US president Donald Trump has warned of economic consequences for countries that provide “any type of lifeline to Iran” as the United States looks to resolve a 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 curbed 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of shipping through Hormuz on a path towards ending the conflict, but both quickly crumbled, even as Israel has largely withdrawn from the fighting.
In a social media message on Wednesday, Trump promised “Economic Warfare and Isolation on an unprecedented scale,” although details were scant.
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Iran has weathered near-continuous, punishing economic sanctions for nearly 50 years, since the Islamic Revolution of 1979.
Iranian foreign minister Abbas Araghchi called Trump’s comments an attempt to divert US 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.
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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.
Iran has separately been negotiating an agreement on managing the Strait of Hormuz with Oman and has said several times in recent weeks that an agreement was close.
Trump responded on Monday to those negotiations with a threat, warning he might bomb Oman, a long-standing US security partner, if it “gets in the way”.
Omani foreign minister Badr Albusaidi, speaking after meeting his Japanese counterpart, said on Thursday that lasting security in the strait required a permanent peace in the region and rejected further escalation.
China buys more than 80 per cent of Iran’s shipped oil, 2025 data from analytics firm Kpler shows, but the US risks retaliation should it engage in further economic warfare with China, a major exporter of items such as vital rare earth minerals to the US.
“Sanctions and pressure will not solve the problem,” Chinese foreign ministry spokesperson Lin Jian told reporters at a regular press briefing. “China calls on all parties concerned to take responsible measures to resolve the issue through political and diplomatic means.”
On Tuesday, the United Arab Emirates, which hosts a big 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.
On Tuesday, Trump said no talks were taking place with Iran. A day earlier, Jared Kushner, his son-in-law and special envoy, struck an upbeat tone, saying talks were still under way and “probably more robust” than ever.
Trump wants to seize Iran’s stockpile of highly enriched uranium and is seeking a new, more restrictive agreement curbing its nuclear energy and research programmes, to replace one from which he unilaterally withdrew the US in 2018.
A signatory to the Non-Proliferation Treaty, Iran has said for decades its nuclear programmes are peaceful. – Reuters
