Iran vows forceful response to new U.S. sanctions as rial hits record low

Iran has pledged to retaliate against new U.S. sanctions announced Monday by Treasury Secretary Scott Bessent, vowing a forceful response while expressing confidence that major trading partners will resist Washington's pressure campaign. The measures target 60 individuals, entities, and vessels but stop short of sanctioning Chinese financial institutions, as Iran's rial hits a record low amid double-digit inflation and a projected GDP contraction exceeding five percent. Iranian officials threatened military action and further Gulf oil export reductions, with Economy Minister Ali Madanizadeh stating "the enemies should wait for an attack." China defended its Iran cooperation as compliant with international law, while oil transits through the Strait of Hormuz have fallen from over 20 million barrels daily pre-war to five million. Pakistan reported "significant progress" in mediation talks, though no diplomatic solution appears imminent.