Iran was prepared for the United State’s tougher sanctions and had drawn up a plan to address potential problems in advance, Iranian Economy Minister Seyed Ali Madanizadeh said.
"The country's government had planned in advance how to counter U.S. sanctions and is fully prepared for new restrictions," Madanizadeh said.
"The cabinet has a two-year economic development plan that takes all relevant issues into account," the minister explained, noting that Washington will not be able to achieve its goals by cutting off the lifeblood of the Iranian economy.
He admitted however that "the war has impacted the country’s industry, in particular, the work of metallurgical plants."
Earlier, U.S. President Donald Trump announced the launch of "economic warfare and isolation on an unprecedented scale" against Iran. The U.S. leader also warned that countries whose financial institutions, businesses, airports, or government agencies support Tehran will face serious economic consequences from Washington.
