Iran warned on Monday it would retaliate after the U.S. Treasury announced fresh sanctions against 60 individuals, entities and vessels, though the list omitted Chinese financial institutions suspected of facilitating Iranian oil trade.
The measures were disclosed by U.S. Treasury Secretary Scott Bessent in Washington, escalating pressure on Tehran amid a fragile security environment in the Gulf. Speaking to reporters, Bessent said the expanded restrictions were designed to reinforce existing enforcement without destabilizing global markets. 'Why would I want to destroy the global financial system?' he said when pressed on the scope of the new actions. 'We want to make clear here today that nobody is above the reach of U.S. sanctions.'
Iran’s Economy Minister Ali Madanizadeh responded by stating on state television that the country’s defensive posture had shifted. 'Our defense is no longer defensive; enemies should expect an attack,' he said, framing the remarks as a response to ongoing military pressure. The Islamic Revolutionary Guard Corps separately warned of consequences following the sanctions announcement.
The escalation follows a recent tanker incident near the Strait of Hormuz. A vessel was struck by an unidentified projectile about 17 kilometers northeast of Ash Shishah, Oman, and left inoperable. The UK Maritime Trade Operations agency reported the damage but did not attribute responsibility.
The new sanctions come as Washington seeks to curb Iran’s oil exports to China, where Beijing acknowledged its cooperation with Tehran operates within international law. Brent crude oil prices fell for a second consecutive session, reflecting market caution amid the heightened tensions.
Diplomatic talks are scheduled next month between U.S. President Donald Trump and Chinese President Xi Jinping, with regional stability expected to feature prominently on the agenda.
