- Trump threatened to penalize countries doing business with Iran, stating that “Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW.”
- Oil prices jumped more than 2% on Thursday after Trump’s threat, with Brent crude futures up 2.4% to almost $94 a barrel and WTI futures rising 2.5% to $86.
- The Iranian Foreign Ministry condemned Trump’s “unlawful” threat, calling heightened sanctions “the other side of the coin of war and military aggression” and warning that those who order or implement the levies “are liable to prosecution and punishment.”
- Iranian Foreign Minister Abbas Araghchi dismissed Trump’s threat as a “diversion” and promised the move “will only bring further defeat,” while Deputy Foreign Minister Kazem Gharibabadi said US decision-making was based on “flawed calculations.”
President Donald Trump has escalated tensions with Iran, threatening to initiate the "MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY". This comes as oil prices surged over 2%, with Brent crude reaching $94 a barrel. Trump warned of severe penalties for nations aiding Iran, stating, "Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW."
In response, Iranian officials dismissed Trump's threats as ineffective. Iranian Foreign Minister Abbas Araghchi labeled the sanctions a "diversion" and predicted they would lead to further defeat for the U.S. He stated, "Doubling down on failed policies will only bring further defeat – and enmity of Iranians." The Iranian Foreign Ministry condemned the U.S. actions as "unlawful" and warned of potential repercussions for those implementing the sanctions.34
Despite Trump's claims of control over the Strait of Hormuz, analysts remain skeptical about the effectiveness of his economic threats against a regime that has endured significant sanctions in the past. The situation remains tense as both sides prepare for potential escalations in their ongoing conflict.
“Iranian Foreign Minister Abbas Araghchi called the threat a 'diversion' and warned it 'will only bring further defeat,' while Deputy Foreign Minister Kazem Gharibabadi said US decision-making is based on 'flawed calculations.' The Iranian Foreign Ministry condemned the move as 'unlawful,' saying those who implement it 'are liable to prosecution and punishment.'”
