Economic pressure a 'delicate dance' against Iran, most effective tool: JD Vance

US Vice President JD Vance has described economic pressure as Washingtons most effective tool against Iran while acknowledging that using sanctions and other economic measures carries risks for the US as wellSpeaking on the Clay Travis and Buck Sexton Show Vance said Washington could use economic pressure to influence Tehrans decisions but called the approach a delicate dance because Iran could respond with measures affecting the US economyThe most effective tool that we have is the economic pressure we can apply to them And this is a delicate dance because we apply economic pressure to them theyre going to try to apply economic pressure to us Vance said according to CNNWhat has been true over the last couple of weeks is they have felt a lot more pressure than we have he addedUS faces higher oil prices amid Strait of Hormuz tensionsVance acknowledged that oil prices had risen but said the administration was working to maintain energy supplies through the Strait of Hormuz a key route for global oil and gas shipmentsObviously oil prices are elevated which people see at the pump he said as reported by CNNThey are trying to close the Strait down and if we can you know not even get it back to where it was before but if we can get enough oil and gas out to give some Americans some ease at the pump some ease on energy prices Vance addedVance also said economic pressure linked to attacks on commercial vessels could affect Irans calculations over any potential agreement with WashingtonMeanwhile the Iranians are punished for shooting at commercial ships That just applies a lot of economic pressure to them and that changes their calculus for you know what kind of a deal they want to make Vance saidWashington says Iran must not rebuild nuclear capabilitiesVance said the broader objective of US policy was to prevent Iran from rebuilding its nuclear capabilitiesWhat we are trying to do is create a changed reality on the ground where not just we can say with confidence their facilities have been destroyed we can also say with confidence theyre never going to try to rebuild and thats the phase that were in now he said according to CNNHis comments came amid heightened tensions between Washington and Tehran following the US announcement of new sanctions targeting IranIran condemns US sanctions as economic terrorismIrans Foreign Ministry has condemned the latest US economic and trade sanctions describing them as economic terrorism and crimes against humanityIn a statement issued on Thursday the ministry said the sanctions were another indication of the continuation of 73 years of hostility and animosity by US policymakers toward the Iranian peopleThe US economic sanctions against Iran which target the fundamental human rights of every Iranian citizen constitute economic terrorism and crimes against humanity the statement saidIran accused Washington of pursuing a policy that had already failed and said the latest measures would not affect its determination to protect its independence and national sovereigntyEconomic sanctions and pressure are the other side of the same coin as war and military aggression the Iranian Foreign Ministry saidThe ministry also said the US government and those responsible for the policy would bear responsibility for the consequences of the sanctionsThe Islamic Republic of Iran remains steadfast and determined in defending its security and national interests and confronting the US military economic political and psychological pressures and attacks it addedTrump announces sweeping economic measuresThe Iranian statement followed US President Donald Trumps announcement of what he described as the most crushing economic operation ever taken against IranTrump warned countries providing financial business or government support to Tehran that they could face tremendous economic consequencesNo one has given the Islamic Republic of Iran a greater opportunity to make a Deal than me TRAGICALLY for them they have failed to take it Trump said in a post on Truth SocialTherefore today I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY This will be Economic Warfare and Isolation on an unprecedented scale he addedTrump said the measures would target what he described as Irans economic lifelines including oil smuggling networks financial transfers exchange houses ship registries and front companiesOil smuggling swap lines cash transfers exchange houses ship registries front companies It all needs to stop NOW Trump saidHe also warned that countries allowing their financial institutions businesses airports or government entities to support Iran would face tremendous economic consequencesStrait of Hormuz remains at centre of tensionsThe latest developments have unfolded amid continuing tensions over the Strait of Hormuz one of the worlds most important energy transit routesTrump had earlier claimed that the waterway remained open and that the US naval blockade had been effectiveRight now the Strait is open A lot of boats are coming through Trump said adding that the naval blockade has been extremely effective and 100 per cent successfulTrump also reiterated his position that Iran would not be allowed to acquire nuclear weaponsIRAN WILL NEVER HAVE A NUCLEAR WEAPONIran rejects US pressure criticises Economic DDayIranian Foreign Minister Seyed Abbas Araghchi criticised Trumps announcement of an Economic DDay arguing that it diverted attention from economic problems in the USThe socalled Economic DDay is a diversion from Americas own crisis unprecedented debt and surging interest costs Araghchi said in a post on XDoubling down on failed policies will only bring further defeat and enmity of Iranians US economic terrorism threatens global economy and sovereignty worldwide he addedIranian Parliament Speaker Mohammad Bagher Ghalibaf had earlier said Tehran would not reopen the Strait of Hormuz until the United States fulfilled commitments under a 14point Memorandum of UnderstandingWith inputs from ANI