Araghchi Dismisses US Sanctions Threat as Desperation

Iranian Foreign Minister Abbas Araghchi on Sunday rejected the threat of further US sanctions, calling it a sign of Washington's desperation. He was responding to measures announced by US Treasury Secretary Scott Bessent, who threatened Iran with "the toughest sanctions in history".

The Iranian economy is already facing significant pressure from international sanctions and the consequences of a war that has lasted nearly six months. Tehran has meanwhile effectively halted the passage of unauthorized oil tankers through the strategic Strait of Hormuz, contributing to a rise in global oil prices.

The US return to sanctions following military operations demonstrates the failure of the approach taken so far, Araghchi said, adding that Washington must engage with Tehran respectfully if it wants to reach a solution.

US President Donald Trump has meanwhile warned of economic consequences for countries that provide aid to Iran. The US has also called on China, which imports most of Iran's seaborne oil, to cooperate. Beijing continues to advocate for a diplomatic solution.

Iran has discovered more than 7.5 trillion cubic feet (about 212.4 billion cubic meters) of natural gas in a field south of Fars Province, Iranian Oil Minister Mohsen Paknejad said Sunday in a statement published by state media.

(Reuters, sab)