The United States has threatened Iran with what it described as “the biggest financial war ever,” as Washington prepares to impose economic sanctions today, Monday, targeting Iran’s trading partners.
اضافة اعلان
Iran, meanwhile, has threatened to halt all oil exports from the Gulf if the “economic war” continues. U.S. Treasury Secretary Scott Bessent is scheduled to hold a press conference at 1 p.m. Eastern Time (5 p.m. GMT) today, amid threats of announcing tougher measures against Iran.
In an opinion article published in the Financial Times on Sunday, Bessent wrote: “At dawn, economic reckoning day begins—the biggest financial war ever waged against an adversary.”
Iranian Foreign Ministry spokesman Esmail Baghaei said Tehran would use “all the capabilities of its bilateral relations” to confront U.S. economic sanctions, adding: “We have issued warnings regarding cooperation with America in its economic pressure campaign against Tehran.”
The two countries have not carried out military strikes against each other for several weeks, but they have also failed to enter serious negotiations to end the conflict, which has continued for six months. Thousands of people, mostly in Iran and Lebanon, have been killed since the United States and Israel launched the war with attacks on February 28. The attacks have significantly weakened Iran’s conventional military capabilities, damaged its economy, and resulted in the killing of Iranian leader Ali Khamenei.
Iran, however, has retained sufficient missile and drone capabilities to launch attacks against neighboring Gulf states and threaten oil tankers in the Strait of Hormuz. This has brought shipping through the vital waterway to an almost complete halt and put pressure on global fuel prices. The status of Iran’s nuclear program, which the United States and Israel seek to eliminate, remains unclear.
Without detailing the specific measures, Bessent indicated that the United States would target “fearful countries” pursuing a policy of appeasement by taking action against Iran’s economy and financial system.
In the Financial Times, he wrote: “They would be well advised to consider the consequences of continuing to do so.”
Iran has been preparing for the sanctions for several days, issuing a series of strongly worded statements indicating that it is planning a major military response.
Mohsen Rezaei, Secretary-General of Iran’s Supreme National Security Council, also pointed to the possibility of economic retaliation. In a social media post, he said: “If the economic war continues, not a single drop of oil will be exported through the Strait of Hormuz.”
He added: “Iran will consider the participation of, or support by, any country in the American economic war against the Iranian people an act of war.”
Bessent had earlier urged Beijing to cooperate with Washington, noting that China typically imports half of its oil requirements from the Gulf region.
A spokesperson for the Chinese Embassy in Washington responded in a statement that “sanctions and pressure do not help resolve the problem,” while calling for diplomacy.
Iran’s economy was already under pressure from international sanctions before U.S. and Israeli attacks destroyed parts of its infrastructure.
Although Tehran continues to publicly maintain a defiant position, Iranian officials have warned that further economic sanctions could increase hardship, fuel unrest, and further erode the legitimacy of the Islamic Republic.
Iran entered the war with high inflation, a weak currency, energy shortages, sanctions, and deep-rooted structural vulnerabilities. It now faces the additional challenges of damaged infrastructure, disrupted trade, lost production, and the cost of reconstruction.
With no formal face-to-face talks currently taking place between the United States and Iran—the last such talks were held in Switzerland in June—other countries, including Qatar, Pakistan, and Türkiye, have sought to strengthen diplomatic efforts.
Iran said Pakistani army chief Asim Munir would visit Tehran today, Monday, as part of efforts to restore peace and security in the region, although it provided few details.
Pakistan has been acting as a mediator in the conflict. A Pakistani government source said Munir would discuss the latest developments, including the U.S. threat to impose new sanctions.
Meanwhile, an Iranian Foreign Ministry spokesperson said Omani Foreign Minister Badr Albusaidi would visit Tehran tomorrow to continue consultations between the two countries regarding the Strait of Hormuz, according to Reuters.
Baghaei denied that Munir’s and Albusaidi’s visits to Tehran were connected.
Separately, an Iranian body responsible for managing the Strait of Hormuz said on X that vessels violating its regulations governing passage through the strait could face restrictions, including fines, detention, or confiscation.
The authority, a newly established Iranian body overseeing the strait, said cargo owners should review an updated list of vessels deemed non-compliant with navigation arrangements in the Gulf, according to Reuters.
