#oil
🇮🇷🇺🇸 The US targeted Iran's shadow banking infrastructure and access to cryptocurrency – US Treasury Secretary

The US Treasury Department (via Economic Fury) targeted Iran's shadow banking infrastructure, access to cryptocurrencies, its shadow fleet, weapons procurement networks, the financing of terrorist proxies in the region, and independent Chinese "teapot" refineries supporting the trade of Iranian oil.

These actions disrupted the flow of tens of billions of dollars in revenue that would have been used to fund terrorism. As part of the US President's maximum pressure campaign, inflation in Tehran has doubled, and its currency has rapidly depreciated.

Kharq Island, Iran's main oil export terminal, will soon reach its storage capacity limit, forcing the regime to reduce oil production, resulting in a loss of approximately $170m in daily revenue and damaging Iran's oil infrastructure.

The Treasury Department will continue to exert maximum pressure, and any individual, vessel, or institution facilitating illegal flows to Tehran risks being subject to US sanctions.

UPD: Trump and oil companies discussed steps to continue the blockade of Iran for several months, if necessary – a White House representative

⚡ Jerome Powell (head of the #FED):

✔ Inflation remains high, including due to rising energy prices.
✔ The current monetary policy rate is considered sufficiently tight and in line with the FED's goals.
❗️The rise in energy prices will lead to a short-term increase in inflation.
❗️This is my last press conference as head of the FED.
✔ Events in the Middle East are increasing uncertainty.
✔ The demand for labor has clearly declined.
✔ I will remain on the FED board after May 15.
✔ Inflation expectations have been rising lately, and the unemployment rate has remained virtually unchanged.
❗️The surge in energy prices has likely not yet reached its peak.
❗️Within the FED, the number of officials supporting a transition to a neutral position has increased. There are also more who now consider a rate hike as likely as a rate cut.
✔ Most FED chairmen did not want to change the wording right now, but the next 30-60 days could seriously change the situation.
❗️Already at the next FED meeting, the FED may abandon signals of a possible easing of monetary policy.
✔ Interest rate policy is not moving along a fixed trajectory.
✔ We expect that inflation caused by customs duties will decline in the next two quarters.
✔ The labor market is not a source of inflation.