Iran’s President Masoud Pezeshkian on Tuesday said Iran will respond immediately if the U.S. adheres to its obligations under a temporary agreement signed in June.
Pezeshkian made this statement at the Shanghai Cooperation Organisation Summit in Bishkek on Tuesday. This follows the first direct exchange of attacks between the U.S. and Iran since late July, with the U.S. targeting Larak Island and Iran subsequently launching attacks on two U.S. air bases in Jordan.
The President said, “I am stating clearly that if the U.S. returns to its commitments under the Memorandum of Understanding, the Islamic Republic of Iran will immediately reciprocate,” Reuters reported, citing Iranian state media.
Tehran says it will allow free navigation through the Strait of Hormuz only if Washington fulfills the agreement’s terms. Pezeshkian reiterated that war serves no one’s interests and that Tehran remains open to a negotiated solution with Washington.
US Tightens Economic Grip on Iran
The statement from Pezeshkian comes in the wake of Iran’s admission that U.S. sanctions are causing significant economic distress.
Treasury Secretary Scott Bessent warned that Iran’s economy could collapse “within weeks or months” due to intensified U.S. sanctions. The U.S. aims to force Tehran to change course rather than trigger an economic implosion. Bessent’s comments expand on Treasury’s “Operation Economic Outcast,” launched August 24 to disrupt Iran’s financial, oil, shipping and trade networks. He said the U.S. expects to impose new secondary sanctions about weekly, starting with banks.
Meanwhile, President Donald Trump ruled out the use of nuclear weapons against Iran, while warning of a forceful response to Tehran’s retaliatory strikes against American forces in Jordan. Trump said Iran had already suffered a decisive military defeat, asserting that the country was “totally defeated militarily.”
At the time of writing, Brent crude oil futures expiring in October were trading 4.64% higher at $92.47 per barrel, while WTI crude futures expiring in October were trading 2.88% higher at $88.24 per barrel.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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