Iran president says nation is facing 'many problems' due to sanctions

Iran's president, Masoud Pezeshkian, acknowledged the economic challenges faced by the Iranian people amid the escalating sanctions imposed by the United States. Speaking on state television, Pezeshkian said the country is grappling with inflation, unemployment, and livelihood issues, as it strives to overcome the economic and military war thrust upon it by the Trump administration. He expressed the government's efforts to secure the future of the people, ensuring they can live with dignity and pride.

The acknowledgment of these problems came a day before the U.S. Treasury Secretary, Scott Bessent, was expected to unveil more punitive economic measures, described by the Secretary as "the toughest sanctions in history" on Iran. Iran's foreign ministry spokesperson, Esmaeil Baghaei, responded to the announcement by calling it an assertion of extraterritorial sovereignty over any independent member state of the United Nations, asserting that such secondary sanctions lack foundation in international law.

Iran's top security body leader, Mohsen Rezaei, warned neighboring countries against joining the U.S. efforts to squeeze Iran's economy. Rezaei threatened to target oil-shipping routes out of the Gulf and US commercial interests if they participated in the "economic war" waged by Washington. He also claimed Iran had yet to attack any American economic interests and threatened to do so if sanctions were imposed.

In the face of mounting pressure, the United Arab Emirates suspended all trade and financial transactions with Tehran, while the U.S. Treasury continued its efforts to isolate Iran's economy through Operation Economic Fury. Meanwhile, discussions were underway to develop alternative routes to the strategically vital strait of Hormuz, with France and Saudi Arabia expected to play a significant role in negotiating and implementing new trade and logistics solutions.