Tehran: Iranian Foreign Minister Abbas Araghchi stated on Sunday that Washington's 'economic war' is a recurring strategy that Tehran is well-equipped to counter.

According to Anadolu Agency, Araghchi, during a visit to the mausoleum of Ayatollah Ruhollah Khomeini in Tehran, emphasized that the economic measures touted by US President Donald Trump as an 'economic operation' are merely a rehash of Washington's previous tactics against Iran. He highlighted that the US has historically threatened Iran with 'military operations' before reverting to its earlier approaches.

Araghchi criticized the US for its inability to innovate new strategies against Iran, arguing that the repetitive nature of their plans underscores a lack of options. 'They cannot think of any other solution in confronting the great Iranian people, so they repeatedly put forward the same old plans,' he remarked. He further insisted that the only viable path for the US is to engage with Iran respectfully and seek solutions rooted in justice and dignity.

President Trump recently declared his intent to initiate 'the most crushing economic operation ever taken against any country,' describing his pressure campaign on Iran as 'Economic Warfare and Isolation on an unprecedented scale.' Despite these tensions, Iran and the US reached a memorandum of understanding in June, mediated by Pakistan and Qatar, to end hostilities that began in February and to negotiate a final agreement.

However, talks have stalled due to disagreements over the implementation of the memorandum and arrangements for navigation through the Strait of Hormuz, a vital passage for global oil and gas exports.