Iran condemns US plans to announce new sanctions

Iran has harshly criticized the United States for planning to announce new sanctions that could exacerbate the Islamic Republic's economic woes and affect its vital trading partners, notably China. In a stern warning, Iran's Supreme National Security Council head, Mohsen Rezai, declared that any nation participating in the U.S.'s "economic war" against Iran would be deemed an enemy.

Rezai's comments were broadcast on state television following months of conflict between the two nations, which began on February 28 with US and Israeli air strikes on Iran. Despite the ongoing hostilities, neither side has engaged in direct fighting nor pursued peace negotiations. The Strait of Hormuz, a crucial oil shipping lane, is now largely blocked, with Iran threatening to strike unauthorized oil tankers attempting to pass through.

US Treasury Secretary Scott Bessent is slated to deliver a press conference on Monday, vowing to impose the "toughest sanctions in history" on Iran. Bessent has also called for China's cooperation, which is crucial given China's role as Iran's largest oil importer. Iran's Foreign Ministry spokesman, Esmaeil Baghaei, dismissed the U.S.'s plan as an "assertion of extraterritorial sovereignty over every independent nation."

Rezaei, the Supreme National Security Council secretary, vowed that Tehran would target the assets of countries aiding the U.S. US President Donald Trump warned of economic repercussions for any country aiding Iran and expressed skepticism about the likelihood of a suitable deal. While the US has imposed sanctions on Iranian vessels, the Strait of Hormuz remains congested with thousands of stranded ships.

However, Iran has granted Iraqi oil tankers limited access to the strait following requests from Iraqi officials. US Energy Secretary Chris Wright reported a seven-day average of 8 million barrels a day of oil passing through the strait, down from over 20 million barrels prior to the war. Iran's armed forces chief of staff emphasized the country's missile and drone capabilities during a visit to a missile production facility.

Iraq's parliamentary speaker urged the establishment of new regional security arrangements and economic cooperation, accusing the US of endangering regional security for Israel's sake. Despite Iran's defiant stance, President Masoud Pezeshkian has also called for a diplomatic resolution, emphasizing the US's offensive against Iranian civilian infrastructure, which has garnered international condemnation.