Trump threatens ‘tremendous economic consequences’ on any country helping Iran

President Donald Trump has threatened to impose "TREMENDOUS Economic Consequences" on any nation that aids or trades with Iran. He announced this on his Truth Social platform, declaring that he is launching "the most crushing economic operation ever taken against any country." Trump gave no specifics and did not mention other nations.

The threat comes after a 60-day ceasefire with Iran ended on Monday, with no end to the ongoing conflict that the US and Israel started at the end of February. This move appears to be an extension of "Operation Economic Fury," launched in April to sanction foreign entities dealing with Iran. Trump declared this "economic D-Day" because Iran has not reached an agreement with the US.

He stated that any country permitting its financial institutions, businesses, airports, or government entities to provide assistance to Iran would face "TREMENDOUS Economic Consequences." He did not specify the nature of the punishment. The UAE, a US ally, announced it would sever all financial and economic ties with Iran due to a recent missile threat from Iran.

Following this, Iran's armed forces warned neighboring Gulf countries not to support the US military, considering any assistance as collusion. While China is not named, it is the largest buyer of oil from Iran, a crucial source of funding for Tehran. The US has sanctioned several oil processing plants in China. Treasury Secretary Scott Bessent said the US will impose economic sanctions "like the world has never seen before."

In April, the US Treasury and Pentagon announced "Operation Economic Fury," aiming to dismantle Iran's revenue streams through sanctions and stopping foreign entities from doing business with Iran. A naval blockade was also included to prevent exports from Iran. The US and Oman have been negotiating separately with Iran to reopen the Strait of Hormuz, a vital shipping route for global energy.

The conflict has disrupted this route and raised global energy prices. The conflict has put pressure on Trump ahead of the US midterm elections in November.