Iran president says new US sanctions will achieve nothing

Kuwaiti Prime Minister Sheikh Ahmad al-Abdullah al-Sabah (2R) inspecting the damaged airport after an Iranian attack, in Kuwait City. [AFP]

Iranian President Masoud Pezeshkian on Wednesday said that the United States would achieve nothing with its new round of economic sanctions, local media reported.

"With the measures that the government's economic sectors have foreseen, America will not achieve anything with economic pressure at this stage, just as it was unable to achieve anything in the war," Pezeshkian said, according to ISNA news agency.

US Treasury Secretary Scott Bessent on Monday laid out plans for the "economic asphyxiation" of Iran, warning of dire consequences for countries that do not join the campaign.

Iran's leaders, however, have dismissed the impact of the new measures, having already endured decades-long crippling sanctions since shortly after the 1979 revolution.

"Our principle is understanding and resolving issues through interaction and negotiation, but at the same time, we will stand firm against economic pressures, as we have done so far and will continue to do," Pezeshkian added.

Negotiations between Iran and the United States have stalled as the two foes wrangle over control of the strategic Strait of Hormuz.

Traffic through the vital waterway -- which normally carries around a fifth of the world's oil and liquefied natural gas exports -- remains largely paralysed, disrupting global energy markets.

Iran has exerted control over the Hormuz strait since the outbreak of the war on February 28, and has sought to impose fees on vessels transiting the strait.

The United States wants the strait to return to its pre-war system of free navigation, and US President Donald Trump has claimed that Washington "has total control" over the waterway.

But on Wednesday Iran's Revolutionary Guards countered, saying that Hormuz "is under our control, and... No vessel is able to pass through this waterway without Iran's permission".

"If America does not accept our conditions, the Strait of Hormuz will not be opened under any circumstances."