US Intensifies 'Economic Fury' Against Iran Amidst Escalating Conflict
Naval blockade chokes Strait of Hormuz as 60-day ceasefire expires, prompting new sanctions and defiant threats from Tehran.
Carla Rooney
The United States and Israel initiated a conflict with Iran at the end of February.
Nightly strikes failed to compel officials in Tehran to negotiate, prompting the cessation of military action.
Donald Trump issued a stark warning: "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."
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 further demanded, "Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW. You know who you are."
A naval blockade in the Strait of Hormuz has sought to prevent Iranian ports from exporting oil; the waterway reportedly remains significantly choked-off.
Despite this, vessels from Gulf countries allied with the US continued to navigate the Strait of Hormuz, even amidst Iranian threats to shipping in the waterway.
Iran has rejected President Donald Trump's threat of "Economic D-Day" sanctions. Trump claimed this would be an economic D-Day and all allies needed to stand with the United States to isolate and defeat the Iran threat.
Abbas Araghchi claimed the US sanctions would only lead to "further defeat" and serve as a distraction from America's debt crisis.
A 60-day ceasefire with Iran expired on Monday.
Iran has threatened to target any Gulf states assisting the US in the conflict; Iran's army chief Ali Abdollahi stated that any assistance to the US army is tantamount to participation with US military forces.
Nothing is hidden from our eyes.
Abdollahi reportedly asserted, "Nothing is hidden from our eyes."
The United Arab Emirates claimed missiles launched from the country, though Iran dismissed these reports as baseless.
The United Arab Emirates also announced it would suspend all trade activities, commercial exchanges, and financial transactions with Iran.
Trump stated that Iran's navy, air force, and military factories are destroyed, its currency is worthless, and its country is on the brink.
Iran's judiciary chief, Gholam-Hossein Mohseni-Eje'i, reportedly called Trump a 'fully fledged loser'.