Iran Slams New US Sanctions as Return to Classic Colonialism

Iran on Saturday sharply criticised the latest economic sanctions imposed by the United States, accusing Washington of attempting to extend its authority beyond its own borders and interfere with the sovereign decisions of other countries. Iranian Foreign Ministry spokesperson Esmaeil Baghaei described the measures as arbitrary and lacking a basis in international law, while calling them an example of what he termed a return to “full-scale classic colonialism.” His remarks came as Washington prepares to intensify economic pressure on Tehran amid an already tense confrontation between the two countries. (The Tribune)

Baghaei said the new US measures amounted to an attempt to impose what he described as “extraterritorial sovereignty” over independent UN member states. Tehran has objected particularly to the use of secondary sanctions, which can target foreign companies, financial institutions and other entities for maintaining economic ties with Iran. The Iranian Foreign Ministry has argued that such measures violate the principle of sovereign equality contained in the UN Charter. Iran has also characterised the latest US sanctions as economic warfare and a broader challenge to the independence of other countries. (The Tribune)

Washington Escalates Pressure

The latest dispute follows a series of signals from the Trump administration that Washington intends to significantly increase economic pressure on Tehran. US Treasury Secretary Scott Bessent said on August 20 that the United States would impose what he called the “toughest sanctions in history” on Iran. President Donald Trump has also warned countries and companies providing economic support to Tehran that they could face consequences from Washington. The US administration has presented the sanctions campaign as a way of increasing pressure on Iran without necessarily relying on another major military operation. (Reuters)

The US Treasury's Office of Foreign Assets Control has continued announcing Iran-related designations, with new measures listed on August 20. The sanctions come against the backdrop of Washington's efforts to restrict Iran's oil revenues and pressure countries that continue trading with Tehran. China is a particular focus because it remains a major buyer of Iranian oil. Reuters reported that Iranian oil shipments have already been sharply disrupted, with the Strait of Hormuz also remaining a major point of tension in the wider confrontation. (OFAC Treasury)

Economic Pressure Deepens

For Iran, the renewed sanctions campaign comes at a difficult economic moment. US and Israeli military action, sanctions and restrictions on oil exports have placed additional pressure on an economy already dealing with inflation, currency weakness and disruptions to trade. The Associated Press reported that Iranian households are facing increasing difficulty affording basic goods as inflation and economic losses deepen. (AP News)

The latest exchange also comes as diplomatic efforts remain uncertain. Tehran has rejected Washington's sanctions as unlawful and continues to accuse the United States of using economic pressure to dictate decisions to sovereign states. Washington, meanwhile, has indicated that sanctions are intended to force Iran to change its position on key issues, including its nuclear programme and the reopening of the Strait of Hormuz. With both sides maintaining sharply different positions, the latest sanctions are likely to add another layer of economic and diplomatic pressure to an already volatile US-Iran relationship. (Reuters)

Iran has accused the United States of violating key provisions of the recently signed memorandum of understanding (MoU) during technical-level talks held in Doha, even as global oil prices continued to slide amid hopes of easing tensions.

Deputy Foreign Minister Kazem Gharibabadi said the Iranian delegation raised the issue of the US violating Article 1 of the MoU, which commits both sides to ending war on all fronts. The meetings were mediated by Qatar and Pakistan.

In a separate discussion with Qatari officials and the central bank, the two sides discussed the release of approximately $6 billion in frozen Iranian funds. Iran maintained that it should have the right to use the money for purchasing goods based on its declared needs.

Iran’s Parliament Speaker Mohammad Bagher Ghalibaf also rejected reports that the International Atomic Energy Agency (IAEA) had been granted access to bombed nuclear sites at Fordow, Natanz, and Isfahan, calling such claims false.

Qatar’s foreign ministry spokesperson said the talks made “positive progress” and discussions would continue after the funeral of former Supreme Leader Ayatollah Ali Khamenei.

Meanwhile, Brent crude futures fell over 1 per cent to around $70.84 per barrel, while US WTI crude dropped to $67.75 per barrel. Analysts said easing geopolitical concerns following the Doha talks were weighing on prices.

The developments come as both sides continue indirect negotiations to stabilise the situation after the recent conflict. Further rounds of talks are expected in the coming weeks.