Tehran, Aug 22: Iran on Saturday condemned the new economic sanctions by the United States and said that the result would be the “complete erosion of sovereignty as the foundational basis of the UN-based inter-State system”.

The remarks came after US President Donald Trump announced on Wednesday “the most crushing economic operation ever taken” against any country providing a lifeline to Iran.

Iranian Foreign Ministry Spokesperson Esmaeil Baqaei, taking to X, said, “The United States’ declaration of new economic sanctions on Iran is far more than continued unlawful ‘economic warfare’ against a single country. It is an assertion of extraterritorial sovereignty over every independent Member State of the United Nations.”

He further argued that no country can legally compel foreign banks, companies or airports, subject to the “exclusive jurisdiction” of their respective countries, to “abandon lawful commercial relations” with another country.

“Such secondary sanctions find no foundation in international law. They violate the principle of sovereign equality enshrined in Article 2(1) of the UN Charter and breach the customary prohibition on intervention affirmed by the International Court of Justice in the Nicaragua case. Economic coercion designed to force a sovereign State to alter its lawful policy choices constitutes an outright internationally wrongful act,” Baqaei said.

He warned that, when these measures are combined with a naval blockade that amounts to “military aggression”, the US’ demands reduce the sovereignty of other countries to “something provisional, conditional, and susceptible” to being revoked by another power.

“Compliance purchases no immunity or respect; it merely concedes that one’s banks, enterprises, and airports operate only under a foreign licence,” Baqaei added.

He stressed that the final result of this policy would be the erosion of sovereignty as the fundamental basis of the UN Charter.

“The end result would be the complete erosion of sovereignty as the foundational basis of the UN-based inter-State system, and a recipe for an abysmal return to full-scale classic colonialism,” he added.

Indian equity markets ended on a mixed note on Friday, with the benchmark indices largely flat as global equities retreated following a rebound in bond yields, while rising crude oil prices amid simmering tensions between the US and Iran kept investors cautious.

The Sensex gained just 3.11 points to settle at 77,540.83, while the Nifty edged up 20.15 points, or 0.08 per cent, to close at 24,252.00.

Commenting on Nifty technical outlook, experts said that the 24,000–24,200 zone remains the key support base, reinforced by heavy Put open interest at the 24,000 strike.

“On the upside, this week’s high of 24,360 falls within the broader 24,300–24,400 resistance zone, making this the immediate hurdle for the index,” an analyst stated.

“A sustained move above 24,360–24,400 could trigger a quick advance towards 24,500–24,600,” a market expert mentioned.

Despite the marginal gains in the day’s session, both the Sensex and Nifty declined for the second consecutive week, reflecting continued concerns over global market conditions and geopolitical risks.

Among the major Nifty losers, Trent, Maruti Suzuki India and InterGlobe Aviation came under pressure and ended among the top-performing stocks on the downside.

The broader market, however, showed some resilience. The Nifty MidCap index rose 0.1 per cent, while the Nifty SmallCap index gained 0.69 per cent.

Sectorally, the Nifty FMCG, Nifty Auto and Nifty IT indices underperformed the broader market. In contrast, the Nifty Metal and Nifty Private Bank indices emerged as the key outperformers during the session.

Experts said that market sentiment remained cautious as investors continued to track movements in global bond yields, crude oil prices and developments surrounding tensions between the US and Iran.

“The elevated global bond yields continue to cause worry in the market. The recent US Treasury’s move to ease the bond yields failed to provide lasting comfort, given surging crude prices and persistent inflation fears,” the analyst stated.

The Baloch National Movement (BNM) organised a protest demonstration and rally in the Netherlands condemning the recent airstrikes by the Pakistan air force in Balochistan’s Surab district that reportedly killed more than 30 civilians, including women and children.
Addressing the rally, the BNM activists described the Surab attack as a severe “humanitarian tragedy” and criticised the international community’s silence over what they described as the growing threats to civilian lives across Balochistan. They stressed that human rights conditions in the province have been deteriorating rapidly.

Expressing deep concern over civilian casualties, including women and children, the demonstrators urged international bodies to take immediate notice of the bombardment in Surab and bring those responsible to justice.

The incident took place in the early hours of August 12 when the Pakistani air force reportedly carried out indiscriminate bombardment in residential areas in the Gidar area of Surab, killing civilians and causing significant damage to properties.

“Participants appealed to the United Nations, the European Union, and global human rights organizations to conduct an independent and transparent investigation into the Surab incident to establish the facts. They also called on Dutch civil society, political leaders, and European nations to pay attention to ongoing rights violations in Balochistan and advocate for the affected families,” the BNM stated.

The BNM activists reaffirmed their resolve to continue raising awareness across the Netherlands and other European nations, while calling for civilian protection and the restoration of human rights in Balochistan.

Earlier this week, the President of the Baloch American Congress, Tara Chand, wrote to US President Donald Trump seeking urgent intervention over Pakistani military airstrikes in Surab.

In his letter addressed to Trump, Chand wrote, “We respectfully urge your administration to investigate these serious allegations and determine whether any US-origin aircraft, weapons, drones, technology, components, or other military equipment were used in the reported operation.”

On behalf of the Baloch community, he also urged the American administration to investigate the reported airstrikes and civilian casualties in Surab, determine whether US-origin military equipment or technology was involved, and conduct appropriate end-use and compliance reviews of relevant US defence equipment supplied to Pakistan.

Chand further called on the American authorities to support an independent investigation and accountability for any violations of US law, arms-transfer conditions, or international humanitarian law as well as review relevant US military assistance or transfers if credible evidence establishes that such equipment was misused against Baloch civilians.

“Mr. President, a Baloch child’s life is as precious as the life of any child anywhere in the world. We are not asking the United States to prejudge the evidence—we are asking your Administration to establish the truth, protect civilians, and ensure accountability. We would welcome the opportunity to provide available documentation and meet with appropriate US officials regarding this urgent matter,” the letter mentioned.