Iran vows to retaliate against countries that cooperate with fresh US sanctions
Test of US rhetoric will rest on whether nations such as India, China and Russia view economic threats as credible Iran has vowed to retaliate against any country that cooperates with the US attempt to impose fresh sanctions against Iran in what the Treasury secretary, Scott Bessent, has billed as “the single greatest financial offensive ever marshalled against an adversary”. In advance of the US…
The United States has announced plans to impose fresh sanctions on Iran, vowing to retaliate against any countries that cooperate with the move. Treasury Secretary Scott Bessent described the sanctions as "the single greatest financial offensive ever marshalled against an adversary." In response, the United Arab Emirates, Iran's largest trading partner in the Middle East, has ended all trade with Iran.
The US has threatened secondary sanctions on any country or entity trading with Iran, aiming to cripple its economy. China, Iran's main importer of oil, has ignored US warnings over Iranian oil imports, calling the threats illegitimate. Iran's oil shipments to Asia have effectively stopped due to a US naval blockade, driving prices to record highs.
Iran's central bank governor has admitted crude exports have "virtually stopped" due to the blockade. Iran's security chief has vowed an "earthquake-like" retaliation if Washington proceeds with the proposed measures. Iran's foreign minister dismissed the sanctions as a sign of US desperation. International lawyers argue that the sanctions violate international law and the UN charter, which upholds the sovereignty of nations.
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