Iran says US ‘economic war’ recurring scenario it knows how to confront

Iranian Foreign Minister Abbas Araghchi said Sunday that Washington's "economic war" is a recurring scenario that Tehran knows how to confront.

Speaking during a visit to the mausoleum of Ayatollah Ruhollah Khomeini, the founder of the Islamic Republic, in Tehran, Araghchi said the measures described by US President Donald Trump as an "economic operation" were merely a repetition of Washington's previous policies toward Iran.

He said that the US had earlier threatened Iran with "military operations" and attacks before returning to its previous plans.

Araghchi argued that Washington's shift from threats such as "we will strike and do this and that" back to its old policies showed that the US is unable to develop new options against Iran.

"They cannot think of any other solution in confronting the great Iranian people, so they repeatedly put forward the same old plans," Araghchi said.

"They must understand that there is no path other than speaking to the Iranian people with respect and finding a solution based on justice and dignity," he added.

Trump announced this week his intention to launch "the most crushing economic operation ever taken against any country," describing his maximum-pressure campaign against Iran as "Economic Warfare and Isolation on an unprecedented scale."

Iran and the US signed the memorandum of understanding in June through Pakistani and Qatari mediation, ending hostilities that began in February and to pursue negotiations toward a final agreement.

Talks have since stalled amid disputes over implementation of the memorandum and arrangements for navigation through the Strait of Hormuz, a critical route for global oil and gas exports.