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Trump warns of sweeping economic penalties for firms aiding Iran
The threat follows the expiration of a 60-day Iran ceasefire and the UAE’s decision to sever financial and economic ties with Tehran.
President Donald Trump said the US will impose “tremendous economic consequences” on any country that helps or does business with Iran, without naming specific nations or outlining concrete measures, according to a statement posted on Truth Social reported by BBC Business.
The comments come after a 60-day ceasefire with Iran expired on Monday, with no diplomatic or military off-ramp in sight. The latest warning appears to build on the pressure campaign the US has described as Operation Economic Fury, launched in April to sanction foreign banks or firms tied to Tehran.
Trump said the penalties would extend to any lifeline provided by financial institutions, businesses, airports, or government entities, pointing to activities such as oil smuggling, swap lines, cash transfers, exchange houses, ship registries, and front companies. BBC Business also noted the US had recently signaled broader economic isolation efforts, including remarks from Treasury Secretary Scott Bessent.
BBC Business reported that a day earlier, the United Arab Emirates announced it would sever all financial and economic ties with Iran after a missile threat, with the UAE saying missiles launched from Iran targeted maritime traffic and landed in the sea. It also said the US and Oman have been negotiating separately with Tehran to reopen the Strait of Hormuz, a shipping chokepoint vital to global commerce.