Long queues formed at petrol stations in Tehran on Tuesday after the United States announced fresh sanctions aimed at pressuring Iran into submission. The US Treasury Secretary Scott Bessent laid out plans for the 'economic asphyxiation' of Iran, stating the objective is to sever every economic lifeline that sustains the regime. Though Iran's leaders have shrugged off the tough talk, some residents of the capital feared that they would feel the pinch. 'Naturally, sanctions affect people's lives. People are being hurt, both those who are financially well-off and those who are financially weak,' said realtor Mehdi Yazdian, 55, who urged the authorities to control prices.
The US has turned to pulling economic levers six months into a war on Iran that has ground to a stalemate militarily, with peace talks stalled and most traffic through the crucial Strait of Hormuz blocked. The expanded secondary sanctions will target Iran's digital assets and its technology, gold, aviation and shipping sectors. It also issued new sanctions against 60 individuals, companies and vessels that allegedly aid Iran in oil revenue generation, weapons procurement and cyber operations. These sanctions hit entities around the world, including in the United Arab Emirates, Hong Kong, China, Singapore and in Europe.
China, a key customer for Iranian oil, said it opposed the sanctions and vowed to 'take all necessary measures to firmly safeguard its own rights and interests'. Bessent did not rule out the possibility of Chinese banks being targeted, and vowed that any entity 'that facilitates money laundering on behalf of Iran will be removed from the US dollar system'. Iran, however, was dismissive of the threat and predicted 'another defeat' for Washington. 'We've been waiting for these plans for a long time, and the government is and was ready and has a two-year plan to manage these events,' said Economy Minister Ali Madanizadeh.
FAQs
- **What are the new US sanctions targeting?** The new US sanctions target Iran's digital assets, technology, gold, aviation and shipping sectors, as well as 60 individuals, companies and vessels allegedly aiding Iran in oil revenue generation, weapons procurement and cyber operations.
- **How is Iran responding to the sanctions?** Iran has dismissed the threat of the new sanctions and predicted 'another defeat' for Washington. Economy Minister Ali Madanizadeh stated that the government has a two-year plan to manage these events.
- **What impact are the sanctions having on Iranian citizens?** Some residents of Tehran, like realtor Mehdi Yazdian, fear that they will feel the pinch of the sanctions, noting that they affect people's lives regardless of financial status.
- **What is the international reaction to the US sanctions?** China, a key customer for Iranian oil, opposes the sanctions and has vowed to protect its own rights and interests. Other countries may face isolation if they do not support the US economic campaign against Iran.
