Iran called the fresh threats of economic and diplomatic warfare issued by President Donald Trump “economic terrorism” and an indication of the “anti-human, lawless and hegemonic nature of” the US government.
The statement, issued by Iran’s Foreign Ministry on Thursday, August 20, claimed that the US economic sanctions “target the fundamental human rights of every Iranian citizen, constitute ‘economic terrorism’ and ‘crimes against humanity’ and those who order and implement these sanctions deserve to be tried and punished for such heinous crimes.”
Trump, in a social media post on Wednesday, had announced an “economic d-day” against Iran, claiming to launch the “most crushing economic operation ever taken against any country.”
The measures, which came after the US failed to put military pressure on Iran to open the Strait of Hormuz, shut after the US-Israeli military aggression against the country called for “economic warfare and isolation” against it.
Read more: Strait of Hormuz will remain shut, says Iran, as US threatens intensified economic warfare
Trump asked all allies in the region and countries across the world to “stand with the US to isolate, and defeat the Iran threat.”
“Any country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face tremendous economic consequences,” Trump said in his post.
Later on Friday, Treasury Secretary Scott Bessent commanded all countries to cut “all remaining ties with Tehran” or face their own “economic oblivion.”
Though Trump claimed the objective behind his “economic measures” was to make Iran give up its nuclear program, it is widely considered that the real objective behind the present escalation was to force Iran to give up its control over the Strait of Hormuz.
Later on Thursday, the US re-designated Lebanese resistance force Hezbollah as an “Iranian proxy” and imposed fresh sanctions against some of its leadership and other individuals.
Attempts to hide military defeat
The Iranian Foreign Ministry statement noted that this campaign of economic warfare was deployed by the US after it failed to achieve any of its objectives during its military aggression against Iran in the last year and a half.
It claimed these sanctions and economic embargoes announced by the US will merely add to the long list of its crimes against the Iranian people over the last 73 years, since the CIA-sponsored coup against Mohammad Mossadegh on August 19, 1953.
Calling the act a failed policy, the Iranian Foreign Ministry claimed that they will fail again and will not have the slightest effect on the determination of the Iranians to safeguard their country’s independence, dignity, and national sovereignty.
Iran has been subjected to various kinds of unilateral and international sanctions for decades over its nuclear program. Trump, during his first term, had unilaterally withdrawn from the UN backed nuclear deal and re-imposed sanctions against Iran, calling it a “maximum pressure campaign.”
These sanctions, still in effect after eight years, despite their massive impact on Iran’s economy, have failed to achieve its stated political goal of forcing Iran to give up nuclear enrichment.
On Thursday, Iran asked the UN and other countries to stand up to Washington’s “pathological addiction” to use military aggression and unilateral sanctions as it has placed “global peace and security under an objective threat” and caused a tremendous loss of credibility for international laws and institutions.
Economic terrorism
Treasury Secretary Bessent had hinted about the economic warfare against Iran last week, after claiming the US has complete control over the Strait of Hormuz and the flow of oil through it has almost reached pre-war levels.
However, independent observers had questioned his claims citing ship traffic data. The oil prices have since been rising, reaching above $90 BPD for the first time in a month, revealing the dwindling international supplies and putting Bessent’s claims under fresh scrutiny.
Observers have claimed that the US has already started pressuring its allies in the region to impose an economic blockade on Iran after the UAE became the first country to do so on Tuesday.
Since Tuesday, various other countries in the region, such as Egypt and Qatar, both close US allies, have given statements asking Iran to open the Strait of Hormuz.
Reacting to the US threats of economic warfare, Iranian Foreign Minister Abbas Araghchi declared that the sanctions were “bound to fail.”
14 years ago: “Most crippling sanctions in history.” Failed.
8 years ago: “Maximum pressure.” Failed.
5 months ago: “Unconditional surrender.” Failed.
Today: “Most crushing economic operation ever.” Bound to fail.
We have seen this movie before. Same bull. Different bullies. pic.twitter.com/CNMSopprV5
— Seyed Abbas Araghchi (@araghchi) August 21, 2026
The Iranian foreign minister also called it an attempt to divert the US public’s attention away from Trump’s economic failures on the domestic front and cited reports of an unprecedented rise in the national debt and interest costs.
Araghchi asked the Trump administration to learn from its military failures in Iran and warned that “doubling down on failed policies will only bring further defeat-and enmity of Iranians.” He also claimed that “economic terrorism” against Iran will also threaten the global economy.
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Once again, Iran calling it as it is.
It’s so weird saying Iran is the good guy. But it really is a matter of who is the lesser of two evils at the moment and I’m pretty confident the world is just done with the US now. They’re on a list of evils that is pretty much at the bottom of the pile of lists whereas Iran is maybe a sheet or two above.
