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• US president threatens severe penalties for any nation providing a lifeline to Tehran

• Iranian officials dismiss the economic threats as ‘failed policy’

• Houthis launch drone attacks on Saudi oil facilities

WASHINGTON: US President Donald Trump pledged an escalated campaign of economic warfare against Iran and threatened sev­ere penalties for any nation that trades with Tehran, drawing a swift rebuke from Iranian officials who dismissed the move as a conti­nuation of failed American policies.