Iran begins imposing sanctions on US, Fars says

Iran has begun imposing sanctions against the United States, Report informs, citing the Fars news agency.

According to Fars, Iran has blacklisted 56 oil tankers over alleged violations, warned their partners of possible sanctions and tightened its control over the Strait of Hormuz.

The agency said the move came as diesel prices in the United States reached record levels, Qatar's gas exports fell by 90%, Saudi Arabia's oil exports dropped to their lowest level in nine years, and US households faced an additional $100 billion in costs.

The White House launched an operation dubbed "Economic Isolation" on August 24 aimed at intensifying Iran's economic isolation by shutting down financial and trade channels linked to Tehran.

The European Union joined the operation against Iran on September 4.