US Threatens Toughest Sanctions on Iran, Tehran Vows Response

The Iranian parliament speaker stated on August 21 that Tehran must prepare for unjust U.S. sanctions and that the war with the U.S. must end, as the world now recognizes Iran's victory.

This statement followed U.S. Treasury Secretary Scott Bessent's announcement of additional sanctions against Iran, which he described as the toughest imposed to date. Iran vowed a devastating response to any new U.S. threats. Bessent's comments on Thursday pledged to impose the toughest financial penalties in history with the aim of toppling the Iranian leadership. The U.S. Treasury chief called on American allies and other countries to choose sides and stop doing business with Iran.

The U.S. plans to squash Iran's economy, restrict its foreign trade, and pressure its leaders to end the war. Bessent stated the U.S. will impose the toughest sanctions in history on Iran, a move he suggested would lessen the need for new major military operations. He described the approach as a one-two punch, combining a blockade on Iran with new sanctions.

Oil prices surged on Thursday following Bessent's announcement. Bessent was criticized for stating he did not really understand the spike in oil prices moments after pledging the sanctions. China has refused to join the U.S. plan for toughest ever Iran sanctions. Iran has weathered near-continuous economic sanctions for nearly 50 years since the Islamic Revolution of 1979. Iranian Parliament Speaker Mohammed Baqer Qalibaf, an influential figure, vowed to strengthen Iran's economy and withstand what he called unjust sanctions.