US President Donald Trump on Thursday threatened to impose “severe” economic consequences on “any country” that helps Iran or conducts trade with it, in a move reflecting an escalation of Washington’s economic pressure on the Islamic Republic after months of war.
Trump wrote on his Truth Social platform: “I am announcing today that any country that allows its financial institutions, companies, airports, or government agencies to provide any form of lifeline to Iran will face severe economic consequences.”
In his lengthy post, Trump said Tehran “did not know how to seize the great opportunity” to reach an agreement. He wrote: “Therefore, I am announcing the most crushing economic operation ever taken against any country!”, referring to an “unprecedented economic war.”
Addressing countries suspected of helping Iran without naming them, Trump added: “Oil smuggling, currency exchanges, cash transfers, exchange offices, vessel registries, shell companies… all of this must stop now.”
The US president did not provide details about the measures or sanctions he would impose.
Last week, US Treasury Secretary Scott Bessent warned Iran of “an economic isolation the world has never seen before.”
Two ballistic missiles
Since the war began with a US-Israeli attack on Iran on February 28, Tehran has effectively closed the strategic Strait of Hormuz, a vital artery for global energy supplies and maritime trade. Washington responded by imposing a naval blockade on Iranian ports.
Tehran has also launched missiles and drones at Israel and Arab countries allied with Washington. Iran says its strikes target military bases used by the United States in the war, although the attacks have also hit civilian facilities and sites.
On Tuesday, the United Arab Emirates accused Iran of launching two missiles toward its territory, saying they were targeting “maritime navigation.” Abu Dhabi said one missile fell in its territorial waters while the other landed outside them. Tehran denied the allegations.
Following the incident, the UAE, a US ally, announced that it had suspended trade and financial exchanges with Iran.
The two countries, separated by the Strait of Hormuz, share deep cultural and historical ties. Until the outbreak of the conflict, the UAE was considered a major trading partner of Iran, which has faced US sanctions.
On Wednesday, Iran’s Mehr News Agency quoted Major General Ali Abdollah, chief of staff of Iran’s Armed Forces, as saying that “any assistance or facilitation provided to the aggressor US military constitutes participation with the US military forces” in their operations against the Islamic Republic.
The war in the region continues with no clear prospect of a settlement, a situation underscored by Trump on Tuesday when he said Washington was not engaged in, nor planning, any talks with Iran.
“There are currently no talks, discussions or negotiations taking place or scheduled with the Islamic Republic of Iran,” Trump said on Truth Social.
“Foreign intervention”
The two sides signed a memorandum of understanding on June 17 following mediation led by Pakistan. The agreement included a series of measures, including a ceasefire, the reopening of the Strait of Hormuz and the lifting of the blockade, followed by negotiations aimed at reaching a final agreement on more complicated issues within 60 days. The deadline expired this week without any progress.
A US official told AFP that Trump had instructed his team not to resume dialogue unless Tehran showed greater alignment with Washington’s position.
Mohammad Bagher Ghalibaf, speaker of Iran’s parliament and the country’s chief negotiator, stressed on Tuesday that “the Strait of Hormuz will not be reopened unless the US commitments stipulated in the memorandum of understanding are implemented.” He cited the lifting of the blockade on Iranian ports, the removal of oil sanctions and the release of Iranian assets frozen abroad.
Ghalibaf, who arrived in Baghdad on Wednesday amid US pressure on Iraq to disarm armed groups allied with the Islamic Republic, condemned what he described as “foreign intervention.”
Meanwhile, Iran and Oman have been holding negotiations for weeks over the future of navigation through the strategic waterway.
Iran is seeking to control the strait and impose fees on vessels passing through it, powers it did not exercise before the war and which the United States strongly opposes.
AFP
