Iranian Economy Minister Ali Madanizadeh on Monday predicted “another defeat” for the United States, saying Iran had a “two-year plan” to deal with Washington’s new sanctions.A woman walks past the building of the destroyed Shajareh Tayebeh primary school in Minab in Iran. (AFP (representational image))"They have done everything they could to test the determination of the Iranian people and the country's officials, but they have failed every time. It seems they wished to suffer yet another defeat," Madanizadeh told state television.Also read | US announces new Iran sanctions in 'economic onslaught,' aims to cut off Tehran's revenue sources"We've been waiting for these plans for a long time, and the government is and was ready and has a two-year plan to manage these events," he added.US announces new sanctionsThe remarks followed the US announcement of new sanctions on Iran.The new measures will expand the use of secondary sanctions. These sanctions can target countries, companies and other entities that do business with Iran. US officials expect these sanctions to be the main tool against Iran at least until after the US midterm elections. After the elections, another US military campaign against Iran could again become an option, according to US officials.Also read | Trump targets Iran’s military officials, cyber groups and shippers under 'Op Economic Outcast'US Treasury Secretary Scott Bessent said there should be no confusion about the US position. He warned that anyone involved in economic activity with the Iranian government could face the full power of US sanctions. “An economic engagement of any kind with this murderous regime” would expose those involved to US action, Bessent said at a news conference, according to Axios.Bessent did not announce a specific deadline for countries or companies to stop doing business with Iran. He said the US would not set a timeline but warned that Washington does not have “infinite patience.” He also said “no one is above this” when asked whether China would be included. Bessent described the campaign as “economic asphyxiation” of the Iranian government and warned countries not to test US resolve.