Iran vows retaliation over US sanctions
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The gist
Iran vows 'devastating' retaliation if new U.S. sanctions are issued. Treasury Secretary Bessent will announce the measures on Monday.
Background
The U.S. has threatened to impose what Treasury Secretary Scott Bessent calls 'the toughest sanctions in history' on Iran, escalating economic pressure amid the ongoing Middle East conflict. Iran, already under decades of sanctions, has warned of a 'devastating' or 'seismic' response, including potentially blocking oil shipments through the Strait of Hormuz. The announcement is expected on August 24, with details to come from Bessent.
How it unfolded
- Aug 20, 2026The U.S. says it will impose 'toughest sanctions in history' on Iran, according to Reuters.
- Aug 21, 2026Iranian officials, including security chief Mohsen Rezaei, vow 'earthquake-like' retaliation if sanctions proceed.
- Aug 23, 2026Iran's Armed Forces Chief of Staff warns of 'devastating responses' to new threats; Treasury Secretary Bessent says details to come Monday.
- Aug 24, 2026Bessent is expected to announce the new sanctions; Iran reiterates threats to retaliate against countries cooperating with the measures.
Who’s saying what
- Official
- U.S. Treasury Secretary Scott Bessent: 'We are going to squash the economy of this murderous regime.'
- Official
- Iran's security chief Mohsen Rezaei: Tehran will respond with an 'earthquake-like' retaliation if Washington proceeds.
- Analysts
- China buys more than 80% of Iran's shipped oil, and further economic warfare risks retaliation against Washington.
Still unverified
The specific details of the new sanctions have not yet been announced; Iran's threats of retaliation are statements, not confirmed actions.