Key facts
- Iran's Foreign Ministry declared all countries must refuse to implement US sanctions.
- Tehran described the new US economic measures as illegal and 'state terrorism'.
- Iran threatened retaliation against any nation that cooperates with the US sanctions.
- The UAE has ended all trade with Iran, a move Tehran believes was coordinated with the US.
- China stated it opposes unilateral sanctions and has previously directed firms to ignore US warnings on Iranian oil imports.
Iran has urged all nations to refuse implementation of new US sanctions, labeling them illegal and a form of 'state terrorism' that endangers millions of civilians. The Iranian Foreign Ministry stated that participation in such sanctions constitutes complicity in imposing one state's unlawful will on others. Tehran has vowed to retaliate against any country that cooperates with the US, with its security chief warning Gulf neighbors against joining the campaign. The UAE, Iran's largest Middle Eastern trading partner, has reportedly ended all trade with Iran in a move believed to be coordinated with Washington. China has reiterated its opposition to unilateral sanctions lacking international legal basis, though its firms have previously been directed to disregard US warnings on Iranian oil imports. However, Iran's oil shipments to Asia have reportedly ceased due to a US naval blockade, contributing to hyperinflation and a significant depreciation of the Iranian rial. The US views Iran's economy as on the brink of collapse, while Iran's foreign minister dismissed the sanctions as a sign of US desperation and a shift from military actions to 'the same old plans'. Shipping through the Strait of Hormuz remains disrupted, adding pressure to global energy markets.