Trump announced a devastating economic campaign against Iran and threatened its allies
U.S. President Donald Trump announced the launch of a large-scale economic campaign against Iran, calling it a “devastating economic operation.”
According to him, Washington is also prepared to impose measures against countries that continue to support Tehran.
“No one has given the Islamic Republic of Iran a greater opportunity to make a deal than I have. Unfortunately for them, they did not take advantage of it. Therefore, today I am announcing the most devastating economic operation ever carried out against any country! It will be an economic war and isolation on an unprecedented scale,” Trump said.
The U.S. president added that any country that allows its financial institutions, businesses, airports, or government agencies to support Iran will itself face “colossal economic consequences.”
As Bloomberg notes, Trump has not yet provided specific details of the new economic measures. At the same time, his threat to extend pressure to Iran’s trading partners immediately drew attention to China.
China is the main buyer of Iranian oil, so restrictions on its sale could trigger a new escalation in relations between Washington and Beijing.
In particular, such measures could complicate Trump’s efforts to extend the tariff truce with Chinese President Xi Jinping, who is expected to visit the U.S. in September.
Brett Erickson, managing partner at Obsidian Risk Advisors, stated that Trump’s main message is in fact directed specifically at China, since Beijing remains Iran’s key economic partner.
According to Bloomberg, ending the conflict with Iran is becoming an increasingly important issue for Trump.
The U.S. president is facing high gas prices and growing public opposition to the war. At the same time, the Republican Party fears potential losses in the November midterm congressional elections.
Trump had previously threatened to expand U.S. strikes against Iran if Tehran did not return to negotiations.
At the same time, the U.S. president stated that one of Washington’s main goals remains ensuring the safety of shipping in the Strait of Hormuz.
Trump also rejected the idea of imposing a special fee on ships passing through the strait. According to him, Middle Eastern countries should instead increase investment and trade with the U.S.
As early as August 3, Trump had stated that Washington and Tehran should begin a new round of negotiations.
He said the U.S. was prepared to launch a large-scale strike against Iran but decided against it following appeals from allies who believed the parties still had a chance to reach an agreement.
Thus, Trump’s new statement signals an intensification of economic pressure on Iran, though the specific mechanisms of future restrictions remain unknown at this time.
Trump wrote about this on the social media platform Truth Social.
Iranian officials have begun to publicly speak of prioritizing offensive operations amid a stalemate in diplomatic contacts with the United States. According to Channel NewsAsia, citing AFP, Tehran also views control over the Strait of Hormuz as a lever of influence in its standoff with Washington.
U.S. President Donald Trump stated that any country that assists Iran or does business with it will face massive economic consequences. He wrote this on the social media platform Truth Social, according to BBC News.
Iraq has asked Iran to grant its oil shipments “special status” when passing through the Strait of Hormuz. Shipping in the area has declined significantly since the war began in February.
