Tehran [Iran], August 29 (ANI): In an address outlining state economic strategy, Iran's supreme leader Ayatollah Mojtaba Khamenei said boosting domestic production and reducing reliance on the US dollar in key transactions are essential to building a self-reliant 'Resistance Economy'.

Highlighting the duties of a service-oriented administration, the supreme leader, in a post on X, framed economic resilience not merely as a policy choice, but as a mandatory national framework to counter external financial pressure and achieve long-term stability.

'Equally vital is giving special attention to economic growth, boosting production, gradually phasing out the US dollar from playing a pivotal role, and ultimately, making Resistance Economy the central focus,' he said.

https://x.com/MKhamenei_ir/status/2093409566247584251?s=20

The Iranian Supreme Leader stressed that the key to addressing Iran's economic challenges lies in relying on domestic production.

Sharing his detailed message, Iranian state broadcaster Press TV said, 'The key to resolving all these matters in this field lies in relying as much as possible on domestic production.'

He added that where domestic production is insufficient, imports should be used 'properly and wisely'.

Khamenei also urged improving the economic conditions by focusing on areas such as inflation, unemployment, and price management.

He also stressed the need to increase investment and direct it towards useful and necessary areas.

'Among these are the need for serious attention to the chain of economic and livelihood challenges, such as inflation, unemployment, management of prices and the market for goods and services, as well as particular attention to certain other elements of the economy, such as growth, increased investment and directing it toward useful and necessary areas, boosting production, gradually phasing out the dollar from its important role, and ultimately placing the entire set of resistance-economy policies at the centre,' Press TV said.

In a veiled reference to its adversary nations, the Iranian Supreme Leader linked the push for greater economic self-reliance to what he described as pressure from the United States and Israel, saying Iran's enemies seek to portray submission to their demands as the route to economic progress.

'This nation's sworn enemy seeks to insinuate that the path to progress passes through submission to their unreasonable demands; whereas observing what they inflicted upon this country & its resources in the past, even before the Islamic Revolution, demonstrates the exact opposite,' he said.

His remarks come in the wake of Operation Economic Outcast announced by Washington, which aims to tighten the noose around the Iranian economy.

Shortly before his message was released, the US State Department said that Operation Economic Outcast continues in full force.

It said that the United States imposed sanctions on the manager of the Dubai branch of Iran's Bank Melli, Reza Mohammad Taeedi and a Hong Kong-based company which it claimed helped designated Iranian individuals and entities to access the international financial system.

'Bank Melli has served as a critical financial hub for Iran's armed forces, including the Islamic Revolutionary Guard Corps-Qods Force and the Ministry of Defense and Armed Forces Logistics, both U.S.-sanctioned entities. We are also sanctioning a Hong Kong-based company that has helped designated Iranian individuals and entities to access the international financial system. In addition, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) proposed a rule that would revoke Banque Misr UAE's correspondent banking access to U.S. financial institutions. Treasury assesses that Banque Misr UAE is a critical node for the Iranian regime's access to U.S. dollars,' the release by the State Department said.

Spokesperson Tommy Pigott underlined that the action comes as Washington intensifies its pressure campaign against Iran.

'As the regime prioritises its malign activities above the needs of its people, we will sever the economic lifelines sustaining it. We will target individuals and entities that engage in illicit financial practices on behalf of the Iranian regime, including those working for Iranian banks outside the country,' he said.

On August 24, US Treasury Secretary Scott Bessent announced the launch of 'Operation Economic Outcast', saying the campaign aims to sever Iran's financial connections around the world and cut off revenue sources supporting the Iranian regime. (ANI)