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Analysts say Tehran could intensify the dispute militarily after the United States announced new efforts to squeeze Iran’s economy. One Iranian official vowed that “not a single drop of oil” would leave the gulf.

Aug. 24, 2026Updated 5:12 p.m. ET
Iranian officials brushed off the U.S. announcement on Monday of more economic sanctions against their country and the threat of even stronger actions to come.
Seyed Ali Madanizadeh, the finance minister, said that Iran was already prepared to deal with American efforts to further isolate it from the world economy.
“The government has a two-year plan for the country’s economic affairs, and all matters have been covered in this plan,” he said in an interview on state media after U.S. Treasury Secretary Scott Bessent announced the additional economic pressure. “Sanctions are not new” to Iran, Mr. Madanizadeh added.
Iran’s influential Islamic Revolutionary Guards Corps said that Washington’s new economic campaign would only punish the Iranian people.
“By waging economic warfare and imposing multilayered sanctions, the enemy seeks to sow despair, put pressure on people’s livelihoods and undermine social trust,” the Guards Corp said in a statement on Iranian state media shortly after Mr. Bessent’s announcement.
Mr. Bessent said that more than “60 entities, individuals, and vessels across the world that enable the Iranian regime to procure illicit nuclear and missile technology, conduct cyber operations, and generate oil revenue” had been sanctioned and that the United States would soon take additional steps to “collapse every last option for Iran.”


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