Iran Claims Preparedness Against US-Led Economic Sanctions
Iran asserts it is ready to counter what the United States terms the "greatest financial offensive ever" against the country, following the widening of economic sanctions.
"We also have our own tools and know how to play the game," Iranian Economy Minister Ali Madanizadeh stated on state television, expressing confidence in Tehran's ability to withstand the sanctions.
US Treasury Secretary Scott Bessent unveiled a series of new measures, promising to isolate any nation or entity financially associated with Iran. He characterized the steps as a "single greatest financial offensive" aimed at severing every potential revenue stream for Iran.
Iran's response came as its largest trading partners, including China, Turkey, and the United Arab Emirates, either halted trade or promised to cut financial ties with Tehran. However, Iran insisted that these actions would not deter its trading partners, citing China's resistance to the US measures.
The escalating tension has led to global oil price hikes and Iran's threat to block oil exports from the region if the war continues. Moreover, Iran has warned ships against passing through the Strait of Hormuz without permission, a vital waterway for global oil trade.
Bessent's "Operation Economic Outcast" aims to map and disrupt Iran's financial networks, targeting digital assets, technology, gold, aviation, and shipping sectors. Over 60 entities, individuals, and vessels have been sanctioned by the Treasury as part of this effort.