Trump threatens ‘tremendous economic consequences’ on any country helping Iran
President Donald Trump has warned that any country helping or trading with Iran will face "tremendous economic consequences", vowing to launch the "most crushing economic operation ever taken against any country". The threat, posted on Truth Social, comes after a 60-day ceasefire between Iran and the US and Israel expired on Monday with no sign of a diplomatic or military resolution to the conflict, which began at the end of February. It extends Washington's existing Operation Economic Fury sanctions campaign and raises pressure on nations still dealing with Tehran, though Trump named no specific country.
Trump said the move, dubbed "economic D-Day", was punishment for Iran's failure to reach a deal with the US, warning that any country allowing its banks, businesses, airports or government bodies to provide Iran a "lifeline" would itself be targeted, though he gave no details of what penalties would follow. The warning came a day after the United Arab Emirates cut financial and economic ties with Iran following a missile threat, and China, the largest buyer of Iranian oil, was not named but remains a likely target given past US sanctions on Chinese "teapot" refineries. The conflict has disrupted the Strait of Hormuz, through which roughly 20% of the world's crude oil and LNG normally passes, pushing up global energy prices ahead of the US midterm elections in November.
- Trump threatens severe economic punishment for any country aiding Iran
- Comes as US-Iran ceasefire expired with no resolution in sight
- UAE cut Iran ties; China remains top buyer of Iranian oil
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Trump's threat comes against the backdrop of a war between Iran and a coalition of the US and Israel that began at the end of February. A 60-day ceasefire had briefly paused the fighting, but that truce expired without any lasting settlement being reached, leaving the underlying conflict unresolved. Washington has already been using sanctions, under a campaign known as Operation Economic Fury, to pressure Iran and any country that continues to trade with it.
The row matters beyond the two main countries because Iran sits next to the Strait of Hormuz, a narrow sea route that carries a large share of the world's oil and gas exports. Disruption there has already pushed up global energy prices, meaning the standoff can affect fuel costs and economies far from the region. Countries such as China, a major buyer of Iranian oil, and the United Arab Emirates, which has recently distanced itself from Tehran, illustrate how other nations are being drawn into the dispute through their trade and financial links with Iran.
The threat also comes at a politically sensitive time for Trump, with US midterm elections due in November, meaning both the economic fallout and any military or diplomatic developments in the coming weeks are likely to carry added significance at home as well as abroad.