Tehran Responds to New Economic Sanctions Plan: A Sign of Growing Isolation
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Tehran has on Saturday further addressed the new Trump-Bessent plan of long-term economic 'strangulation' and isolation, which in the US Treasury Secretary's words seeks to "collapse" the Iranian government with the "toughest sanctions in history." This of course means that Washington will have to at the same time pressure other nations that do business with Tehran to immediately cease, which could prove a tall order - given already China and Russia are clearly not going to comply.
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CNBCU.S. Treasury Secretary Scott Bessent told CNBC on Thursday that the Trump administration's plan to crush Iran's economy will likely negate the need for major U.S. military operations against the Islamic Republic.
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"The United States' declaration of new economic sanctions on Iran is far more than continued unlawful 'economic warfare' against a single country," Iranian Foreign Ministry spokesman Esmaeil Baqaei said in a post on X. "It is an assertion of extraterritorial sovereignty over every independent Member State of the United Nations."
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ZeroHedgeIran's foreign ministry spokesperson, Esmaeil Baghaei, said the new sanctions initiative amounts to a "declaration of war" on all countries and goes beyond "an illegal economic war against a single nation."
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Also on Friday, President Masoud Pezeshkian, who is responsible for Iran’s economy, similarly pushed back on hardliners’ criticism about the ceasefire deal with the U.S., saying it didn’t represent capitulation.
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CNBCIranian President Masoud Pezeshkian described his country's memorandum of understanding with the U.S. signed on June 17 as a victory for the Islamic Republic. Pezeshkian said "it is better to end the war today" when Iran is "in a position of power and dignity," according to the state news agency PressTV.
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Instead, he has pivoted to sanctions and recently vowed an “economic D-Day” against Iran, teasing an unprecedented level of economic warfare and isolation.
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CNBCThe comments came after U.S. President Donald Trump said the U.S. will launch what he called the "most crushing economic operation ever taken against any country" against Iran. Trump also threatened severe financial penalties on any nation that helps Tehran evade sanctions, and added that "this will be Economic Warfare and Isolation on an unprecedented scale."
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How bad is it? At the beginning of Trump's first presidential term in 2016, US national debt stood at just under $20tn. It has doubled in the decade since.
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Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 Bloomberg US Push to Isolate Iran Runs Into China The Trump administration is preparing additional measures to isolate Iran’s economy, but further pressure could mean targeting China, the dominant buyer of Iranian oil. Joining Bloomberg This Weekend to discuss the situation with hosts David Gura and Christina Ruffini is Bloomberg News Senior Editor Wendy Benjaminson. (Source: Bloomberg)
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02 ZeroHedge "No government has the right to force foreign banks, enterprises, or airports, each operating under the exclusive jurisdiction of their own sovereignty, to refrain from engaging in legitimate trade with a third country," he continued, according to Fars news agency.
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03 MarketWatch Washington has no shortage of options. None are easy. With the U.S. national debt topping $40 trillion and bond markets getting battered, top Trump administration officials like Treasury Secretary Scott Bessent are promising a new push for “fiscal consolidation.” So what are their choices, and when can markets expect to see results? Alternatives abound. Quick results aren’t guaranteed.
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04 Common Dreams No Bending the Knee Here Like every authoritarian before him, Trump is working to co-opt news sources and control what the public sees and hears. Too many corporate outlets are bending the knee—but not Common Dreams. We will never be intimidated, and we will never compromise the core values that define our community: social justice, universal human rights, equality, and peace. Because we are funded by ordinary people like you, our editorial freedom is guaranteed.
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05 Financial Times The Trump economy: $40tn debt, 6.7% mortgages and $5 diesel The president’s agenda is under strain as the Iran war pushes up prices and America’s finances worsen
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06 Fortune Taxing all 938 billionaires at 100% wouldn’t stop the $40 trillion national debt, says Elon Musk. Bernie Sanders says taxing them 5% cuts you a check
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07 CNBC Iran maintained its harsh rhetoric Saturday against the U.S.' plans to impose tough new sanctions.
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08 BBC Business The BBC's Nathalie Jimenez explains how the debt can affect American consumers and the entire world.
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09 NPR Economy Audio will be available later today. The national debt reached $40 trillion this week. It's an eye-popping figure — one that has grown as the influence of debt and deficit hawks has receded in Congress.
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