World News Today Live Updates: Iran says Trump’s ‘economic warfare’ will fail

A school in Sweden was targeted by a masked assailant wielding a sword, resulting in multiple injuries, with the perpetrator currently in custody, according to local authorities. Meanwhile, Iran's President Masoud Pezeshkian declared that Iran should cease the war, asserting Iran's current strength and the global acknowledgment of its victory.

Iranian Foreign Minister Abbas Araghchi dismissed President Donald Trump's new sanctions campaign, labeling it as an attempt to divert attention from domestic issues in Washington rather than a genuine strategy against Tehran. Araghchi further claimed that the sanctions were designed to distract from Washington's unprecedented debt and burgeoning interest costs.

The remarks followed Trump's announcement on Truth Social about what he termed "Economic Warfare and Isolation on an unprecedented scale" against Iran, specifically targeting nations that aid Iran's economy. Trump warned that any entity involved in supporting Iran would face "TREMENDOUS Economic Consequences," and accused the US of engaging in "economic terrorism" that endangers global economies and sovereignty.

Treasury Secretary Janet Bessent announced that further details of the sanctions regime would be released at a press conference the following Monday. A separate incident saw an Alaska plane crash, resulting in eight fatalities near a remote location in western Alaska.