Iranian Foreign Minister Abbas Araqchi stated on Thursday that U.S. President Donald Trump's economic war declaration against Iran is merely a diversion from America's own economic troubles. Araqchi warned that additional pressure would be futile.
Trump had previously announced what he described as the 'strongest economic offensive' against any nation, aimed at isolating Iran economically.
In a post on platform 'X', Araqchi remarked that the so-called 'Economic Victory Day' is nothing but a distraction from America's crisis: unprecedented debt and rising interest costs. He added that persisting with failed policies would only lead to more defeats and hostility from Iranians.
Global markets were jolted when Iran demonstrated an ability to control maritime movement through the Strait of Hormuz, through which about one-fifth of the world's oil trade passed before the conflict erupted in late February.
The U.S. and Iran had twice announced ceasefire agreements in April and June to restore free navigation through the Strait of Hormuz to pre-conflict levels and move towards ending the dispute; however, both agreements quickly collapsed, even as Israel largely withdrew from the conflict.
Trump is seeking to seize Iran's stockpile of highly enriched uranium and is looking for a new deal with stricter restrictions to curb Iran's nuclear program, replacing the agreement from which the U.S. unilaterally withdrew in 2018. Iran, a signatory of the Nuclear Non-Proliferation Treaty, has insisted for decades that its nuclear programs are for peaceful purposes only.