Shafaq News- London

Britain on Tuesday backed US efforts to increase economic pressure on Iran while keeping diplomacy open, urging Tehran to halt its “destabilizing activities” across the Strait of Hormuz.

At a press conference, British Treasury Minister John Healey welcomed the new round of sanctions against Iran, stressing that London remains determined to “prevent the Islamic Republic from using the global economy to its advantage.”

On Monday, the United States launched “Operation Economic Outcast,” a campaign designed to isolate Tehran from global economic and financial networks. US Treasury Secretary Scott Bessent noted that the sanctions cover 60 entities, individuals and vessels linked to Iran’s nuclear, missile and oil sectors.

The US Treasury Department also suspended general licenses that had permitted certain financial transfers to Iran. The measures target companies and vessels linked to Iran’s “shadow fleet” in the United Arab Emirates, Hong Kong, China, Singapore and Switzerland.

The Strait of Hormuz, through which roughly 20% of the world’s oil passes, has remained largely closed under Iranian restrictions since Feb. 28, following the joint US-Israel war on Iran. The corridor briefly reopened after a US-Iran memorandum of understanding (MoU) took effect on June 18, but closed again amid renewed military escalation, with Tehran maintaining that the waterway remains under Iranian control. US President Donald Trump, however, claims the gateway is “open and operating.”