Iran says new sanctions threatened by ‘desperate’ U.S. will fail

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Iran’s Foreign Minister dismissed the threat of ‌new U.S. sanctions as a sign of desperation on Sunday (August 23, 2026) and said the expected new ​measures would fail to defeat Tehran.

U.S. Treasury Secretary Scott Bessent, who is due to ⁠hold a press conference at 2 p.m. EDT (1800 GMT) on Monday (August 24, 2026), has threatened to impose “the toughest sanctions in history” on Iran.

Iran’s economy is already under huge pressure from international sanctions, its infrastructure has been hit repeatedly and thousands of people have been killed ‌in airstrikes on the Islamic Republic since the U.S. and Israel launched attacks on February 28.

But Tehran remains defiant after nearly six months of war and has brought shipping to a virtual ‌standstill in the Strait of Hormuz , refusing to allow unauthorized oil tankers to transit a waterway that ‌is ⁠vital for global oil shipments. The effective blockade of the strait has pushed up global ⁠oil prices.

He said Washington must speak to ​Iran respectfully to find “a solution based on ‌justice and honour.”

“We have never been afraid. All of their actions — whether blockades or other military moves they have made — have failed, and this new issue of theirs will fail as well,” he said.

U.S. President Donald Trump has warned of economic consequences against any country that provides “any type of lifeline to Iran,” ‌and Mr. Bessent has urged cooperation with Washington by China, which buys more than 80% of Iran’s ​shipped oil, according to 2025 data from analytics firm Kpler. China has urged diplomacy.

Iran said Pakistan’s army chief, Asim Munir, would visit Tehran on Monday (August 24, 2026) ⁠as part of efforts to restore peace and security in the region, but gave few details.

Pakistan has been mediating in the conflict and a Pakistani government source said Mr. Munir would touch on recent developments including the U.S. threat ‌of new sanctions.

Mr. Trump said on Friday (August 21) that Washington was observing “what happens” in the conflict.

“They would love to make a deal, but they’re not ready to make the right deal, in my opinion,” Mr. Trump said of Iran.

U.S. attacks have severely diminished Iran’s economy and devastated its navy and air force, but Tehran maintains enough missile and drone capability to impede oil tanker traffic and attack regional rivals.

Iranian Parliament speaker Mohammad Baqer Qalibaf said on Saturday (August 22) that Tehran had received “numerous messages” from neighbouring countries about establishing new regional security arrangements and economic cooperation.