US secretary of state Marco Rubio has warned that Iran could lose almost all its oil revenue as US sanctions and efforts to block Iranian oil shipments intensify, saying the economic pressure on Tehran would become “even worse”.According to news agency ANI, Rubio said Iran had only a handful of oil shipments left at sea that had escaped the US blockade during the brief ceasefire and the period covered by the memorandum of understanding (MoU). Once these shipments are exhausted, “almost all of their oil revenue will dry up”, he said.He added that the US treasury department, led by Scott Bessent, was working with intelligence agencies to shut down channels Iran was using to bypass sanctions, including alternative trading arrangements involving Asian markets.Rubio described the economic pressure on Iran as “extraordinary”, saying the impact of sanctions would continue to compound.He accused Tehran’s leadership of bringing the crisis upon its own people, calling it a “radical regime of lunatics” and alleging that its policies were “destroying their own country”. According to ANI, he said Washington was determined to prevent Iran from finding alternative ways to generate revenue and evade sanctions.On the military front, Washington has indicated that it is not planning to resume large-scale strikes on Iran for now. Rubio said the US did not see an immediate need for major military operations, arguing that the economic pressure campaign and naval blockade were already inflicting significant damage on Tehran.However, the US has not ruled out further military action. American forces carried out limited strikes on Iranian air defence and radar installations on Qeshm Island in recent days, with Washington describing them as defensive operations.Meanwhile, diplomatic efforts to end the conflict remain deadlocked, with the US and Iran holding sharply different positions on the conditions for a peace agreement.According to Reuters, Iran has proposed resuming negotiations within two days but wants Washington to first lift its naval blockade, ease sanctions and agree to end hostilities across all fronts.Iranian foreign ministry spokesman Esmaeil Baghaei defended the proposal, calling it the most reasonable offer on the table. However, Rubio has dismissed Tehran’s conditions as “outrageous and ridiculous”, saying Iran was not serious about reaching a deal.
