Iran Calls US Sanctions Threat 'Desperate' as Hormuz Shipping Stalls

Iran's foreign minister has dismissed the threat of fresh US sanctions as a sign of desperation, insisting that Tehran will not be broken by economic pressure. The remarks come ahead of an expected announcement by US Treasury Secretary Scott Bessent, who has promised to impose what he calls "the toughest sanctions in history" on Iran.

In a video posted on Telegram, Foreign Minister Abbas Araqchi said Washington had moved on from military operations to "the same old plans," which he argued showed that US leaders were "desperate." He added that all previous American actions, including blockades and military moves, had failed, and that the new measures would fail as well. Araqchi urged Washington to speak to Iran respectfully and seek "a solution based on justice and honour."

The defiance comes as the war, which began with US and Israeli attacks on February 28, has taken a heavy toll on Iran's economy and infrastructure. Thousands have been killed in airstrikes, and the country's navy and air force have been severely degraded. Yet Tehran has managed to bring shipping in the Strait of Hormuz to a virtual standstill, refusing to allow unauthorized oil tankers through the vital waterway. The effective blockade has pushed up global oil prices.

US President Donald Trump has warned of economic consequences for any country providing a lifeline to Iran. China, which buys more than 80% of Iran's shipped oil, has urged diplomacy. Meanwhile, Pakistan's army chief, General Asim Munir, is set to visit Tehran on Monday as part of regional mediation efforts. A Pakistani government source said Munir would discuss recent developments, including the US sanctions threat.

Iranian Parliament Speaker Mohammad Baqer Qalibaf said on Saturday that Tehran had received "numerous messages" from neighbouring countries about new regional security arrangements, though he did not name them. He accused the US of endangering its allies for the sake of Israel and called for an independent, "homegrown" regional order.

While Tehran remains defiant, President Masoud Pezeshkian has also called for a diplomatic solution. "It would be better to end the war today, when we are powerful and have dignity," he was quoted as saying, adding that the world acknowledges Iran's victory and condemns American attacks on schools, hospitals, and infrastructure.