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Iran’s Economy Minister comments came shortly after the US announced a major expansion of Washington’s economic pressure campaign against Iran.
Mojtaba Khamenei’s growing authority does not necessarily mean that he personally controls every part of Iran’s security apparatus. In fact, his reliance on veteran commanders reveals that he needs the old guard, and is bringing it closer to him. (AFP Photo)
Iranian Economy Minister Ali Madanizadeh predicted on Monday “another defeat” for the United States, saying the Islamic republic had a “two-year plan” to counter Washington’s new sanctions.
“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.
“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.
His comments came shortly after US Treasury Secretary Scott Bessent announced a major expansion of Washington’s economic pressure campaign against Iran.
Bessent Vows ‘Economic Asphyxiation’
Bessent said the US would pursue what he called the “economic asphyxiation” of Iran, widening the threat of secondary sanctions against countries and companies that continue to do business with Tehran.
“Around the globe, our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone,” Bessent told reporters.
The Treasury Department expanded sanctions threats to five sectors — digital assets, technology, gold, aviation and shipping — while separately targeting 60 individuals, companies and vessels accused of helping Iran generate oil revenue, procure weapons or conduct cyber operations.
The measures reach entities in several countries, including the United Arab Emirates, Hong Kong, China, Singapore and parts of Europe.
Bessent also warned that any entity facilitating money laundering for Iran would be removed from the US dollar system, saying: “The clock just started ticking.”
The latest confrontation comes nearly six months into the war, which has reached a stalemate amid stalled peace efforts and Iran’s restrictions on traffic through the Strait of Hormuz.
Iranian Deputy Foreign Minister Kazem Gharibabadi earlier dismissed Washington’s expanded financial campaign as evidence that the US had failed to achieve its military aims.
“If Washington has achieved its goals, why is there a need for ‘the largest financial invasion in history’?” he asked, calling the move an admission of US defeat.
(With inputs from agencies)
Key Questions Answered
Ask News18Global companies doing business with Iran could face severe economic consequences, including sanctions, if they continue to provide any form of economic lifeline to the country. The US Treasury has expanded its sanctions threat to include digital assets, technology, gold, aviation, and shipping sectors. Companies involved in transporting Iranian crude oil or petroleum products also risk US sanctions.
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August 25, 2026, 01:12 IST
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