Speaker 1: Yes, they facilitate transactions and are part of the ecosystem
Speaker 1: that turns Iranian oil into money into repression. They will
Speaker 1: be targeted. We are level setting with every country to
Speaker 1: tell them our expectations. We know who they are, They
Speaker 1: know who they are, so when the hammer of US
Speaker 1: Treasury actions falls upon them, they will have no one
Speaker 1: to blame but themselves.
Speaker 2: If you're listening to the forty seven Morning Update with
Speaker 2: Ben ferguson.
Speaker 3: Good Tuesday morning, nice have you with us in the
Speaker 3: forty seven Morning Update, And we've got big news coming
Speaker 3: out of Iran economic disaster as President Trump has announced
Speaker 3: the economic d day against Iran and it's the most
Speaker 3: crushing economic operation ever taken. So what is happening in
Speaker 3: Iran right now and where the new threats coming from Iran?
Speaker 3: At the President we break it all down for you
Speaker 3: as there's a very good chance that Iran is just
Speaker 3: about to crumble. Before we get to that, though, I
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Speaker 3: starts right now.
Speaker 2: Story number one.
Speaker 3: A RAND supreme leader is under mounting pressure at this
Speaker 3: hour over the war, as the regime's grip on the
Speaker 3: Straight of Hormuz has weakened and cash is finally starting
Speaker 3: to get tight, and the top political leaders are publicly
Speaker 3: urging the Islamis in charge to find a way out
Speaker 3: of the conflict. That is how dire the situation has
Speaker 3: become in Iran, and they cannot fake it any longer now.
Speaker 3: The latest phase of the conflict has seen more and
Speaker 3: more ships quietly slipping through the Strait of Hormuz, with
Speaker 3: nearly two hundred vessels sailing through the straight last week alone.
Speaker 3: That is coming from data from the UK Maritime Trade
Speaker 3: Operation Center. That is a massive number of ships compared
Speaker 3: to what we've been seeing over the last several months.
Speaker 2: Now.
Speaker 3: To put in perspective for you, the flow represents a
Speaker 3: four hundred percent spike in the last two weeks, with
Speaker 3: maritime analysts noting that the traffic finding safe passage that
Speaker 3: has been aided by US Navy escorts effectively means Iran
Speaker 3: has lost partial control of the strait, and while more
Speaker 3: ships and oil are getting out, Iran's own oil exports
Speaker 3: have dropped to new or zero under the renewed American
Speaker 3: blockade on its ports and President Trump's economic D Day measures,
Speaker 3: as he described them. I'm going to have more on
Speaker 3: those D Day measures in a moment, but before we
Speaker 3: get to that, I also want you to hear what
Speaker 3: the President had to say in the Oval Office when
Speaker 3: he was being asked questions about what he could still
Speaker 3: do with dealing with Iran researcher.
Speaker 1: He says that we could see the most impactful sanctions
Speaker 1: on Iran this week. When will they come and what
Speaker 1: else could be sanctioned on Ran?
Speaker 4: Well, we have things that we could sanction. We have
Speaker 4: very draconian sanctions, and we'll see what happens. Right now,
Speaker 4: the strait is open. We a lot of boats are
Speaker 4: coming through. People aren't reporting that, and that may slow
Speaker 4: down a little bit at some point, but right now
Speaker 4: a lot of boats are coming through. The naval blockade
Speaker 4: has been extremely effective zero I mean literally while it's up,
Speaker 4: and that's been for quite a while, you know, except
Speaker 4: for a couple of little pauses where we opened it
Speaker 4: with a deal, but the deal didn't termine, you know,
Speaker 4: the deal didn't turn out to be what they said,
Speaker 4: you know, when they tell us one thing and they
Speaker 4: do another. But the blockade has been one hundred percent successful.
Speaker 4: No boats have gotten into Iran, but they are getting
Speaker 4: in for other places. But we'll see. We're going to
Speaker 4: see what happens. It'll either be extremely good and oil
Speaker 4: prices are going to drop like a rock, or will
Speaker 4: continue to do exactly what we're doing. You know, they
Speaker 4: were talking about three hundred and fifty dollars a barrel,
Speaker 4: and it's today eighty four eighty five, and we are
Speaker 4: getting a lot of oil out. But the other thing
Speaker 4: that's happened is people have found other alternatives which they
Speaker 4: never thought about Texas, Alaska, Louisiana and other places. In addition,
Speaker 4: a lot of pipelines, record numbers of pipelines are being built,
Speaker 4: So I think the Hormost Strait's not going to be
Speaker 4: quite as important as.
Speaker 3: It was in the best Now this comes as President
Speaker 3: Trump announced economic d day against Iran. It was the
Speaker 3: most crushing economic operation is he just pride, ever taken.
Speaker 3: And he announced that the US not only is targeting
Speaker 3: Iran and its allies with the crushing economic operation that
Speaker 3: he says we've ever taken against any country. He said, quote,
Speaker 3: no one has given the Islamic Republic of Iran a
Speaker 3: greater opportunity to make a deal than me. Tragically, for them,
Speaker 3: they have failed to take it. Therefore, I'm announcing the
Speaker 3: most crushing economic operation ever taken against any country. This
Speaker 3: will be economic warfare and isolation on an unprecedented scale. Now,
Speaker 3: Trump said Iran is hanging on by a thread, and
Speaker 3: based on the data, he's absolutely right, and it is
Speaker 3: a direct result of the US military strikes that have
Speaker 3: devastated the country's Navy, air force, and military infrastructure. The
Speaker 3: president also declared that any country that allows its financial institutions,
Speaker 3: it's businesses, it's airports, or government entities to provide any
Speaker 3: type of lifeline to Iran will itself face tremendous economic consequences.
Speaker 3: Swap lines, cash transfers, exchange houses, ship registries, front companies.
Speaker 3: It all needs to stop now, the President said, you
Speaker 3: know who you are. That was obviously a shot across
Speaker 3: the bow of any country that's trying to help Iran. Now, Trump,
Speaker 3: like in the operation to the Economic d Day, that
Speaker 3: will require our allies to stand with the United States
Speaker 3: of America to isolate and defeat the Iranian threat.
Speaker 1: Now.
Speaker 3: President Trump's declaration also comes after the sixty day period
Speaker 3: for negotiations to end the war. It was established under
Speaker 3: an interim peace deal signed in June and expired on
Speaker 3: Monday without a breakthrough. Then on Tuesday, the President indicated
Speaker 3: that no further talks with the regime or plan, and
Speaker 3: the US naval blockade of Iranian ports in the Strait
Speaker 3: of Hormuz remains in full force and effect, quote unquote.
Speaker 3: These maniacs on the ropes, and these historic measures will
Speaker 3: cripple them and their ability to project terror worldwide. The
Speaker 3: President can continued, saying, Iran will never have a nuclear weapon.
Speaker 3: Thank you for your attention to this matter. Now, if
Speaker 3: you think the present's wrong, well look at the facts.
Speaker 3: Because Iran's currency is plummeted to new lows on Monday,
Speaker 3: as the US is said to announce the further sanctions
Speaker 3: on the Islamic Republic, whose citizens are now rushing to
Speaker 3: exchange lines to save their cash. The real dropped to
Speaker 3: two point zero two million to one US dollar when
Speaker 3: the currency markets opened on Monday, meaning the currency is
Speaker 3: now worth about half of what it was at the
Speaker 3: start of the year. That is not a good thing
Speaker 3: if you live in Iran. The continued plunge during nearly
Speaker 3: six months of war has led Iranians in Tehran to
Speaker 3: sprint for the exchange markets in hopes of getting US bills.
Speaker 3: There is no hope for a deal and peace, is
Speaker 3: what a seventy three year old said to the Associated
Speaker 3: Press as he waited an exchange line in downtown Tehran.
Speaker 3: He said Iran's real has been in a free fall
Speaker 3: since last November due to fears and years of Western
Speaker 3: sanctions and persistently high inflation, all factors that have only
Speaker 3: gotten worse during the war. Now, while i RAN's official
Speaker 3: central bank rate stands at one point five million rail
Speaker 3: to the dollar, the market rate is what the average
Speaker 3: iraneum pays. President Trump's disseminated Iran's economy to a point
Speaker 3: where the rail has now been weaker and inflation has
Speaker 3: rarely been higher. Is how US Treasury Secretary Scott Bessant
Speaker 3: said in an opinion piece in the Financial Times on Sunday,
Speaker 3: saying the regime's final refuge now lies and the self
Speaker 3: deception of fearful nations that still believe accommodating aggression can
Speaker 3: secure a durable piece. He went on to add, now
Speaker 3: bestn't warned that the additional financial penalties will come and
Speaker 3: they will effectively collapse the regime, With Trump echoing the
Speaker 3: same threat on social media, Iran is completely collapsing with
Speaker 3: the United Air of Emirates. We also have even more
Speaker 3: breaking news on this, and this is where you know
Speaker 3: when the present speaks, the world listens. The UAE, for
Speaker 3: the first time in years, is now cutting off trade
Speaker 3: with Iran. That means they're nixing billions and billions of
Speaker 3: dollars and it could have a crippling effect on Tehran,
Speaker 3: a US ally in the Middle East. They're now saying
Speaker 3: we stand with you and the UAE, which serves as
Speaker 3: Terran's largest supplier of goods, they have now quote suspended
Speaker 3: all trade over the weekend, nixing at least six billion
Speaker 3: in cash that went to regime from exports as well
Speaker 3: as access to vital supplies from the outside world. Dubai,
Speaker 3: the UAE's thriving commercial pub is by far Rand's largest
Speaker 3: supplier of goods. The UAE's government finally just got fed
Speaker 3: up with Iran following their repeated missile attacks that have
Speaker 3: triggered not only evacuations for the first time during the war,
Speaker 3: but also had a negative impact on trade for the
Speaker 3: country as well as tourism. The move not only threatens
Speaker 3: the twenty one point three billion trade relation between the
Speaker 3: two nations, but it also leaves Iran without its primary
Speaker 3: way to collect US dollars. That is what a retired
Speaker 3: US general and former Assistant Secretary of State said in
Speaker 3: an interview to the Post. If the imiordis seize trade
Speaker 3: and block dollar flows, it could have a crippling effect
Speaker 3: on the Iranian economy. Dubai essentially serves as Iran's window
Speaker 3: to the world after years of being slapped by Western sanctions,
Speaker 3: with traders buying and re exporting consumer goods as well
Speaker 3: as food and industrial equipment to Iran. And yeah, that
Speaker 3: was profitable for the UAE, but they don't want to
Speaker 3: lose their ally with the US. Even more shocking about
Speaker 3: this move by the UAE just to put in comparison.
Speaker 3: At one point, the two nations had strengthened their economic
Speaker 3: cooperation and only it was just two years ago. In
Speaker 3: twenty twenty four, the UAE was surpassing China is Iran's
Speaker 3: most vital trading partner. I Ran import about fourteen point
Speaker 3: eight billion worth of goods from the UAE during the
Speaker 3: first ten months of the twenty twenty five fiscal year.
Speaker 3: That accounts for thirty percent of its total imports. According
Speaker 3: to the two countries trade data, i Ran imported about
Speaker 3: fourteen billion worth of goods from the UAE during the
Speaker 3: first ten months of twenty twenty five, and that means
Speaker 3: that has all disappeared now now. Duvi's ports are the
Speaker 3: primary way Iran gets goods like phones, computers, tobacco and nuts. Meanwhile,
Speaker 3: i Ran exports around six point five billion worth It
Speaker 3: goes to the UAE during the same fiscal period nearly
Speaker 3: fifteen percent of its non oil exports. And most notably,
Speaker 3: Iran also depended on the UAE for seventy percent of
Speaker 3: its fuel oil exports, making UAE its largest market for
Speaker 3: their product. Refined oil is also come back in the
Speaker 3: opposite direction from Dubai as well, with gasoline and diesel
Speaker 3: imports from the UE helping to offset iran supply deficit.
Speaker 3: Now what does this actually mean, Well, it's pretty simple.
Speaker 3: This is a massive blow and it leaves Iran with
Speaker 3: fewer means to make money and import goods, and its
Speaker 3: economy is now continuing to plummet under the strain of
Speaker 3: the US sanctions. In many ways, the embargo being put
Speaker 3: on by the UAE is actually even more significant than
Speaker 3: the embargo being put on by the United States. The
Speaker 3: strain comes as the Treasury Secretary announcing the start of
Speaker 3: Operation Economic Outcast, calling on all nations to follow the
Speaker 3: UAE's lead and to cut off all business with Iran.
Speaker 3: Bessen said, quote. The President is making phone calls to
Speaker 3: world leaders as we speak, with specific requests to cease
Speaker 3: their interactions with the regime. We are already seeing results.
Speaker 3: So it's clear President United States of America flinching, and
Speaker 3: it's clear now that Iran is teetering on total economic collapse,
Speaker 3: which is exactly what the President said he was wanting
Speaker 3: to do.
Speaker 2: Thank you for listening to the forty seven Morning Update
Speaker 2: with Ben Ferguson. Please make sure you hit subscribe wherever
Speaker 2: you're listening to this podcast right now and for more
Speaker 2: in depth news, also subscribe to the Ben Ferguson podcast,
Speaker 2: and we will see you back here tomorrow