Iran has warned that new US sanctions expected to be announced tonight will not bring peace to the region, and has threatened a strong response to any escalation. Iranian Foreign Ministry spokesperson Esmail Baghaei said, Tehran will respond harshly to expanded US sanctions, including measures targeting countries that cooperate with Washington. He warned that any further escalation would have consequences, saying Iran’s hands were not tied.
The warning comes after weeks of deadlock over negotiations to end war between Iran and the United States. Tehran has demanded the lifting of a US naval blockade, the withdrawal of American forces from the region and compensation for damage caused during the conflict, as conditions for reopening the Strait of Hormuz. The strategic waterway is a major global oil route, with around a fifth of the world’s traded oil passing through it before the war began nearly six months ago. Iran has also held separate talks with Oman on managing the waterway.
Meanwhile, the Iranian currency fell to a record low ahead of the expected US sanctions announcement. Iran has faced US sanctions for decades, with the measures contributing to higher prices and economic pressure. However, Tehran says, its economy has adapted by developing domestic industries and expanding trade with new partners.
