Iran foreign ministry spokesman Baghaei denounced U.S. economic measures as a "clear example of economic terrorism" intended to punish a state defending its sovereignty. He said any maritime blockade of Iran would be treated as an act of aggression, warned that countries cooperating with what he called U.S. illegal actions "will face serious consequences," and added Iran "will not stand idly by."

Shell is marketing underperforming US chemical assets, including the large Monaca, Pennsylvania complex, and has drawn interest from ExxonMobil, LyondellBasell, Apollo and Kuwait Petroleum’s chemicals unit, the FT reports. The Monaca plant, commissioned in 2022, was built with about $14bn of capital; the assets could fetch up to $8bn — substantially below Shell’s investment. The facilities produce feedstocks and intermediates for plastics, detergents and pharmaceuticals.

Tehran gold coin market set new records on the first day of Iran’s new year (Aug 23). New-design full gold coin sold at 217.5 mln rials. Old-design full coin rose 11.2 mln rials to 216.5 mln rials. Half coin climbed 6.2 mln rials to 112.0 mln rials. Quarter coin increased 4.1 mln rials to 60.5 mln rials. Small-denomination coin gained 1.0 mln rials to 31.0 mln rials.