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Iranian Foreign Minister Abbas Araghchi dismissed Donald Trump’s threat to impose “crushing” economic sanctions on the Islamic Republic, calling it a “diversion” and promising the move “will only bring further defeat.”
The US federal debt hit a record $40 trillion on Tuesday, according to the Treasury Department, a grim milestone that leaves the US spending more on interest payments than on national defense and 50% more than on children’s programs.
“Doubling down on failed policies will only bring further defeat – and enmity of Iranians. US economic terrorism threatens global economy and sovereignty worldwide,” Araghchi added.
Also responding to Trump’s move, Iranian Deputy Foreign Minister Kazem Gharibabadi said US decision-making was based on “flawed calculations.”
Gharibabadi said the war has failed to deliver the results the US wanted, so “now they’ve given their next failure a new name: ‘economic war.’”
Global oil prices have remained high since the US and Israel went to war against Iran in February, closing of the Strait of Hormuz. There are growing concerns of a fuel supply crisis as global reserves rapidly decline.
