Iran promises to resist interference by foreign 'enemies' as Trump threatens new sanctions

Iran’s parliament speaker said efforts by "enemies" to drive Iran and Iraq apart will instead deepen their relationship, as Trump threatened "tremendous" costs for those working with the Islamic Republic. Mohammad Bagher Ghalibaf told an Arbaeen ceremony in the city of Karbala on Thursday that history, geography and shared religious beliefs bound the countries together. “We were two nations that refused to become a footnote in others’ narratives and did not allow our destiny to be written in western capitals,” he said. Ghalibaf said Tehran and Baghdad would not let foreign governments decide their futures. He argued that the two countries should build on their security cooperation and “unite to achieve economic prosperity and development”. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters Iran and Iraq should pursue joint projects that improve living standards, strengthen economic independence and curb outside influence across the region, Ghalibaf added, according to Iran’s Tasnim News Agency. His comments come as US President Donald Trump announced he would come down hard on Iran's allies as the war on the country continues without resolution. The US continues to be unable to militarily assert its control over the Strait of Hormuz, with a ceasefire between the two countries all but collapsed. Secretary of the Treasury Scott Bessent said on Thursday that the US would impose "the toughest sanctions in history" on Iran, vowing to ramp up economic pressure on the Islamic Republic even as the economic toll of the war builds. "It is a one-two punch. We have the blockade [on Iran], and we are going to have the toughest sanctions in history," Bessent told CNBC. "It is going to work in Iran, and we are going to collapse this regime,” he said, adding that the sanctions will be explained on Monday. Bessent’s statements come a day after Trump said that he was launching an "economic D-Day" on Iran, and warned that any country helping Tehran would face "TREMENDOUS Economic Consequences". Iran said in response that the new sanctions would target ordinary Iranians and amounted to "economic terrorism" and crimes against humanity. Energy crisis A rise in energy prices has proved a problem for the Trump administration as it tries to tame rising borrowing costs. Brent Oil, the international benchmark, was up two percent on Thursday, trading at $93.41 per barrel. Explainer: Have European countries been involved in the US-Israeli war on Iran? Read More » The war has also upended the global shipping trade, with the cost of chartering a tanker skyrocketing. BWET, an Exchange Traded Fund that allows investors to bet on the shipping rates, has soared 98 percent over the past month. Asked about rising energy prices, Bessent said: ”We have asymmetric information, and I'm not sure why oil has popped up on this." Iran has continued attacking vessels in the Strait of Hormuz, while its partner in Yemen, Ansar Allah (known as the Houthis), has imposed a maritime blockade against Saudi Arabia in the Red Sea. The kingdom, which relies on the waterway to export oil, has been forced to pipe crude to the Mediterranean via Egypt. Bessent on Thursday also urged China to “get with the programme” over proposed sanctions on Iran, saying Beijing would benefit from the reopening of the Strait of Hormuz and lower energy prices. Asked in a CNBC interview whether Washington could target China for doing business with Iran, Bessent said such discussions were best held in private but that the United States was confident everyone wanted the strait reopened and energy prices to fall. “The Chinese get 50 percent [of their] energy from inside the Gulf. So it would do them a big service to get with the programme,” he said.