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.
A naval blockade in the Strait of Hormuz prevents Iranian ports from exporting oil; the Strait remains significantly choked-off.
Iranian Deputy Foreign Minister Kazem Gharibabadi rejected claims of U.S. control over the Strait of Hormuz, asserting it remains under Iranian authority.
Iran has rejected President Donald Trump's threat of "Economic D-Day" sanctions. Trump claimed this would be an economic D-Day and that all allies needed to stand with the United States to isolate and defeat the Iran threat.
The US president warned that any country allowing its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will 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.
He 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."
Iran threatens to target any Gulf states assisting the US in the conflict; Iran's army chief Ali Abdollahi stated any assistance to the US army is tantamount to participation with US military forces.
Abdollahi added, "Nothing is hidden from our eyes."
The United Arab Emirates accused Tehran of launching two ballistic missiles and announced it would suspend all trade activities, commercial exchanges, and financial transactions with Iran.
The Senate passed a Russia sanctions bill that included new Iran sanctions and could grant Trump new tariff powers. He could potentially use these against countries aiding Tehran’s commerce and weapons procurement.
The legislation must still pass the U.S. House of Representatives. This could prove challenging given widespread concerns across both parties about the measures.
The US president reportedly paused attacks on Iran after nightly strikes failed to bring officials in Tehran to the negotiating table.
This intensified economic pressure campaign comes as the war nears its sixth month with no immediate diplomatic or military off-ramp in sight.
Trump stated that Iran's navy, air force, and military factories are destroyed, its currency is worthless, and its country is on the brink.
Trump a 'fully fledged loser'.