Trump threatens ‘tremendous economic consequences’ on any country helping Iran
6 minutes ago
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President Donald Trump has announced the US will inflict “TREMENDOUS Economic Consequences” on any country that helps or does business with Iran
He wrote in all capital letters on Truth Social he was launching “the most crushing economic operation ever taken against any country!” He gave no further details, and did not name any other nation
It comes after a 60-day ceasefire with Iran expired on Monday, with no sign of a diplomatic or military off-ramp to the conflict that the US and Israel began at the end of February
Trump’s latest move appears to extend the pressure campaign of Operation Economic Fury, launched in April to sanction foreign banks or firms that do business with Tehran
In Wednesday evening’s social media post, Trump said he was launching “economic D-Day” on Iran because the Islamic Republic had failed to make a deal with the US
“ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences,” Trump said
He did not specify what punishment countries would face
Trump continued: “Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies – It all needs to stop NOW. You know who you are.”
It comes a day after United Arab Emirates, a US ally, announced it would be severing all financial and economic ties with Iran, following a new missile threat from the country
The UAE’s defence ministry said it had detected two ballistic missiles launched from Iran targeting maritime traffic, both of which landed in the sea
Iranian entities have long used Dubai’s financial system to transfer money through exchange houses and shell companies
Following the UAE’s decision, Iran’s armed forces warned neighbouring Gulf countries against providing support to the US military, saying any assistance given to US forces would be considered collusion
The president’s comments come nearly a week after Treasury Secretary Scott Bessent said the US would impose economic isolation on Iran “like the world has never seen before”
The BBC has asked the White House and US treasury department for comment
Earlier this week, Trump also reportedly threatened to bomb Oman – a US ally – if it “gets in the way” of his administration’s own talks with Iran, during a phone interview with a Fox News reporter
The US and Oman have been negotiating separately with Tehran to reopen the Strait of Hormuz, a waterway that is vital to the global economy. It has been largely closed for nearly six months during the US-Iran war
The ongoing conflict continues to significantly disrupt traffic through the key Strait of Hormuz shipping route, which has pushed up global energy prices
Around 20% of the world’s crude oil and liquified natural gas (LNG) usually passes through the waterway
Ahead of the US midterm elections in November, Trump also faces pressure over how much the war is costing consumers and its impact on the country’s military personnel
As the US pauses the war with Iran, is Trump really running out of weapons?
Trump’s dramatic plane swap hints at personal stakes of Iran war
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