Iran warns of economic fallout from any Israeli attack

Iran has issued a stark warning of the potential economic consequences of any Israeli military action, as tensions continue to escalate in the region. Following recent reports that US Vice President JD Vance reached out to Iran's security chief to attempt to revive peace talks, the Islamic republic emphasized its commitment to diplomacy and outlined a proposed seven-day plan to end the conflict and reopen the vital Strait of Hormuz.

The Wall Street Journal reported that the US has warned Gulf Arab countries to prepare for a potential short and intense military campaign against Iran following the November midterm elections, though President Trump has not yet made a final decision. Iran's Foreign Minister Abbas Araghchi stated that his country remains open to diplomatic efforts and is actively discussing a plan with mediators to implement the seven-day peace initiative.

He emphasized that Iran's military is prepared to defend the nation, but also reiterated its willingness to engage in talks to resolve the crisis.