Iran Pushes Back Against US Economic Pressure Campaign
Tensions between Iran and the United States have escalated as Tehran pushes back against Washington's economic pressure campaign. Iranian Parliament Speaker and top negotiator Mohammad Bagher Ghalibaf responded to US Treasury Secretary Scott Bessent's announcement of 'Operation Economic Outcast', a broad campaign aimed at severing Iran's financial connections.
Ghalibaf said that the United States is not in an economic position to further restrict its relations with other countries, and that Washington's 'bombast' falls on deaf ears. He claimed that trading partners have made it clear they do not take US statements into account when making decisions.
The latest exchange comes as Washington expands sanctions against Iran and seeks to restrict Tehran's access to international financial networks, oil markets, and other sources of revenue. Bessent warned Iran of global isolation, saying that the country now faces a choice between complete isolation and a subsistence economy or rejoining the global economy.
The US has targeted Iran's economic lifelines, imposing sanctions on nearly 60 Iranian individuals, entities, and vessels linked to military activities, procurement networks, and petroleum and petrochemical trade. Iranian President Masoud Pezeshkian warned that Washington's approach could complicate diplomatic efforts, calling for greater cooperation between Iran, neighbouring countries, and other Islamic nations.