Trump warns of economic consequences for any country supporting Iran

United States (US) President Donald ​Trump has warned of economic consequences against any country that provides “any type of lifeline to Iran” as the US looks to resolve the ‌war it began alongside Israel nearly six months ago.

Thousands have been killed in the war, which quickly drew in Gulf nations and shocked global markets as Iran flexed its ability to curb shipping through the Strait of Hormuz, which carried about a fifth of the world’s traded oil before February.

The US and Iran have twice announced ceasefire deals, in April and June, aiming to ​restore the free flow of shipping through Hormuz on a path towards ending the conflict, but both quickly crumbled, even as Israel has largely withdrawn ​from the fighting.

IRAN HAS FACED YEARS OF SANCTIONS In a social media message on Wednesday, Trump promised “Economic Warfare and Isolation on ⁠an unprecedented scale,” although details were scant.

Iran has weathered continuous punishing economic sanctions for nearly 50 years, since the Islamic Revolution of 1979.

“ANY country that allows its ​financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences,” Trump wrote.

Iranian Foreign Minister Abbas Araqchi called ​Trump’s comments an attempt to divert American public opinion from domestic financial problems, including record debt and rising interest rates.

He said Washington’s insistence on policies he described as failed would bring further failures and alienate Iranians.

“America’s economic terrorism threatens the global economy and the national sovereignty of countries around the world,” he said on X.

Trump has yet to achieve the objectives he set out ​at the start of the war: dismantling Iran’s nuclear programme, curbing its ability to attack regional rivals and creating conditions for Iranians to overthrow their clerical rulers.

CHINA ​CALLS FOR DIPLOMACY Trump’s social media threats and announcements do not always get implemented as written.

He did not say what specific steps the US would take or name any country, though ‌the warning ⁠would appear to extend to US allies that have helped mediate peace talks.

On Tuesday, the United Arab Emirates, which hosts a major US military base, said it was suspending all trade activities, commercial exchanges and financial transactions with Iran until further notice.

The step came after the UAE defence ministry said it had detected two missiles launched from Iran that fell into the sea, a report Iran dismissed as baseless.