Iran says new US sanctions won’t derail economy, has plan for next 2 years

Iran remained defiant in the face of the US Treasury Secretary's announcement of sanctions on Monday. Through its "Operation Economic Outcast," the US Treasury Secretary detailed measures to isolate Iran economically. Iranian Minister of Economic Affairs Seyed Ali Madanizadeh discussed Iran's economic strategy in an interview on Tuesday with Islamic Republic of Iran Broadcasting.

He stated that Iran had already developed a comprehensive economic plan covering the next two years and was well-prepared to address the new sanctions. Madanizadeh acknowledged the severe impact on Iran's steel and petrochemical industries due to the war but emphasized ongoing efforts to normalize the situation and initiate reconstruction.

He highlighted the significant drop in the monthly inflation rate, which had reduced to nearly half of its previous level, as reported by the Central Bank of Iran. Over 90% of tax payment obligations had been met in 2025, despite the ongoing conflict. The Iranian leadership firmly rejected the effectiveness of the US sanctions. Iranian Speaker of the Parliament Mohammad Bagher Ghalibaf argued that the US was not economically capable of further limiting relations with other countries.

Deputy Foreign Minister Kazem Gharibabadi disputed the US claims of dismantling Iran's military strength and imposing the largest financial blow in history. Iranian Foreign Ministry Spokesperson Esmaeil Baqaei warned that any escalation of the situation would have serious consequences. Mohsen Rezaee, the new secretary of Iran’s Supreme National Security Council, warned that countries supporting the sanctions would be considered an "act of war."

On the same day as the US sanctions announcement, Iran listed 45 tankers and vessels for violating Strait of Hormuz passage rules, including ships from South Korea, Norway, the Netherlands, and Saudi Arabia.