US Tightens Iran Sanctions, Tehran Predicts 'New Defeat'

The United States announced tightened economic sanctions against Iran and its trading partners, with Treasury Secretary Scott Bessent issuing threats. Iran responded with derision, predicting a "new defeat" for the US. Bessent warned that any country engaging in business with Iran would face the "full power" of US sanctions, including China, a major buyer of Iranian oil. He stated that no one is beyond the reach of US sanctions and that a "major announcement" regarding a financial institution is expected this week. Iran's economy minister said Tehran is prepared with a two-year plan to counter the measures. An expert cautioned that Iran's economy, while struggling, is far from collapse and that Tehran is ready to escalate rather than accept pressure indefinitely.