Iranian Economy Minister: "Two-Year Economic Plan Formulated to Counter U.S. Sanctions... Fully Prepared"

Iranian Minister of Economic Affairs and Finance Seyed Ali Madanizadeh stated on the 24th (local time) that in response to U.S. sanctions against Iran, "The government has established a two-year economic plan, and all matters are included in this plan."

In an interview with state television that day, he strongly criticized the United States for attempting to deny the very existence of the Islamic Republic of Iran through military action, emphasizing that "the government has long prepared plans to counter U.S. sanctions and is fully prepared for the new sanctions."

While acknowledging that the steel and petrochemical industries in Iran suffered heavy blows due to the war, Minister Madanizadeh explained that the government has made all-out efforts to make up for economic losses, such as restarting damaged facilities and initiating reconstruction projects within a short period.

He defined the maritime blockade as "economic sanctions no different from a military war," expressing confidence by stating that global financial flows are not large enough to cut off Iran's economic lifeline.

Regarding the inflation issue, citing an announcement by the central bank governor, he said, "The monthly inflation rate has dropped to half the level compared to last month, and the same trend is being seen this month."

He added that the easing of inflation does not mean a drop in prices, but rather a moderation of the rate of increase, and that it is being controlled through monetary, foreign exchange, and banking policies.

He also noted that half of government revenues are covered by taxes, and that even under wartime conditions, more than 90% of tax payment obligations were fulfilled last year.

Highlighting achievements in maintaining employment, he stated that a working capital support program worth about 80 trillion tomans (approximately 1.7 trillion KRW) was implemented, preventing about 600,000 people from becoming unemployed.

Finally, Minister Madanizadeh emphasized that "the government makes supporting households and improving the living standards of citizens its top priority, and plans to expand support for all sectors of society starting in the second half of the year."

Earlier, U.S. Treasury Secretary Scott Bessent held a press conference and announced, "Today, we are launching 'Operation Economic Outcast' to block all options available to the Iranian regime."

Specifically, secondary sanctions were decided to be imposed on other countries trading with Iran related to digital assets, technology, gold, aviation, and shipping. In addition, about 60 entities, individuals, and vessels worldwide that help the Iranian regime acquire nuclear and missile technology, conduct cyber operations, and generate oil revenues were designated as new sanction targets.

(Photo: Capture from IRNA News Telegram, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.