Iran’s foreign minister dismissed the threat of new US sanctions as a sign of desperation on Sunday and said the expected new measures would fail to defeat Tehran.
US Treasury Secretary Scott Bessent, who is due to hold a press conference at 2 p.m. EDT (1800 GMT) on Monday, has threatened to impose “the toughest sanctions in history” on Iran.
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Iran’s economy is already under huge pressure from international sanctions, its infrastructure has been hit repeatedly and thousands of people have been killed in airstrikes on Iran since the US and Israel launched attacks on February 28.
But Tehran remains defiant after nearly six months of war and has brought shipping to a virtual standstill in the Strait of Hormuz, refusing to allow unauthorized oil tankers to transit a waterway that is vital for global oil shipments. The effective blockade of the strait has pushed up global oil prices.
