Trump’s ‘economic D-Day’ for Iran: A path to peace or the war’s next phase?
Nearly six months into the Iran war, US President Donald Trump is reaching for a different weapon. After months of air strikes, threats of massive attacks and faltering attempts at diplomacy, Trump has promised an “economic D-Day” against Tehran — an unprecedented campaign of financial pressure intended to cripple Iran’s economy, choke off its remaining sources of revenue and force its leaders to…
Iran has vowed to resist foreign interference, as US President Donald Trump threatens new sanctions in an attempt to collapse the Islamic Republic. Iran's parliament speaker, Mohammad Bagher Ghalibaf, speaking at an Arbaeen ceremony, emphasized that history, geography, and shared religious beliefs bind Iran and Iraq together, urging both nations to unite for economic prosperity and development.
Ghalibaf stated that Tehran and Baghdad will not allow foreign governments to decide their futures, and the two countries should focus on joint projects to improve living standards and economic independence. Meanwhile, the US Treasury announced the toughest sanctions in history on Iran, aiming to economically collapse the regime.
Energy prices have been a concern for the Trump administration, as rising costs impact borrowing and oil prices have surged due to Iran's attacks on vessels in the Strait of Hormuz and the Houthi-imposed maritime blockade against Saudi Arabia in the Red Sea. US Treasury Secretary Scott Bessent called for China to support the proposed sanctions, asserting that the nation gains significantly from the Strait of Hormuz's reopening and lower energy prices.
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