Published August 25th, 2026 - 06:54 GMT
ALBAWABA - After the U.S. announcement of imposing strict economic sanctions against Iran, Tehran said it is confident it can counter them, the country's Economy Minister Ali Madanizadeh announced Tuesday.U.S. President Donald Trump revealed what he described as an "economic D-Day" against Iran with the aim to isolate it from the global economy. The U.S. also warned countries that deal with Tehran.Madanizadeh stressed that the country was "fully prepared" for the American sanctions, which he said would lead to "another defeat" for Washington.U.S. Treasury Secretary Scott Bessent revealed that any nation financially partnering with Iran would face similar action, threatening that banks and companies dealing with Tehran should cut links immediately.People walk past an anti-U.S. billboard in Tehran on August 24, 2026. Photo by - / AFPBessent described the sanctions against Iran as "the single greatest financial offensive ever", saying they would "tighten the noose and block every potential source of revenue".But hours after the "economic D-Day" announcement, Iran revealed it was confident its trading partners would not halt ties.Iran's Economy Minister said neither China nor Russia had "accepted" the U.S. measures. He added, "The government is and was ready and has a two-year plan to manage these events."The minister continued, "We also have our own tools and know how to play the game."Nonetheless, Iran Revolutionary Guards (IRGC) has issued a new warning to ships not to pass through the Strait of Hormuz without permission, warning that the army would target them.
