Iran says it has enough reserves as US pressure intensifies

Iran has rejected claims that US sanctions are pushing its economy toward collapse, with Central Bank

Iran has rejected claims that US sanctions are pushing its economy toward collapse, with Central Bank Governor Abdolnasser Hemmati saying Tehran has sufficient foreign currency reserves to manage the pressure.

Speaking at a conference in Tehran on Tuesday, Hemmati directly responded to US President Donald Trump’s claims about Iran’s economic situation.

“Iran has foreign currency, and it has enough,” he said.

Hemmati said the Central Bank was prepared to inject around $2 billion into the foreign exchange market to support the national currency. He added that Iran was continuing to receive foreign currency revenues and collect outstanding payments.

The central bank governor also said Iran had domestic reserves and other financial resources, although he declined to disclose details.

His comments came as the Iranian rial remained under pressure against the US dollar following tighter American sanctions and growing regional tensions.

Hemmati said the recent decline in the rial was driven largely by psychological factors rather than a complete breakdown of Iran’s economic system.

He also dismissed concerns that Iran was moving toward hyperinflation. According to him, the possibility remained low despite high inflation and the severe economic pressure facing the country.

However, Hemmati acknowledged that unemployment had increased following the war and damage to infrastructure. He said small and medium-sized businesses would receive greater priority for financing during the second half of the Iranian calendar year.

Meanwhile, Iranian President Masoud Pezeshkian has said Tehran is ready to immediately reciprocate if Washington returns to its commitments under an interim agreement reached in June.

Speaking on the sidelines of the Shanghai Cooperation Organisation summit in Bishkek, Pezeshkian said Iran’s position remained linked to the implementation of the agreement.

He said Tehran would respond immediately if the United States resumed fulfilling its obligations under the memorandum.

The interim understanding was reached as part of diplomatic efforts to end the conflict between Iran and the United States. However, the arrangement later faced serious disagreements over its implementation.

Iran has also repeatedly linked the security of the Strait of Hormuz to Washington’s actions. Tehran says unrestricted navigation through the strategic waterway depends on the United States honouring the agreed terms.

The latest developments come after renewed military exchanges between Iran and the US.

Iranian authorities have warned that countries allowing their territory, airspace or military facilities to be used for attacks against Iran could face retaliation.

Iran’s Armed Forces General Staff and Khatam al-Anbiya Central Headquarters said Tehran respected the sovereignty of neighbouring countries but would not accept attacks launched from their territory.

The statement warned that any further aggression would result in a stronger military response.

At the same time, the United States is reportedly considering limited military strikes against Iranian radar and missile positions around the Strait of Hormuz.

The reported plan is aimed at reducing the threat posed to commercial shipping and US military assets operating in the strategic waterway.

The issue has gained urgency after recent exchanges between Iranian and US forces in the region.

US President Donald Trump has also warned that Washington could respond forcefully to Iranian attacks on American forces.

The Strait of Hormuz remains one of the world’s most important energy routes, making any escalation in the area a major concern for international oil markets and global shipping.

Tanker hit by projectiles near Oman

Tensions increased further after a tanker was struck by three unidentified projectiles while leaving the Strait of Hormuz near Oman.

The incident occurred east of Khasab as the vessel was completing its outbound journey.

No casualties or environmental damage were reported.

Authorities have launched an investigation and advised ships operating in the area to exercise additional caution.

Iran has also criticised the European Union over its support for US sanctions.

Foreign Ministry spokesperson Esmaeil Baghaei accused the bloc of compromising its political and legal independence by supporting Washington’s pressure campaign.

He questioned how European governments could support American sanctions while maintaining their own legislation designed to protect European companies from certain extraterritorial US measures.

Baghaei said the EU’s current position was inconsistent with its earlier approach to American sanctions.