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TEHRAN, August 24, 2026: Iran has warned the United States that it will use all available bilateral capabilities to counter Washington’s economic sanctions, as tensions around the Strait of Hormuz continue to threaten global energy supplies.
Iranian Foreign Ministry spokesperson Esmaeil Baghaei said Tehran had already warned countries against cooperating with US economic pressure. He made the remarks during a press conference on Monday.
Baghaei said Iran would rely on its bilateral relationships to resist the new sanctions. He also discussed the upcoming visit of Omani Foreign Minister Badr Albusaidi to Tehran.
Baghaei said Albusaidi’s visit was not connected to Chief of Army Staff and Chief of Defence Forces Field Marshal Asim Munir’s reported visit to Tehran.
Albusaidi is scheduled to meet Iranian Foreign Minister Abbas Araghchi on Tuesday. The talks will focus on bilateral relations and regional developments.
Iran and Oman are both littoral states of the Strait of Hormuz. Baghaei said the visit aims to strengthen bilateral cooperation and support peace and stability in the region.
US Treasury Secretary Scott Bessent said Washington was entering what he called an “economic D-Day” against Iran.
Bessent said the Trump administration planned to use every available resource to isolate Iran economically. He also warned countries and other actors against challenging US policy toward Tehran.
Bessent claimed that the United States had severely weakened Iran’s military and nuclear capabilities. He did not provide details of the specific economic measures Washington plans to introduce.
China has meanwhile said it will closely monitor developments and protect its interests. Chinese Foreign Ministry spokesperson Lin Jian urged all sides to remain rational and exercise restraint.
Separately, a tanker was struck by an unknown projectile about 63 nautical miles west of Saudi Arabia’s Yanbu port, according to the United Kingdom Maritime Trade Operations.
The incident caused a fire on the vessel’s main deck. Authorities said all crew members were safe and accounted for, with no reported environmental impact.
The incident adds to concerns over maritime security in waters surrounding the Strait of Hormuz and the wider Middle East.
Iran has also warned vessels that violate its transit arrangements in the Strait of Hormuz could face fines, detention or confiscation.
The Persian Gulf Strait Authority said vessels involved in ship-to-ship transfers or transhipment with vessels deemed non-compliant could also face restrictions.
The authority said shipowners seeking removal from its restricted list must submit requests and relevant explanations to Iranian maritime authorities.
The warnings have increased pressure on shipowners and charterers using the strategic waterway, which handles a major share of global energy shipments.
Oil prices fell by more than $1 a barrel on Monday as investors took profits ahead of Washington’s expected announcement of new sanctions against Iran.
Brent crude futures fell $1.23, or 1.3%, to $93.16 a barrel, while US West Texas Intermediate crude dropped $1.36, or 1.6%, to $85.70.
Oil prices had gained more than 5% last week as US-Iran peace talks stalled and shipments through the Strait of Hormuz remained heavily disrupted.
Analysts warned that further restrictions on Iranian oil exports could tighten global supplies. They also cautioned that increased regional violence could create additional risks for energy markets.
Iran has granted permission for some Iraqi oil tankers to pass through the Strait of Hormuz following repeated requests from Baghdad, according to Iranian state media.
With sanctions, maritime restrictions and stalled diplomacy adding pressure to the energy market, the situation around Hormuz remains a key concern for global oil supplies.
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