Iran Foreign Ministry spokesman BAGHAEI said Tehran will use all bilateral capacities to counter US economic sanctions, calling Washington’s approach a repeated, failed policy. He said the sanctions’ burdens fall on ordinary people and accused the US of using sanctions and threats to coerce other countries into limiting trade, violating free-trade and sovereignty principles. BAGHAEI added US overreach and illegal actions have prompted protests even from close US allies.

Iran deputy foreign minister Gharibabadi on the 24th wrote on social media addressing U.S. Treasury Secretary Bessent, saying Bessent's remarks are contradictory. He noted that if the U.S. has already claimed to have dismantled Iran's military capability, destroyed nearly all military factories and “buried” Iran's nuclear program, why is a so‑called “largest‑ever financial offensive” against Iran necessary? He added: “Is this a victory, or an admission of U.S. failure?”

Some Hong Kong-licensed banks, including HSBC Hong Kong and Hong Kong branches of mainland Chinese banks, have begun requiring source-of-funds declarations from a subset of existing mainland China investor accounts—primarily long-dormant accounts—setting Aug. 20 (non-submission may lead to suspension of investment services) and Sept. 12 (non-submission may lead to termination of services) as deadlines. The checks extend prior SFC and HKMA guidance that new mainland retail accounts confirm funds originate from legitimate offshore channels.