Iran says it is 'fully prepared' for US 'economic ostracism' campaign, has 2-year response plan

Iran fired back at sweeping new US sanctions, saying it is "fully prepared" for the measures.

Iranian Economy Minister Ali Madanizadeh told state television that "they (the United States) will not be able to cut our economic arteries," according to Reuters and AFP. He added that Iran has a two-year plan in place to counter US sanctions.

The Donald Trump administration launched what it called an "economic ostracism" campaign against Iran on Monday.

The campaign aims to bring allies and countries worldwide on board with US sanctions against Iran to collapse the Iranian economy. The move marks a pivot toward economic pressure as the war with Iran approaches the six-month mark with no clear exit in sight.