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[BUSINESS] · Spain, United States, Iran, Canada · 9 sources

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Ibex 35 nears 20,200 amid US economic offensive against Iran

The Ibex 35 index has shown volatility, recently climbing toward the 20,200 level after previously crossing the 20,000 psychological threshold. This market movement occurs amid heightened geopolitical tensions in the Middle East.

The United States has launched a major economic offensive against Iran, described by Treasury Secretary Scott Bessent as the “largest financial offensive ever orchestrated against an adversary.” The administration has implemented sanctions against various entities, individuals, and vessels accused of facilitating the Iranian regime's activities, specifically targeting those moving petroleum and petrochemical products through the UAE, China, Singapore, and Europe.

In response, Iranian Parliament Speaker Mohamed Baqer Qalibaf dismissed U.S. claims as false. Tehran has further warned that if the economic warfare continues, oil exports from the Persian Gulf region will be suspended. Meanwhile, oil prices have fluctuated around 92 dollars per barrel due to the instability.

Separately, President Donald Trump announced a 50% tariff increase on Canadian steel and automobiles, set to take effect on January 1, 2027, following failed trade negotiations.

Entities

Donald Trump · IAG · Ibex 35 · Inditex · Iran · Mohamed Baqer Qalibaf · Scott Bessent · United States

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