “sealed up tight” until Iran agrees to a deal.
IRAN PRESIDENT VOWS DEFIANCE AS PROTESTS BUILD AGAINST REGIME AMID US MILITARY BUILD UP
Maleki argues the current moment marks a turning point because multiple pressure tools — sanctions, a U.S. naval blockade, and tighter enforcement — are being applied simultaneously for the first time in years. Unlike previous cycles, he said, the strategy is now directly targeting Iran’s oil exports and the networks that help move them, raising the risk of a rapid economic squeeze.
He said Iran may run out of oil storage in as little as two to three weeks, forcing production cuts, while gasoline shortages could hit on a similar timeline due to heavy reliance on imports. Combined with an estimated $435 million in daily economic losses, the pressure could spill into the financial system, leaving the regime struggling to pay salaries and raising the risk of renewed unrest.
An oil tanker is seen near the terminal at Kharg Island, Iran, as U.S. officials and analysts consider whether seizing the island could significantly impact Iran’s oil exports. (Ali Mohammadi/Bloomberg)
Maleki said the real leverage lies in sustained economic pressure and enforcement.
At the core of that pressure is an Iranian economy he describes as “on the verge of collapse,” driven by years of sanctions and compounded by recent disruptions.
He pointed to triple-digit food inflation, a sharply devalued currency and a roughly 90% collapse in purchasing power, along with potential long-term oil revenue losses of up to $14 billion annually.
Maleki, who is currently a senior fellow at the Foundation for Defense of Democracies, estimated that current conditions are costing Iran “about $435 million a day in combined economic damage … with the blockade and closure of the Strait of Hormuz.”
A key driver of that pressure is the Strait of Hormuz, long viewed as one of Iran’s primary tools of leverage in global energy markets. Maleki said the dynamic has shifted.
IRAN IS ‘TRYING TO GIVE THE GLOBAL ECONOMY A HEART ATTACK’ BY CLOSING STRAIT OF HORMUZ, UAE MINISTER SAYS
President Donald Trump weighs a potential attack on Iran’s oil hub at Kharg Island amid expert predictions of market chaos. (Morteza Nikoubazl/NurPhoto)
“Iran’s economy relies on the Strait of Hormuz more than any other economy,” he said, calling its closure a form of “economic self-sabotage.”
While countries in Asia — including Japan, South Korea, India and China — are most exposed to disruptions, many have built up reserves. “Japan’s oil reserve is pretty significant. Same with China,” Maleki said.
Still, the region remains heavily dependent on the waterway, with roughly 75% of liquefied natural gas supplies for countries including India, China and South Korea flowing through the strait.
Inside Iran, however, vulnerabilities are more immediate. Despite vast oil reserves, the country imports between 30 million to 60 million liters of gasoline per day to cover a domestic shortfall of up to 35 million liters.
“If they run out of gasoline… they’re going to have a major crisis domestically,” Maleki said, noting that past shortages and price hikes have triggered widespread protests.
NUCLEAR EXPERTS WARN IRAN’S URANIUM ‘RIGHT’ IS A MYTH, SAY TRUMP IS RIGHT TO HOLD FIRM
The economic pressure is being reinforced by a U.S. naval blockade targeting Iran’s oil exports, the regime’s primary source of revenue.
A billboard showing a portrait of the late Iranian Supreme Leader Ayatollah Ali Khamenei, who was killed in U.S.-Israeli strikes, looms over an empty square in Tehran, Iran, Thursday, March 5, 2026. (Vahid Salemi/AP Photo)
A senior administration official said the Treasury Department is intensifying enforcement under what it describes as an “Economic Fury” campaign, using financial and maritime tools in tandem to squeeze Iran’s revenue streams.
The official said the strategy focuses on “systematically degrading Iran’s ability to generate, move, and repatriate funds,” including by constraining maritime trade through the naval blockade, which targets Iran’s primary source of revenue from oil exports.
Financial pressure is also expanding globally. The official said Treasury has warned banks in China, Hong Kong, the United Arab Emirates and Oman that facilitating Iranian trade could expose them to secondary sanctions, signaling a more aggressive approach to enforcement beyond Iran’s borders.
Treasury has issued sanctions on more than 1,000 targets since 2025 under the current maximum pressure campaign, the official said, aimed at disrupting Iran’s oil trade and financial networks.
The official added that Iran is facing immediate logistical constraints, warning that storage capacity at Kharg Island — the country’s main oil export terminal — could be filled within days if exports remain blocked, potentially forcing production shut-ins.
“Treasury will continue to freeze the funds stolen by the corrupt leadership on behalf of the people of Iran,” the official warned.
A new analysis from United Against Nuclear Iran said the blockade is already deterring high-value shipments, even as some Iran-linked vessels continue to transit the region.
TRUMP CLAIMS IRAN ‘STARVING FOR CASH,’ ‘COLLAPSING FINANCIALLY’ AFTER EXTENDING CEASEFIRE
Iran seized two oil tankers Thursday while former Iranian minister Ezzatollah Zarghami threatened to make the Strait of Hormuz a “massacre and hell” for U.S. forces. (Giuseppe Cacace/AFP)
“Effectiveness should not be measured by the total number of Iran-linked vessels at sea,” the group said in an April 22 statement. “But by whether the U.S. is disrupting high-value Iranian oil exports… and deterring large-scale illicit shipments.”
At least 29 vessels have been turned around or forced back to port, including several very large crude carriers, according to the report.
The blockade, announced April 12 and enforced by U.S. Central Command, is designed to cut off Iranian crude exports, particularly shipments to China, while prioritizing high-impact targets.
While sanctions are clearly biting, Maleki said their impact has been limited by inconsistent enforcement across successive U.S. administrations.
U.S. sanctions on Iran have been in place in various forms for years, targeting the country’s oil exports, banking sector and access to global financial systems.
Under the Obama administration, sanctions pressure was partially lifted under the nuclear deal. The first Trump administration reimposed “maximum pressure,” but enforcement ramped up gradually and lasted only a limited period. The Biden administration later eased enforcement in pursuit of diplomacy.
He argued that cycles of tightening and relief — including sanctions rollback under the Iran nuclear deal and pauses in enforcement — have allowed Tehran to adapt.
“What’s different now,” Maleki said, is the combination of sustained sanctions with real-time enforcement measures that directly restrict Iran’s ability to export oil — a step that was largely absent in earlier phases.
To maximize pressure, Maleki said Washington must sustain enforcement, particularly through secondary sanctions targeting foreign banks and companies facilitating Iranian trade.
Crucially, he downplayed the likelihood that outside powers could offset the pressure.
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Anti-regime protests engulf the streets of Tehran, Iran, on Jan. 6, 2025. (Reuters)
“I can’t really point to any other nation… that is going to jump in and give the Iranian regime a lifeline,” he said.
“At some point in the next few weeks to a few months, they’re going to face not just gasoline shortages and oil production disruptions, but also a major banking problem to pay salaries of government employees and IRGC personnel,” he said. “Iranians run out of patience again, as they did before, and they’re back on the street. I’m not quite sure if you’re going to have unpaid IRGC forces willing to go back on the street and kill their fellow Iranians who have the same grievances that they have now, which is a collapsed economy.”
World
FACT FOCUS: Norway brought its own food to the World Cup. But not because it distrusts US products
As Norway excels in its first World Cup appearance since 1998, false claims about what the team is eating are also grabbing attention online.
The allegations focus on the quality of American food — more specifically, that the Norwegians distrust it so much that they brought food from home to avoid eating it. Norway’s team is based in Greensboro, North Carolina, for the duration of the 2026 tournament, which is being co-hosted by the U.S., Canada and Mexico.
It’s true that the team shipped certain products from Norway for the World Cup, but the reason has nothing to do with concerns about quality.
Norway fans perform a rowing ritual prior to the World Cup Group I soccer match between Senegal and Norway in East Rutherford, N.J., near New York, Monday, June 22, 2026. (AP Photo/Yuki Iwamura)
Here’s a closer look at the facts.
CLAIM: The Norwegian men’s national soccer team brought its own food to the 2026 World Cup because it doesn’t trust the quality of food in the U.S.
THE FACTS: This is false. The team brought some products from Norway to maintain consistency in players’ diets and provide a taste of home, according to its head chef Aron Espeland. Other ingredients have been sourced locally. Nutrition experts say that such a practice is common among elite athletes who play internationally.
“When athletes are competing at the highest level, consistency is important,” Espeland said. “The players are used to certain products and flavors, and familiar foods can contribute both to nutrition and overall well-being during a demanding competition.”
He continued: “Overall, the experience of cooking for the team in the U.S. has been excellent. We have had access to high-quality local ingredients, and our approach has been to combine those with a selection of Norwegian products that help create continuity and a sense of home for the players during the tournament.”
Many of the claims spreading online say the team brought in 1,000 kilograms (2,200 pounds) of food from Norway for the World Cup. Espeland confirmed that the amount is actually about 580 kilograms (1,276 pounds). That consists of 300 kilograms (660 pounds) of Norwegian salmon and trout, 100 kilograms (220 pounds) of halibut, 80 kilograms (176 pounds) of Norwegian brown cheese, and 100 kilograms (220 pounds) of Jarlsberg cheese.
The team, whose support staff includes three chefs, did not bring oranges from Norway, despite social media posts claiming otherwise. Espeland said that players are served freshly squeezed orange juice every morning, made from oranges sourced locally in the U.S.
Plenty of other teams travel with their own chef and have taken their own food to past World Cups. For example, Argentina and Uruguay each brought thousands of pounds of meat to Qatar in 2022. The U.S. squad traveled to Brazil in 2014 with oatmeal, Cheerios, peanut butter and A1 Steak Sauce.
Such practices are not unusual for elite athletes who compete in different countries, according to experts. The reasons include maintaining routine and consistency, reducing risk of adverse reactions, providing cultural familiarity and accommodating personal preferences.
Norway’s players pose before the World Cup Group I soccer match between Iraq and Norway in Foxborough, Mass., near Boston, Tuesday, June 16, 2026. (AP Photo/Charles Krupa)
“Interpreting this practice as a lack of trust in the host nation’s food system misunderstands the purpose of high-performance nutrition,” said Rafaela G. Feresin, an associate professor of nutrition at Georgia State University. “The goal is not to evaluate local food quality; it is to eliminate unnecessary variability during competition. Bringing a chef and familiar ingredients to a major tournament is standard, performance-driven logistics.”
Amy Goodson, a sports dietitian who has worked with professional teams including the Dallas Cowboys and the Texas Rangers, explained that bringing food to international competitions is more about “control, consistency, and performance” rather than distrust.
“Nutrition is a performance variable at the World Cup level,” she said. “These athletes train, travel, and compete with elite intensity, often multiple times in a short window, while managing weather and time zone changes. What they eat directly impacts energy availability, hydration status, recovery, immune function, and even decision-making on the field. When margins are razor thin, fueling consistency becomes critical.” ___
Find AP Fact Checks here: https://apnews.com/APFactCheck.
Trump congratulates Colombia presidential candidate
Trump congratulated Abelardo De La Espriella, known by many as ‘El Tigre,’ following an initial ballot count. While not officially called, the narrow lead signals a potential rightward shift for Colombia. (Reuters.)
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Progressive candidate Iván Cepeda on Wednesday conceded Colombia’s presidential election to conservative outsider Abelardo de la Espriella, who was endorsed by President Donald Trump.
The concession came days after Cepeda initially refused to acknowledge defeat following preliminary results that showed de la Espriella as the apparent winner.
“At this stage of the vote count, I have decided to accept the result emerging from that process, which indicates that Abelardo de la Espriella is the new President of the Republic,” Cepeda said in an address to the nation.
“I do so as an act of democratic responsibility.”
TRUMP SAYS COLOMBIA’S ‘EL TIGRE’ WILL BE A ‘GREAT PRESIDENT’ AS SOCIALIST OPPONENT LAUNCHES LEGAL CHALLENGE
Ivan Cepeda speaks during a campaign rally in Cali, Colombia, on June 6, 2026. (AFP via Getty Images)
De la Espriella, a businessman and lawyer who had never previously run for office, known to his supporters as “El Tigre,” defeated Senate member Iván Cepeda by one percentage point in a remarkably close election, according to officials.
“The vote count shows an extraordinarily narrow margin between the two options vying for the trust of the Colombian people,” he said. “Less than 1% of the vote separates the candidacies that participated in this contest.”
Despite his concession, Cepeda made serious allegations that de la Espriella’s victory was influenced by “foreign interference” by the United States and the use of artificial intelligence to manipulate voters.
“During this process, we denounced the open and improper foreign interference in Colombia’s internal affairs—particularly the interventions by the United States government, and specifically the interventions by President Donald Trump in support of Abelardo de la Espriella’s candidacy,” he said.
He further accused the opposing campaign of widespread vote-buying and unethical tactics that he said undermined the legitimacy of the election results.
ANTI-CARTEL HARDLINER CHANNELS TRUMP IN BID TO END COLOMBIA’S LEFTIST ERA IN PIVOTAL ELECTION
Abelardo de la Espriella delivers a speech to supporters during a campaign rally in Palmira, near Cali, Colombia on May 14, 2026. (Joaquin Sarmiento/AFP via Getty Images)
President-elect de la Espriella will begin his four-year term in August.
“Starting August 7, we will work with determination to consolidate a common agenda that strengthens the security, freedom, and prosperity of our nations,” de la Espriella in a post on X.
The result will effectively end outgoing President Gustavo Petro’s leftist influence on the state and the policies Cepeda had pledged to continue if he won the election.
Colombia’s President Gustavo Petro, left, and President Donald Trump are shown in separate photographs. (Mauro Pimentel/AFP via Getty Images; Francis Chung/Politico/Bloomberg via Getty Images)
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A core pillar of Petro’s signature agenda was his “total peace” strategy, aimed at opening negotiations with remaining guerrilla forces, drug cartels, and armed paramilitary groups in an effort to end Colombia’s decades long internal conflict.
In contrast, de la Espriella has pledged a more hardline approach, including a militarized crackdown on criminal organizations, proposals to build mega-prisons, expand fossil fuel fracking, and revive the controversial practice of aerial glyphosate spraying to eradicate coca crops.
The president-elect, who holds dual Colombian and U.S. citizenship, has also said he plans to add Colombia to the Trump-dubbed “Shield of the Americas,” a proposed coalition aimed at coordinating efforts against criminal groups in Latin America.
Published on
Ten years after the UK voted to exit the European Union, the debate over Brexit’s legacy is far from over. MEPs Barry Andrews (Renew Europe) and Sander Smit (European Conservatives & Reformists) go head-to-head on whether Brexit has strengthened or weakened Europe—and whether Britain could or should one day return to the bloc.
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For Irish MEP Barry Andrews, the answer is clear. He argues that leaving the EU was a mistake and a “total disaster” for the UK, pointing to years of political instability and economic challenges since the referendum. He also contends that Brexit has ultimately strengthened support for the European project, stating that “there is nobody looking to leave the European Union anymore.”
Dutch MEP Sander Smit takes a different view, saying the EU still misses “the UK’s crucial voice for fiscal and financial discipline” and warning against a more centralised Europe. “Our future lies in a stronger partnership,” he says. “Let the UK and EU countries move beyond the past and work together as natural, sovereign allies.”
The Ring is hosted by Méabh Mc Mahon, produced by Luis Albertos Altarejos and Amaia Echevarria, and edited by Vassilis Glynos.
You can contact us at: thering@euronews.com
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FACT FOCUS: Norway brought its own food to the World Cup. But not because it distrusts US products
