Baghdad [Iraq], August 21 (ANI): Iranian Parliament Speaker Mohammad Bagher Ghalibaf has called for Iranian and Iraqi business leaders to develop a plan to beat "cruel sanctions," after US Treasury Secretary Scott Bessent warned Tehran of the "toughest sanctions in history".
"If you look at the resources and raw materials of Muslim countries, you will realise that our enemies are coming to plunder them, so we must plan for cruel sanctions in this situation so that we can overcome it," Ghalibaf declared during an address to a joint assembly of commercial representatives in Iraq.
He argued that the conflict with the US and Israel has shifted from the battlefield to money and influence.
"The Americans and Israelis have realised that they cannot handle Iran and Iraq in a tough military war, so they have entered into a cognitive war and an economic war, and now you are the soldiers and commanders in this field," he stated.
To bypass foreign financial blockades, Ghalibaf pointed to local currency mechanisms as an immediate solution, stating that "today, it is possible to conduct commercial transactions in the national currency and exchange it for American currency."
He also highlighted the tight interdependence between regional stability and monetary flow, explaining that "security and economy are necessary and necessary for each other; the economy needs the foundation of security to fly, and if security is not established, capital will not come."
However, he warned, "If we establish security and do not continue it with the economy, it will not be sustainable either."
Ghalibaf maintained that Iran is not a "warmonger" while reaffirming national resolve to defend its honour and dignity.
"We are neither warmongers nor do we seek war, but as Muslims, we believe in one principle in the Islamic Ummah, and that is that we do not allow people to come and trample on our honour and dignity," he said. "In this path, we will sacrifice our property and place, stand and defend our honor and dignity."
His remarks come in response to US Treasury Secretary Scott Bessent warning Iran on Thursday (local time) of the "toughest sanctions in history", saying Washington will pursue coordinated economic isolation against Tehran and seek to "collapse this regime", Al Jazeera reported.
Speaking to CNBC, Bessent said the measures would limit Iran's ability to act through proxy groups and warned that countries continuing to do business with Tehran could face US action.
He said, "maximum economic pressure means likely not a kinetic restart", indicating that the US was unlikely to resume military action against Iran.
On proposed sanctions and China's trade ties with Iran, Bessent told CNBC that China should "get with the programme" and support efforts to reopen the Strait of Hormuz, Al Jazeera reported.
When asked if the US could target China for continuing business with Iran, Bessent said some discussions were better held privately, but added that the US was "confident that everyone wants the Strait [of Hormuz] reopened, and for energy prices to come back down.""Keep in mind that the Chinese get 50 per cent (of their) energy from inside the Gulf. So it would do them a big service to get with the programme," he said, as reported by Al Jazeera.
Bessent's remarks came after US President Donald Trump announced the "most crushing economic operation ever taken" against Iran on Wednesday (local time), warning countries providing financial, business or government support to Tehran of "tremendous economic consequences."
Trump said the measures would target Iran's economic lifelines, including oil smuggling networks, financial transfers, exchange houses, ship registries and front companies. (ANI)
Ghalibaf pushes for trade in local currency to bypass "cruel sanctions" as US threatens "toughest" economic action on Iran
