Iran has warned that any fresh US threats will trigger a “devastating” response, as the Trump administration prepares to announce what it describes as the toughest financial sanctions in history against Tehran.

US Treasury Secretary Scott Bessent is expected to announce details of the new measures on Monday, while President Donald Trump has warned that countries providing financial or other support to Iran could also face economic consequences.

Iran Warns Of Retaliation

Iranian Armed Forces chief of staff Major General Ali Abdollahi said the country was prepared to respond across multiple domains if Washington escalates the confrontation.

“With preparedness across land, sea, air, air defence and cyberspace, Iran’s armed forces will respond to the enemy’s new threats with crushing, punishing and devastating responses,” Iranian media quoted him as saying.

Iran has suffered major damage to its economy and conventional military capabilities during the nearly six-month-old US-Israel war. However, it retains missile and drone capabilities that could threaten regional targets and shipping through the strategically important Strait of Hormuz.

Trump Says Iran Is Not Ready For A Deal

Trump said on Friday that Iran was not yet prepared to make what he described as the “right deal”, while indicating that Washington was assessing the situation before deciding its next steps.

“We have total control of that entire region having to do with the Strait of Hormuz, and that means well into it, the land areas,” Trump told reporters.

“So, they would love to make a deal, but they’re not ready to make the right deal, in my opinion,” he said.

At a rally in Myrtle Beach, South Carolina, Trump again warned that Iran would not be allowed to acquire a nuclear weapon.

“We cannot let them have a nuclear weapon, we cannot let Iran have a nuclear weapon, or you will see some very bad things,” Trump said.

Trump also made an extraordinary claim about the Strait of Hormuz, saying, “I view the Strait of Hormuz as an American territory right now, it’s an American territory.”

US Vows ‘Toughest Sanctions In History’

Bessent said the new measures would form part of a broader campaign to intensify economic pressure on Tehran.

“It is a one-two punch. We have the blockade, and we are going to have the toughest sanctions in history,” Bessent said, adding that Washington was seeking to “collapse this regime”.

Trump has separately warned countries against providing Iran with financial, business, airport or government support, raising the possibility of secondary sanctions against Tehran’s trading partners.

China, Iran’s largest buyer of seaborne oil, has rejected Washington’s approach. Beijing’s embassy in Washington said sanctions and pressure would not resolve the dispute and called for diplomacy.

More than 80 per cent of Iran’s shipped oil went to China in 2025, according to Kpler data cited by Reuters. Any further US pressure on Beijing could risk retaliation amid existing disputes between Washington and Beijing over trade and critical minerals.

Iran Admits Sanctions Are Hurting

Despite its defiant response, Iran has acknowledged the serious economic pressure facing the country.

Parliament Speaker Mohammad Baqer Qalibaf said Tehran must prepare to withstand the sanctions and find ways to overcome them.

“No matter how much military power we have, we won’t survive if people are hungry and we don’t have financial turnover, economic growth and national production,” Qalibaf said.

Iran has been under US sanctions for decades, but the latest pressure comes as the country faces high inflation, a weakening currency, energy shortages and damage to infrastructure.

Oil Prices Rise As Hormuz Remains Flashpoint

Oil prices rose on Friday following Washington’s latest sanctions threat as markets anticipated tighter supplies and continued disruption to shipping.

Brent crude settled at $94.39 a barrel, while US West Texas Intermediate settled at $87.06.

The Strait of Hormuz remains a major flashpoint. Before the war, the narrow waterway carried roughly one-fifth of global oil trade. Shipping traffic has since fallen sharply, with only seven commodity ships recorded passing through the strait on Thursday, according to Kpler data cited by Reuters.

Iran and Oman have held separate talks aimed at restoring navigation through the waterway, while the US has opposed any arrangement that would impose a toll on ships.

NATO’s top commander, US Air Force General Alexus Grynkewich, also convened a video conference of allied defence chiefs to discuss ways to support freedom of navigation through Hormuz. NATO stressed that the effort was not a NATO mission but said the alliance could help coordinate support.

War Has Increased Pressure On Trump

The conflict has inflicted significant damage on Iran, but Trump has yet to achieve all the objectives he set at the beginning of the war, including dismantling Iran’s nuclear programme and creating conditions for the overthrow of its clerical leadership.

The war has also pushed up fuel prices and affected Trump’s domestic standing. A Reuters-Ipsos poll this week showed his approval rating at its lowest level of his current term.

The US and Iran have announced ceasefire arrangements twice, in April and June, but efforts to restore normal shipping through the Strait of Hormuz have yet to produce a lasting settlement.

Washington is now placing greater emphasis on economic pressure, with the Trump administration preparing new sanctions against Tehran and potentially its international partners.

Iran, meanwhile, insists it can withstand the pressure while warning that further escalation could trigger a military response.

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