Iran Threatens Retaliation Over New US Sanctions

Iran has threatened retaliation against the US following new sanctions announced by Washington. Economy Minister Ali Madanizadeh said Tuesday the country is fully prepared, warning enemies of potential attacks. US Treasury Secretary Scott Bessent unveiled the sanctions Monday under "Operation Economic Outcast," targeting Iranian revenue sources including digital assets, technology, gold, aviation, and shipping. Chinese financial institutions were spared, though countries continuing trade with Iran risk exclusion from the dollar-based system. Pakistan reported significant progress in mediation efforts Tuesday, focusing on avoiding further escalation and reopening the Strait of Hormuz. The strait remains a critical point of tension affecting global oil trade.