Iran vows to retaliate after US widens sanctions

Iran promised to retaliate against expanded United States (US) economic sanctions that the Americans said would cut off Iran’s economic ​lifeline, with Tehran expressing confidence that major trading partners would resist Washington’s pressure campaign.

US Treasury Secretary Scott Bessent unveiled the measures on Monday but stopped short of the ‌most punishing sanctions, saying countries that continued trading with Iran risked being forced out of the dollar-based financial system.

Bessent declined to identify the countries that would be targeted or reveal when those penalties would take effect, saying he would instead provide them time to comply with the new directive.

The Treasury Department did announce new sanctions on 60 individuals, entities and vessels, but the list did not include any of the Chinese financial institutions ​suspected of facilitating Iran’s oil trade.

Before the announcement, Iran threatened both a possible military response and further reduction in oil exports from the Gulf in response to any US ​economic measures.

Afterwards, Iranian Economy Minister Ali Madanizadeh said, “We are fully prepared for the US sanctions.” “Naturally, the enemies intend to launch an economic terrorist ⁠attack on us, but we also have our own tools and know how to play the game.

Our defence is no longer so defensive; the enemies should wait for an attack,” ​Madanizadeh told state television.

He also said neither China nor Russia had “accepted” the US measures, and predicted other countries would resist them.

Brigadier General Hossein Mohebbi, a spokesperson for Iran’s Islamic Revolutionary Guard Corps, vowed ​heavy blows to US vital interests and energy chokepoints if Iran’s infrastructure is threatened, Press TV reported.

Struggling to resolve an unpopular war that has pushed energy prices higher, the administration of President Donald Trump appears to be counting on further economic pressure even though Iran has spent decades under layers of US and international sanctions that have battered its economy but have not deterred its leadership.

Though neither side has launched major strikes in ​weeks, the war shows little sign of reaching a diplomatic solution.

In the meantime, the US is seeking new ways to end Iranian attacks on ships in the Gulf and, more recently via ​its allies, in the Red Sea.

Almost six months have passed since the US and Israel launched strikes on Iran.

While the war has degraded much of Iran’s conventional military capacity, inflicted economic pain and killed then-Supreme Leader ‌Ayatollah Ali ⁠Khamenei, Iran has preserved enough missile and drone capability to attack its Gulf neighbours and threaten oil tankers in the Strait of Hormuz.