Iranian President Masoud Pezeshkian said Friday that the conflict between the U.S. and Iran should end, stating that the world has accepted an Iranian victory. The remarks, reported by state-run IRNA News Agency, follow a U.S. announcement of upcoming economic sanctions intended to isolate the Iranian government.
The statement comes during a period of restricted maritime trade in the Strait of Hormuz, a critical waterway for global energy supplies. The passage is currently affected by an Iranian counterstrike and a U.S. naval blockade, according to reports. President Trump stated Wednesday that his administration is negotiating to reopen the strait, which carries approximately 20% of global oil consumption during peacetime.
U.S. Treasury Secretary Scott Bessent is scheduled to announce the details of new economic sanctions on Monday. President Trump described the upcoming measures on Truth Social as an "economic D-Day" aimed at stopping oil smuggling, cash transfers, and front companies. Iranian Foreign Affairs Minister Abbas Araghchi characterized the move as "economic terrorism" and a distraction from U.S. domestic debt issues.
For the Iranian population and government, the "crushing" sanctions described by U.S. officials target the nation's primary financial mechanisms, including ship registries and exchange houses. The U.S. Treasury Department intends for these measures to cause a total collapse of the current Iranian administration. If successful, this would fundamentally alter the legal and economic rights of Iranian citizens and their access to international markets, while the Iranian government claims these policies will instead foster further enmity.
The situation sets a precedent regarding the control of international waterways, as President Trump has suggested the Strait of Hormuz could be designated as U.S. territory during ongoing negotiations with Iran and Oman. The concrete impact on global trade will become clearer on Monday when Secretary Bessent unveils the specific legal and financial restrictions. Further developments depend on whether U.S. allies join the effort to isolate Iran and the outcome of the naval blockade currently in place.