Trump vows 'tremendous' economic costs on Iran partners
US President Donald Trump said he was launching a major new campaign to target Iran's economy, threatening "tremendous" punishment on any country that helps or does business with the Islamic republic.
US President Donald Trump has announced an unprecedented campaign to economically isolate Iran, threatening severe punishment for any country aiding the Islamic republic. The intensified pressure campaign follows months of conflict with no immediate resolution in sight, as the critical Strait of Hormuz remains largely inaccessible.
Trump asserts that this will be the "MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!" He specifically targets activities such as oil smuggling, cash transfers, and ship registries, urging an immediate halt. Treasury Secretary Scott Bessent echoed this sentiment, stating the US will implement a two-pronged strategy combining economic isolation with a naval blockade.
Iran, despite being hit by US military operations, remains defiant and has significantly reduced US munition stockpiles. The ongoing conflict began on February 28 with US-Israeli strikes, which Iran retaliated against, leading to a collapse in negotiations for a framework deal to reopen the Strait. While Trump has emphasized US military efforts to facilitate ship transit, he remains firm on not engaging in talks.
Meanwhile, the UAE has suspended all economic ties with Iran, citing missile attacks, marking a significant regional reaction to the escalating tensions.
Written by urgent.news from RTE News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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