Trump vows 'tremendous' economic costs on Iran partners

US President Donald Trump has announced a major new campaign to target Iran's economy, threatening severe punishment for any country that does business with the Islamic republic. According to RTE News, he wrote on Truth Social that he was launching "the most crushing economic operation ever taken against any country" and that any nation providing a "lifeline" to Iran would face "tremendous economic consequences".

The campaign, which appears to extend the pressure of Operation Economic Fury launched in April, aims to economically isolate Iran. Trump listed several activities that need to stop immediately, including oil smuggling, swap lines, cash transfers, exchange houses, ship registries, and front companies.

The announcement comes as the conflict with Iran nears its sixth month, with no immediate diplomatic or military off-ramp in sight, and the vital Strait of Hormuz still significantly choked-off, as reported by Al-Monitor and RTE News. Trump also downplayed recent attacks on commercial vessels in the Strait of Hormuz, saying they were only of "nuisance value", according to ABC News (US).

Brief written by urgent.news from Al-Monitor, RTE News, BBC World, ABC News (US), CBC News — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.