Iran vows retaliation as US widens economic sanctions
Iran has promised to retaliate against expanded US economic sanctions, which Washington said would cut off Iran's economic lifeline.
The United States has announced expanded economic sanctions against Iran, in an effort to sever the country's economic lifeline. Treasury Secretary Scott Bessent unveiled the measures on Tuesday, but avoided severe penalties, stating that countries continuing to trade with Iran risk being cut off from the dollar-based financial system.
Bessent did not disclose the specific countries targeted or the timing of the penalties, instead giving them time to comply with the new directive. The Treasury Department announced sanctions on 60 individuals, entities, and vessels, but notably, did not include any Chinese financial institutions suspected of facilitating Iran's oil trade.
Iran responded by threatening a military retaliation and further reductions in oil exports. Iranian Economy Minister Ali Madanizadeh stated that Iran is fully prepared for the US sanctions and is ready to defend itself. He also predicted that other countries would resist the US measures. Iranian officials vowed heavy blows to US vital interests and energy chokepoints if Iran's infrastructure is threatened.
Despite the sanctions, oil prices fell more than $2 per barrel, as investors braced for potential further supply disruptions from the Middle East.
Written by urgent.news from RTE News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
