Oil prices jump after Trump declares economic war on Iran

Washington - In the absence of progress in talks with Tehran, US President Donald Trump has threatened Iran with an unprecedented "economic war". He warned via his platform Truth Social that every country, along with its financial institutions, businesses, airports, and government agencies, must prepare for "MASSIVE economic consequences" if they aid Iran. The assistance of all US allies is necessary to halt the threat posed by Iran, he added.

However, Iranian Foreign Minister Abbas Araghtschii dismissed recent Trump threats, stating they were an attempt to divert attention from internal US issues. He emphasized that America's economic terrorism threatens the global economy and the national sovereignty of nations worldwide. Iran remains open to dialogue with the US, but warns against confusing negotiations with capitulation, according to Mohammad Mochber, a counselor to the country's spiritual leader.

As the election year in the US approaches in just two and a half months, Trump faces significant domestic political pressure. Despite weeks of failed attempts to secure victories in his war against Iran, both diplomatically and militarily, it appears there is no progress in his favor.