US President Donald Trump has announced a major new campaign aimed at weakening Iran’s economy, warning that any country that assists or does business with Iran could face severe economic consequences.
Trump said the United States would launch what he described as an unprecedented economic warfare and isolation campaign against Iran.
He warned that countries whose financial institutions, businesses, airports or government agencies provide any form of support to Iran would also face “tremendous” economic consequences.
Trump did not specify what measures would be imposed on such countries and did not name any country other than Iran.
The announcement comes as the US-Iran war approaches its sixth month, with no clear diplomatic or military solution currently in sight.
The situation has also been complicated by Iran’s continued restrictions on shipping through the Strait of Hormuz, a vital international trade route. Earlier efforts to reach an agreement to reopen the waterway have collapsed.
Although both sides have recently indicated that messages were being exchanged, Trump said Tuesday that talks had ended. He also suggested that the Strait of Hormuz could become a “new US territory.”
The latest economic threat comes amid growing political pressure on Trump at home as the November elections approach.
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