Iran rejects Trump's threat of 'economic warfare' on 'unprecedented scale'
Iranian Foreign Minister Abbas Araghchi says U.S. President Donald Trump's threat to launch campaign of "economic warfare" against Iran "will only bring further defeat."
US President Donald Trump has threatened economic consequences for countries that engage in financial or business dealings with Iran, warning that such actions will face "tremendous economic consequences". This threat is primarily directed at Asian and Middle Eastern nations, including China, Iraq, the UAE, and Turkey, which are Iran's main trading partners.
The aim of these secondary sanctions is to force these nations to choose between maintaining trade links with Iran and accessing the US market, thereby increasing pressure on Iran's export revenues. However, the specifics of these potential economic measures remain unclear, as no details have been provided by the Trump administration.
Meanwhile, Iran's central bank chief reported that the country is currently exporting no oil due to increased economic pressure from the US.
Brief written by urgent.news from The National Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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