Tehran has reacted sharply to fresh sanctions imposed by the United States aimed at crippling Iran economically, announcing that it already has a two-year plan ready to counter the superpower’s measures effectively. Washington’s decision was aimed at completely severing Iran’s international trade and economic ties in order to isolate the country entirely.
US Treasury Secretary Scott Bessent made clear that any country or entity continuing financial dealings with Tehran, or assisting Iran in currency transactions, would be cut off from the international dollar-based financial system. Under an initiative named “Operation Economic Outcast,” the US government imposed these new sanctions on nearly 60 entities, individuals, and vessels, alleging that they were supporting Iran’s military activities as well as its petroleum and petrochemical trade. Bessent stated unequivocally that the primary objective of these latest sanctions was to completely sever Iran’s economic lifeline to the rest of the world.
Iran made clear that it would not bow to US pressure. Iranian Parliament Speaker Ghalibaf said that allied nations trading with Iran are strongly opposing the US sanctions, adding that the United States does not have the power to sever Iran’s ties with the rest of the world, and that Iran’s trading partners are simply disregarding Washington’s announcements. Iran’s Economy Minister Ali Madanizadeh also said that Iran already has a two-year plan in place to counter the sanctions imposed by Washington, expressing confidence that the US would face defeat once again. He said Washington had made numerous attempts to test the resolve of the Iranian people, only to fail each time. Meanwhile, amid the intensifying impact of US sanctions, the value of Iran’s currency has plummeted sharply, with the rial now trading at 20.2 lakh to the US dollar. On the other hand, Israeli Prime Minister Benjamin Netanyahu welcomed Washington’s tough stance against Iran, stating that these economic sanctions, targeting Iran and the groups backing it, would deal it an irreversible blow.