President Donald Trump's declaration of an economic war against Iran has escalated into a high-stakes standoff, with Washington set to unveil the details of its "unprecedented economic isolation" measures on the 24th. Treasury Secretary Bessent confirmed the timeline, while Tehran has already countered with a stark warning: if the economic war proceeds, oil exports through the Strait of Hormuz and the broader Persian Gulf region will cease entirely. With less than 24 hours remaining before Washington reveals the specifics of its sanctions package, observers widely view this as a reluctant pivot by the US, given the prolonged conflict and stalled negotiations between the two nations. Even before the official announcement, analysts are predicting that this aggressive move could ultimately result in a scenario where all parties lose.

On the 19th, Trump first disclosed his plan, stating that since Iran had missed the window for reaching an agreement with the US, he would impose "the most devastating economic actions ever taken against a country" — an "unprecedented economic war and isolation campaign." He further threatened that any nation allowing its financial institutions, corporations, airports, or government entities to provide support to Iran would face severe economic consequences. He also called on all US allies to join in isolating Iran, turning what he calls "isolation" into a demand for allies to pick a side.

The following day, Treasury Secretary Bessent elaborated on the initiative and scheduled a press conference for the 24th to unveil the full plan. Bessent characterized the operation as the "largest and most coordinated economic isolation effort in history," explicitly stating that the goal is to "overthrow the current Iranian regime." He issued a stark ultimatum: nations are either with the US or against it. According to signals from Bessent, the US will deploy all enforcement tools, including secondary sanctions on countries and companies that continue doing business with Iran. The primary targets are three categories of economic activity: purchasing Iranian oil, transferring funds to Iran, and ship-to-ship transfers of Iranian crude at sea. Notably, Bessent added a caveat that no "large-scale" military action is expected to be necessary.

In response to Washington's economic war declaration, Iranian officials have issued dense and forceful statements. Rear Admiral Ali Rezaei, Secretary of Iran's Supreme National Security Council, explicitly stated on the 23rd that Tehran will respond to continued American economic warfare with a "zero oil export" policy for the Persian Gulf. According to Rezaei, if the economic war continues, no oil will be exported through the Strait of Hormuz or the Persian Gulf region. Furthermore, Iran will treat any nation's participation in or support of the US-led economic war against the Iranian people as an act of war.

On the same day, Islamic Revolutionary Guard Corps (IRGC) spokesman Brigadier General Ramezan Sharif said Iran has prepared response plans for all US hostile actions, including economic pressure. Sharif even boasted that Iran will continue economic exchanges with other countries "right under America's nose," circumventing US restrictions. He claimed Iran has "no worries" in the economic sphere and that the effectiveness of these measures will become apparent soon. Sharif also referenced the 47-year history of US economic sanctions against Iran, emphasizing that the current "economic war" rhetoric is aimed at psychological pressure on the Iranian people.

Iranian Foreign Minister Abbas Araghchi, in his remarks on the 23rd, declared that Iran has never feared US sanctions, noting that all American actions — whether blockades or military operations — have failed, and this new tactic will inevitably fail as well. Araghchi dismissed Trump's economic campaign as "a repetitive movie we've seen countless times," adding that "we know how to deal with it."

According to observations from reporters on the ground in Iran, the prevailing view is that America's decision to announce economic pressure measures, coupled with Bessent's claim that "no large-scale military operation is needed," reveals that the US has been forced to change course after failing to achieve its goals through military options, now attempting to pursue its objectives under different conditions. However, analysts also point out that while sanctions are nothing new to Iran, with the shadow of war not fully lifted, balancing economic stability with maintaining strategic deterrence remains a critical challenge for Tehran.

Li Zixin, an assistant researcher at the China Institute of International Studies, believes that America's economic war against Iran will certainly increase inflationary and food supply pressures on the country. However, Li also noted that given Iran's long experience in dealing with US sanctions and its relatively rich countermeasures, American economic pressure may not necessarily force political concessions from Tehran. Instead, the situation could easily slide into a "multi-loss" predicament where all parties suffer. Li's analysis points out that due to the ongoing US maritime blockade, Iran has already seen soaring inflation and food prices, the rial has plummeted to historic lows, and oil exports have contracted significantly. With additional sanctions on the horizon, Iran's economy will continue to suffer negative impacts. Yet Li also cited Iran's history of enduring sanctions, emphasizing that while economic pain is inevitable, this impact may not translate into political submission.

Li further stressed that the backlash of sanctions on the US itself cannot be ignored. According to Li, the average price of regular gasoline across America is roughly 50% higher than before the conflict, and imported inflation pressures are mounting daily, with bills directly affecting every ordinary American household. Additionally, given Iran's unique geographic position and its outsized influence over the Strait of Hormuz — which handles approximately one-fifth of global oil and gas shipments — combined with the current global energy crisis transmitting into a food crisis, any disruption to maritime transport could further drive up global food prices. The sustained confrontation between Washington and Tehran will also continue to weigh on major oil-producing economies. In Li's view, the harsher America's sanctions, the more hardliners will gain the upper hand inside Iran, further narrowing diplomatic space, creating a vicious cycle of "sanctions, countermeasures, and re-sanctions" — ultimately, no one emerges as a winner.