Trump warns of economic consequences for any country that supports Iran

WASHINGTON/DUBAI, Aug 20:  US President Donald Trump warned of economic consequences against any country that provided "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 flexed its ability to curb 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of shipping through Hormuz on a path towards ending the conflict, but both quickly crumbled, even as Israel has largely withdrawn from the fighting.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. Iran has weathered continuous punishing economic sanctions for nearly 50 years, since the Islamic Revolution of 1979.

"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 wrote.

Iranian Foreign Minister Abbas Araqchi called Trump's comments an attempt to divert American 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.�"REUTERS