Iran vows to resist US sanctions

Iran vows to resist US sanctions

TEHRAN: Iranian Foreign Minister Esmaeil Baghaei said Monday that Tehran would use all available bilateral capabilities to counter US economic sanctions and warned countries against cooperating with Washington’s pressure campaign.

Speaking at a weekly press conference, Baghaei said repeated US sanctions had failed to achieve their intended goals and would only increase pressure on ordinary Iranians.

“Washington’s persistence in failed methods has no result other than proving America’s hatred for the Iranian people,” Baghaei said, according to Iran’s semi-official Tasnim news agency.

He accused the United States of violating free-trade principles and national sovereignty by pressuring other countries to restrict their economic and trade relations with Iran. He said Washington’s actions had also drawn criticism from some of its traditional allies.

Baghaei also rejected reports that Iran had been invited to join the Makkah Joint Defence Agreement. He said Tehran had instead received proposals to hold discussions with regional countries on security matters.

The foreign minister further said the visit of Oman’s foreign minister to Tehran was unrelated to the reported visit of Pakistan’s Chief of Army Staff and Chief of Defence Forces, Field Marshal Asim Munir. Munir travelled to Tehran on Monday as part of efforts to support regional peace and stability.

Meanwhile, Iran’s currency fell to a record low against the US dollar as economic pressure intensified. The Iranian riyal traded at around 2 million to the dollar on the unregulated market on Monday, according to tracking site TGJU.

The currency has lost around 4.5% of its value since US President Donald Trump announced a major campaign against Tehran last week. Washington has also stepped up efforts to isolate Iran by pressuring its remaining trade partners, restricting access to key Persian Gulf ports and targeting the country’s crude oil revenues.