Iran says it is 'fully prepared' to counter widened US economic sanctions

BREAKING: Iran says it is 'fully prepared' to counter widened US sanctions, dismissing what Washington has called an 'economic D-Day' against Tehran.

Washington just declared an economic D-Day against Iran, and Tehran shrugged.

Treasury Secretary Scott Bessent calls it the single greatest financial offensive ever launched against the country, and you can hear him say it here. His words, the US will tighten the noose and block every source of revenue. Any bank or business that keeps dealing with Iran shares its isolation. Full stop.

Iran's economy minister, Ali Madanizadeh, went on state television within hours and said the government has a two year plan and knows how to play the game. He's leaning on China and Russia, neither of whom accepted the measures, though the UAE has already cut all trade with Tehran.

And the pressure point is right here, the Strait of Hormuz. A fifth of the world's oil normally moves through it. Iran has effectively blocked it since February, and it's now warning ships not to pass without permission. That's the fact that touches every fuel gauge on the planet.

This is Sara White, reporting for HIT.