Iran Dismisses New US Sanctions Ahead of Washington Announcement

Iran's foreign minister dismissed on Sunday a fresh round of U.S. economic sanctions as a desperate move, while Washington prepares to announce what it calls the "toughest sanctions in history" in a bid to cripple Tehran's finances. U.S. Treasury Secretary Scott Bessent is scheduled to hold a press conference at 2 p.m. EDT (1800 GMT) on Monday, August 24, to detail the new measures targeting entities supporting Iran's economy.

Iranian Foreign Minister Abbas Araghchi, in a video posted on Telegram, said the shift from military operations to economic pressure showed the U.S. was struggling to achieve its objectives. "The fact that they U.S. leaders have moved on from military operations ... to bring up the same old plans shows that they are desperate," he stated. He asserted that Tehran would not be defeated by the sanctions and called on Washington to communicate respectfully to find a "solution based on justice and honour."

The planned sanctions package represents an escalation in the economic campaign accompanying the war between the U.S., Israel, and Iran, which began with attacks on February 28. Bessent has described the upcoming measures as an "economic D-Day" and the...