Iran predicts 'another defeat' for US after Washington's new sanctions
Iranian Economy Minister Ali Madanizadeh predicted "another defeat" for the United States, saying the Islamic republic had a "two-year plan" to counter Washington's new sanctions.
"They have done everything they could to test the determination of the Iranian people and the country's officials, but they have failed every time. It seems they wished to suffer yet another defeat," Madanizadeh told state television.
"We've been waiting for these plans for a long time, and the government is and was ready and has a two-year plan to manage these events," he added.
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Brent crude and US ten-year-bond yield both dropped quite a bit over night. I think the markets think that Trump's announced "economic D-Day" against Iran actually means he's given up on coercing Iran. People are breathing a sigh of relief (while Trump provides comic relief by suggesting renaming Lake Ontario "Lake America" and generally going bonkers in his dealings with Canada: he hates it when people do unto him as he does unto them).