Day 183 | Tehran pledges defense, diplomacy as US blockade persists
The Iranian government reaffirmed its stance on standing firm against "unjust" US economic sanctions, declaring that it will deploy both its defense forces and diplomatic avenues to protect national sovereignty amidst heightened regional escalation.
In a formal statement carried by state media, the naval arm of the Islamic Revolutionary Guard Corps (IRGC) directly rejected assertions from Washington regarding the operational state of the Strait of Hormuz.
In response, White House officials reiterated to Al Jazeera that the US naval blockade targeting Iranian ports remains fully active and enforced.
US officials maintained that international shipping lanes through the strait have been cleared of mines and opened for general maritime transit.
Ghalibaf hits back at US Treasury Secretary’s claims about crushing Iran’s economy
Iranian Parliament Speaker Mohammad Bagher Ghalibaf on Saturday rejected claims by US Treasury Secretary Scott Bessent that American economic measures are crushing Iran’s economy, calling them false in a pointed social media response.
Bessent had posted that the US naval blockade combined with “Operation Economic Outcast” would “crush the failing Iranian economy,” adding that the United States had “guided 130 million barrels out over the past 14 days” while Iran exported none.
Ghalibaf quoted the post and replied: “Liar liar pants on fire.”
Liar liar pants on fire.
— محمدباقر قالیباف | MB Ghalibaf (@mb_ghalibaf) August 29, 2026
For real 130s, tell your staffer to pull Moody's showing $130+ billion in war costs, and ask another how much Jane Street burned north of $130 million shorting oil for you in just one futures roll.
Liar liar yields on fire. https://t.co/j1Ej9K7hPL pic.twitter.com/BPykaanAOM
He told Bessent’s staff to consult Moody’s data showing more than $130 billion in US war costs and referenced alleged losses of over $130 million by trading firm Jane Street from shorting oil in a single futures roll, adding “Liar liar yields on fire.”
He also shared a screenshot of economist Paul Krugman’s criticism of Bessent’s market management.
Operation Economic Outcast, announced by Bessent on August 24 at President Donald Trump’s direction, seeks to isolate Iran by mapping and blocking oil-smuggling networks and applying secondary sanctions across digital assets, technology, gold, aviation, and shipping.
It includes sanctions on dozens of entities, individuals, and vessels and follows a naval blockade.
Moody’s Analytics has estimated the broader costs of the war to US taxpayers and consumers at around $132 billion as of mid-2026, factoring in military spending, higher energy prices, and related economic effects.
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Read more: Day 182 | US to ramp up economic war against Iran
