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Iran has vowed to retaliate after the United States expanded economic sanctions against Tehran, escalating tensions between the two countries.
The latest developments were reported by Reuters on Tuesday (August 25).
The United States says the new sanctions will cut off the “main drivers” of Iran’s economy. Tehran, however, says its key trading partners will not bow to Washington’s pressure and will work to counter the measures.
US Treasury Secretary Scott Bessent announced the new measures against Iran on Monday (August 24), although he stopped short of imposing the toughest possible sanctions.
Bessent warned that countries continuing to trade with Iran could risk being cut off from the US dollar-based financial system.
He did not specify which countries would be targeted or when the new punitive measures would take effect. He said the countries concerned would be given time to comply with the new directives.
The US Treasury also announced sanctions against 60 individuals, entities and vessels. The list did not include any Chinese financial institution accused of facilitating Iran’s oil trade.
Before the sanctions were announced, Iran had threatened possible military retaliation against any US economic measures and warned that it could further reduce oil exports from the Gulf region.
After the sanctions were unveiled, Iran’s Economy Minister Ali Madanizadeh said Tehran was fully prepared.
“We are fully prepared for US sanctions,” Madanizadeh said in comments carried by state television.
He described the US move as an economic attack and said Iran had the means to respond. He also said China and Russia had not accepted the US measures and predicted that other countries would resist Washington’s pressure.
Iran’s Press TV also reported that Brigadier General Hossein Mohebbi, a spokesman for the Islamic Revolutionary Guard Corps, warned that Iran would strike vital US interests and energy supply routes if its infrastructure came under threat.
The latest escalation comes despite a temporary peace agreement between Iran and the United States reached in June. Known as the Islamabad Memorandum, the agreement quickly collapsed.
Meanwhile, Pakistan’s military said on Tuesday that its mediators had made “significant progress” in the latest talks with Tehran. The discussions focused on steps to prevent renewed conflict and reopen the Strait of Hormuz.
