Pakistan, July 23 -- US Secretary of State Marco Rubio warned Iran would face severe consequences unless it agreed to a new deal. He said Tehran was already experiencing major military and economic setbacks. The remarks could influence ongoing regional diplomacy and future negotiations.

Rubio spoke on the sidelines of the ASEAN conference in Manila. According to his statement, Iran would continue to "pay a very heavy price" if it refused to reach an agreement. He described the current pressure as both military and economic.

Read more: US would 'love' to reach diplomatic deal with Iran: Rubio

Moreover, Rubio claimed Iran's defence industrial base had been significantly weakened. He alleged the country was losing radar systems and missil...