Iran emphasises self-sufficiency in battle against US economic war - Al Jazeera

**Iran Calls for Economic Self‑Sufficiency as U.S. Sanctions Intensify**

Tehran’s leadership has reiterated that “self‑sufficiency” is the cornerstone of Iran’s response to what it describes as an escalating U.S. “economic war.” President Ebrahim Raisi told the parliament that the latest round of American sanctions—aimed at further isolating Iran’s oil and financial sectors—will “achieve nothing” because the country is already restructuring its economy to rely less on foreign dollars and more on domestic production. The statement comes as the official exchange rate of the Iranian rial continues its steep decline, with one U.S. dollar now fetching roughly **2 million rials**, a level that severely restricts purchasing power for ordinary Iranians and drives the government to promote local manufacturing, agricultural output, and barter trade arrangements.

The sanctions wave broadened on Tuesday when the U.S. Treasury imposed penalties on **four India‑based firms and three Indian nationals** for allegedly facilitating illicit transactions that benefit Iran’s nuclear and missile programs. The measures freeze any U.S. assets held by the targeted entities and ban American companies from doing business with them. Iranian officials condemned the action as “politically motivated” and warned that it would push Tehran to deepen economic ties with non‑Western partners, especially in Asia, to circumvent the restrictions. Analysts note that the sanctions could disrupt a modest flow of Indian oil and petrochemical imports that have become increasingly important for Iran’s war‑time economy.

In parallel, Beijing issued a statement pledging to “protect its legitimate interests” in the face of the new U.S. sanctions on Iran. Chinese diplomats emphasized the importance of stable energy supplies and warned that punitive measures could destabilize regional markets. The declaration signals a potential sharpening of Sino‑Iran cooperation, ranging from joint infrastructure projects to expanded use of the yuan and other non‑dollar currencies for trade settlements. Observers see this as part of a broader shift whereby Iran leans on Chinese investment and technology to offset the impact of Western pressure, while China seeks to secure its own energy security and geopolitical foothold in the Middle East.