Treasury Secretary Scott Bessent unveiled a fresh raft of expanded U.S. sanctions on Monday, though he stopped short of the most punishing measures. These sanctions are aimed at isolating Iran's economy.
Iranian officials have responded with strong rhetoric, describing the new measures as gross lawlessness. Tehran has vowed to retaliate and stated that the government is prepared to counter the sanctions, warning Washington to expect an attack in response.
Before the announcement, Iran had threatened a possible military response and a further reduction in oil exports from the Gulf. These measures come as the country is already suffering from high inflation.
Despite the pressure, Iran expressed confidence that major trading partners and many other countries will resist Washington's campaign. Tehran also suggested that Washington is keen to revive talks.