Trump Unleashes Economic Warfare on Iran with 'Economic D-Day' Measures
US President Donald Trump has announced sweeping economic measures against Iran, describing them as an 'ECONOMIC D-DAY'. The move comes after a memorandum of understanding between the US and Iran expired on August 17. The memo was meant to pave the way for a broader agreement to end the war between the two countries, address Iran's nuclear program, and reopen the Strait of Hormuz to maritime traffic.
Trump stated that any country allowing its financial institutions or businesses to provide support to Iran would face 'tremendous economic consequences'. He also warned that oil smuggling, swap lines, cash transfers, exchange houses, ship registries, and front companies will be targeted.
Saudi Arabia and Qatar have backed diplomatic efforts to reduce regional tensions. Saudi Foreign Minister Faisal bin Farhan bin Abdullah and Qatari Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani discussed regional developments in Riyadh on Wednesday, stressing the need for continued joint action to ensure security, safety, and freedom of navigation through vital maritime corridors.
Trump emphasized that Iran will never possess a nuclear weapon. The US President has been tightening pressure on Iran since the expiry of the memorandum of understanding last week.