Iran Condemns US Sanctions as Unjustified
Tehran has expressed strong condemnation of the latest sanctions imposed by the United States, labeling them as "illegitimate and unjustified." The sanctions follow Iran's missile attack on Israel on October 1, which was a direct response to the assassination of key figures in the region, including Hamas leader Ismail Haniyeh and Hezbollah's Hassan Nasrallah. Iranian Foreign Ministry spokesman Esmail Baghaei stated that these sanctions are a part of Washington's ongoing strategy of "threats and maximum pressure" against Iran, aimed at crippling its oil industry. He emphasized that such measures will not deter Iran from defending its sovereignty and national interests.
The sanctions are designed to freeze assets of targeted Iranian companies and prohibit American individuals from engaging in commercial activities with them. The US Treasury Department stated that these actions are intended to limit Iran's ability to generate revenue that could destabilize the region, highlighting the ongoing tensions amid regional conflicts.
Rising Tensions and Oil Prices
As the situation escalates, the geopolitical landscape remains fraught with uncertainty. The Iranian missile attack, involving approximately 200 rockets launched at Israel, was justified by Tehran as a necessary reaction to perceived threats against its leadership. Baghaei further asserted that the sanctions would only enable Israel to continue its military actions in the region, thereby threatening global peace.
In light of these developments, oil prices have surged to their highest levels since August, reflecting market fears regarding the potential for further conflict and its implications for the global oil supply. US President Joe Biden has expressed a desire to avoid escalating military actions, particularly against Iranian nuclear facilities and oil infrastructure, as the situation continues to unfold.
