Baghdad [Iraq], November 9 (ANI): The United States Department of the Treasury has asked the Iraqi government to close almost all of its commercial border crossings with Iran, leaving only two operational, as Washington intensifies its economic campaign to isolate Tehran, Iraqi Foreign Minister Fuad Hussein revealed in an interview with Al Jazeera.

Speaking to the network, Hussein disclosed that the US Treasury requested Baghdad to restrict bilateral overland trade and passenger traffic to just two transit points, including one crossing situated in the autonomous Kurdistan region.

Hussein also touched upon the immense challenges Iraq faces in managing its critical energy transit routes amid escalating military friction.

According to the Iraqi Foreign Minister, backchannel agreements forged with both Washington and Tehran had previously allowed Iraq to continue moving its crude oil through the strategic Strait of Hormuz utilising a designated southerly maritime corridor, Al Jazeera reported.

However, a tight blockade imposed on the vital waterway has delivered a devastating economic blow to Iraq's oil-dependent economy.

Hussein stated that the continued disruptions and the maritime blockades in the Strait of Hormuz have caused staggering financial losses amounting to USD 60 billion for Iraq, Al Jazeera reported.

Meanwhile, Iranian Foreign Minister Seyed Abbas Araghchi has issued a fierce warning to the United States, telling the White House to either accept Tehran's proposal to end hostilities on all fronts or face severe military retaliation that will 'rain down hell."

Araghchi's dual-track diplomatic ultimatum and combative rhetoric followed the conclusion of the US midterm elections, which he asserted had completely disrupted the pace of regional negotiations.

Taking to social media platform X on Sunday, the Iranian Foreign Minister declared that the ball is firmly in Washington's court to decide between a negotiated de-escalation and catastrophic regional warfare.

'American voters have made their choice. Time for the White House to make its own,' Araghchi posted.

Issuing a direct warning to the Trump administration, Araghchi added, 'Our 2-day proposal stands: meet the requirements, including end to war on all fronts, and you will see results. Or choose war, and see our alert and battle-hardened Warriors rain down hell.'

Soon after, speaking to reporters in the Iranian capital, Araghchi disclosed that diplomatic efforts to broker a cessation of hostilities have hit an impasse, directly linking the standstill to political volatility in Washington, according to Al Jazeera.

'The main reason is the US election results, which have obviously come as a shock to everyone,' Araghchi was quoted as saying by Al Jazeera.

'It will take some time for things to settle down and for the atmosphere to become conducive to the mediators resuming their visits. We have to wait,' Araghchi stated. (ANI)