United States President Donald Trump has threatened to impose what he described as the “most crushing economic operation ever taken against any country” against Iran and countries that continue to do business with Tehran.
Trump made the warning in a post on Truth Social, saying any country that allows its financial institutions, businesses, airports or government agencies to provide support to Iran would face “tremendous economic consequences”.
He did not specify which countries would be targeted or what measures they could face.
The warning comes after a 60-day ceasefire between the US, Israel and Iran formally expired without a diplomatic agreement to end the conflict.
Trump said the new economic campaign was necessary because Iran had failed to reach a deal with Washington.
He also demanded an end to activities including oil smuggling, financial transfers, exchange-house transactions, ship registrations and the use of front companies to support Iran’s economy.
Iranian Foreign Minister Abbas Araghchi dismissed Trump’s announcement as a diversion from America’s own economic problems.
He warned that intensifying economic pressure would only increase hostility towards the United States.
The latest threat follows a broader US campaign of sanctions against Iranian businesses and foreign companies accused of helping Tehran generate revenue.
Washington has already targeted several privately owned oil refineries in China that are accused of processing Iranian crude. China has rejected the sanctions, describing them as a violation of international law.
China is particularly important to Iran’s oil industry because Chinese businesses remain major buyers of Iranian crude.
The United Arab Emirates, meanwhile, recently announced that it would sever financial and economic ties with Iran after Tehran was accused of launching ballistic missiles towards maritime traffic.
Iran’s armed forces subsequently warned neighbouring Gulf states against supporting US military operations, saying assistance to Washington would be considered collusion.
Trump’s latest announcement also comes amid continuing tensions around the Strait of Hormuz, a major global energy route through which about 20% of the world’s crude oil and liquefied natural gas normally passes.
The US and Oman have been involved in separate efforts to negotiate with Iran over reopening the waterway.
The escalation has raised concerns about the impact of further sanctions on global energy prices and the wider world economy.
US Treasury Secretary Scott Bessent previously warned that Washington would seek to impose economic isolation on Iran on an unprecedented scale.
Trump’s administration has said its economic pressure campaign is intended to cut off Tehran’s sources of revenue and weaken its ability to continue the conflict.
Iran, however, has rejected the pressure campaign and accused Washington of pursuing policies that have already failed.
The White House and US Treasury Department have not provided further details about the measures Trump has threatened or identified which countries could be affected.
(BBC News)