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Washington/Dubai — President Donald Trump warned of economic consequences for any country that provided “any type of lifeline to Iran” as the US looks to resolve a war it began alongside Israel almost 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of shipping through Hormuz on a path towards ending the conflict, but both quickly crumbled, even as Israel has largely withdrawn from the fighting.In a social media message on Wednesday, Trump promised “Economic Warfare and Isolation on an unprecedented scale”, though details were scant.No one has given the Islamic Republic of Iran a greater opportunity to make a Deal than me. TRAGICALLY, for them, they have failed to take it. Therefore, today, I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY! This will be Economic Warfare and… pic.twitter.com/1CsO5S1KOy— Commentary Donald J. Trump Truth Social Posts On X (@TrumpTruthOnX) August 19, 2026 Iran has weathered near-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 said Trump’s comments were 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.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.Oman warningTrump’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 mention 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 the Gulf state, a longstanding US security partner, if it “gets in the way”.Omani foreign minister Badr Albusaidi, speaking after meeting his Japanese counterpart Toshimitsu Motegi, 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% 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 major 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.Iran counts costIran entered the war with high inflation, a weakening currency, energy shortages, sanctions and deep structural weaknesses and must now contend with damaged infrastructure, disrupted trade, lost production and the cost of rebuilding.President Masoud Pezeshkian acknowledged the economic toll in remarks on state television last week, in which he blamed high inflation on a US blockade of Iranian ports and sanctions on its oil exports.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 underway 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.
