Iran promises response after US sanctions increase
Iran announced that it has resisted the expanded American sanctions aimed at isolating its economy, emphasizing its confidence in the resilience of its trading partners, especially China and Russia, despite warnings that they could face sanctions if they continue to do business with Iran. Washington clarified that it has imposed new sanctions on 60 individuals and entities, but has not targeted Chinese financial institutions directly, in an effort to avoid provoking a retaliatory response from Beijing ahead of upcoming talks between the two presidents. Iran indicated its readiness to respond militarily and noted a deterioration in Gulf oil exports, while Pakistan is moving to ease tensions with Tehran. Meanwhile, market concerns have grown about the impact of the sanctions on shipping traffic through the Strait of Hormuz.
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