Trump warns of economic consequences for any country that supports Iran

US President Donald Trump has threatened economic repercussions for any nation providing assistance to Iran, as the US aims to end a six-month-long conflict it initiated alongside Israel. The war has claimed thousands of lives and caused global markets to react sharply, as Iran demonstrated its capacity to control shipping through the Strait of Hormuz, a critical route for approximately one-fifth of the world's traded oil before February.

The US and Iran have attempted to restart ceasefire agreements twice, in April and June, to resume free shipping through Hormuz and pave the way for ending the conflict. However, these efforts have all failed, even as Israel has largely withdrawn from the fighting.

In a social media post on Wednesday evening, Trump announced "Economic Warfare and Isolation on an unprecedented scale." Yet, he did not detail the specific actions the US would take against such countries, which could include allies that have helped mediate peace talks. Trump did not name any particular country, leaving it unclear if this includes US allies.

On Tuesday, the United Arab Emirates (UAE), which hosts a significant US military base, suspended all trade activities, commercial exchanges, and financial transactions with Iran until further notice. This decision followed the detection of two missiles launched from Iran that fell into the sea, a claim Iran denied as baseless. The US and Iran have agreed to extend the ceasefire, though Pakistan is stepping up mediation efforts.

Iran remains open to dialogue with the US but insists that negotiations are not the same as surrender. Iran's supreme leader's adviser, Mohammad Mokhber, stated on Tuesday that military pressure and sanctions would not break Iran's resolve.

Trump's threats have not resulted in concrete actions, and he did not specify the steps the US would take against countries providing support to Iran. The US has threatened to seize Iran's stockpile of highly enriched uranium and seek a new, more restrictive agreement to limit Iran's nuclear energy and research programs, replacing the deal he unilaterally withdrew from in 2018. Iran, a signatory to the non-proliferation treaty, has consistently maintained that its nuclear programs are peaceful.