Iran vows to retaliate after US widens sanctions

The United States announced on Monday the widening of economic sanctions against Iran, warning that countries continuing to trade with the country risk being cut off from the dollar-based financial system. Treasury Secretary Scott Bessent unveiled the measures, though he refrained from imposing the most harsh penalties, stating that non-compliance would result in being excluded from the financial system.

Bessent did not specify the targeted countries or the timing of the penalties, instead granting them time to comply. Iran responded by reaffirming its readiness to retaliate against any US economic measures. Economy Minister Ali Madanizadeh stated that Iran was prepared to face the US sanctions, asserting that its adversaries aimed to carry out an economic terrorist attack, but Iran had its own tools to respond.

Brigadier General Hossein Mohebbi, a spokesperson for Iran’s Islamic Revolutionary Guard Corps, vowed to inflict heavy blows on US vital interests and energy chokepoints if Iran's infrastructure were threatened. The US Treasury Department announced sanctions on 60 individuals, entities, and vessels, though it did not target any Chinese financial institutions suspected of facilitating Iran's oil trade.

Before the announcement, Iran had threatened both a military response and a reduction in oil exports from the Gulf. Iranian Economy Minister Ali Madanizadeh emphasized Iran's preparedness for the US sanctions, stating that the country had its own strategies to play the game. The US administration, grappling with an unpopular war that has led to higher energy prices, appears to be relying on further economic pressure, despite Iran's long-standing history of being under US and international sanctions.

The US seeks new ways to end Iranian attacks on ships in the Gulf and Red Sea, as the war has not yet reached a diplomatic solution.