Iran has urged countries to resist US sanctions, signaling that access through the Strait of Hormuz and potential diplomatic engagement depend on Washington easing economic pressure. Foreign Minister Abbas Araghchi stated that renewed negotiations require the US to acknowledge that "pressure doesn't work."

Diplomatic Conditions

Tehran’s Foreign Ministry called on all countries not to implement US sanctions against Iran on Friday, warning that cooperation with Washington amounts to complicity in its "illegal will," according to a letter published via Telegram and reported by CNBC.

Araghchi emphasized that putting diplomacy back on track is possible if the US builds trust, respects Iran’s rights, and honors its commitments. This appeal follows intensified economic pressure from the Trump administration, which has threatened countries and businesses maintaining commercial ties with Tehran.

Strait of Hormuz Access

Iran currently allows a "temporary and limited" corridor for ships through the strategically vital waterway. Officials state that a broader reopening hinges on understandings with the US regarding wider regional conflicts.

Mohsen Rezaei, secretary of Iran’s Supreme National Security Council, told Al Manar TV that any agreement over the Strait must address conflicts in Gaza, Lebanon, and Syria. He specified that Israel must withdraw from Lebanon, halt attacks on Syria, and end the Gaza conflict.

Market Impact

Despite US claims that international shipping lanes remain open, vessel traffic is significantly below prewar levels. Data from Kpler showed that five vessels crossed the Strait of Hormuz on August 25, a 28.6% decline day-on-day from seven crossings. All five vessels used the Iranian unilateral corridor.

President Donald Trump rejected immediate diplomacy, telling reporters, "We don’t want to speak to them. We’re not looking to meet or anything." The administration continues to focus on financial isolation of Iran, keeping energy markets on alert amid subdued traffic.

US Treasury Secretary Scott Bessent on Thursday accused the Iranian government of funneling billions of dollars to terrorist proxies abroad while its citizens struggle with basic necessities. The remarks underscored Washington's escalating economic pressure campaign against Tehran.

Economic Pressure Intensifies

Bessent stated that the regime should spend funds for its people instead of supporting proxies, labeling the government corrupt. This accusation coincides with severe currency depreciation. The Iranian rial fell to a record low this month, requiring roughly 1.37 million rials to buy a single dollar.

The Treasury Secretary declared "economic D-Day" on Iran last week, describing it as the single greatest financial offensive ever marshaled against an adversary. The goal is to sever every economic lifeline sustaining the regime. President Trump previously threatened the most crushing economic operation ever taken against any country, warning nations maintaining financial ties to Tehran would face severe consequences.

Sanctions and Export Decline

The US Treasury sanctioned nearly 60 entities, individuals, and vessels tied to Iran's nuclear, missile, cyber, and oil networks under a campaign dubbed "economic outcast." These measures correlate with a sharp decline in Iranian oil exports.

Data from Kpler shows oil loadings dropped from 1.85 million barrels a day in March and April to just 248,000 barrels a day in August. This represents a significant contraction in export volume over five months.

Geopolitical Tensions Persist

Iran's Foreign Ministry spokesperson Esmaeil Baqaei accused the US of annihilating international law and called the campaign systemic bullying. Despite the pressure, diplomatic channels remain partially active regarding regional stability.

Iran and Oman discussed a framework for a temporary navigational corridor through the Strait of Hormuz. Both nations agreed to work on clearing mines from the waterway. Trump stated on Tuesday that all mines in the strait's international waters had already been removed or detonated.

Trump told Al Jazeera earlier this week that he has no time schedule for Iran to return to talks, asserting that the US is winning very big as the conflict drags on.