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Trump vows tougher economic measures on Iran and supporting countries
Donald Trump has said he will launch tougher economic measures against Iran, as well as any country that helps or does business with it.
The US president wrote in all capital letters on Truth Social that he was launching “the most crushing economic operation ever taken against any country”, without providing further details or the names of any nation other than Iran.
It comes after a 60-day ceasefire formally expired on Monday without any sign of a diplomatic settlement to the war the US and Israel began at the end of February. Tehran said Trump’s threat would only bring further animosity.
If realised, it would extend a campaign of economic pressure on Iran aimed at forcing it into submission.
The US launched a wave of sanctions on foreign banks and firms that do business with Iran in April when it became apparent that military action had not led to the overthrow of the regime in Tehran nor its surrender, as Trump had initially hoped.
Conversely, since the start of the war, Iran has been able to stem the flow of marine traffic through the Strait of Hormuz, raising energy prices globally.
Ahead of the US midterm elections in November, Trump is facing pressure over how much the war is costing American consumers.
The US president wrote on Wednesday evening that he was launching “economic D-Day” on Iran because it had failed to make a deal with the US.
“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 said.
He did not specify what punishment countries might face.
Trump continued: “Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies – it all needs to stop NOW. You know who you are.”
It comes a day after the United Arab Emirates (UAE), a US ally, announced it would be severing all financial and economic ties with Iran, following a new missile threat from the country.
The UAE’s defence ministry said it had detected two ballistic missiles launched from Iran targeting maritime traffic, both of which landed in the sea.
Iranian entities have long used Dubai’s financial system to transfer money through exchange houses and shell companies.
Following the UAE’s decision, Iran’s armed forces warned neighbouring Gulf states against providing support to the US military, saying any assistance would be considered collusion.
While China was not named in the post, businesses there are the biggest buyers of oil from Iran, a key source of Tehran’s funding.
Since the start of the war, Washington has sanctioned several so-called teapot refineries – privately owned oil processing plants, mostly based in Shandong province, eastern China.
At the time, China’s Ministry of Commerce said the sanctions were “in violation of international law and the basic norms governing international relations” and ordered that the sanctions “shall not be recognised, enforced or complied with”.
Iran’s Foreign Minister Abbas Araghchi said Trump’s latest post was “a diversion” from America’s own economic problems.
“Doubling down on failed policies will only bring further defeat – and enmity of Iranians,” he wrote on X.
Operation Economic Fury, announced by the US Treasury Department and the Pentagon in April, aimed at degrading Tehran’s warfighting capability by cutting off its revenue streams, and also included a naval blockade aimed at stopping Iranian exports.
US Treasury Secretary Scott Bessent said last week that the US would soon impose economic isolation on Iran “like the world has never seen before”.
Trump recently also reportedly threatened to bomb Oman – a US ally – if it “gets in the way” of his administration’s own talks with Iran.
The US and Oman have been negotiating separately with Tehran to reopen the Strait of Hormuz, a vital trade route through which around 20% of the world’s crude oil and liquefied natural gas usually flows.
The BBC has contacted the Chinese embassy in Washington, the White House and the US Treasury Department for comment.
[BBC]
Latest News
US sanctions International Criminal Court itself in major escalation
United States Secretary of State Marco Rubio has announced a new set of sanctions against the International Criminal Court (ICC), this time targeting the entity itself, as opposed to the tribunal’s officials or groups that provide support.
The announcement on Friday represented a major escalation from the administration of US President Donald Trump, which has vowed an “all of government” approach to dismantling the court.
“We will ban transactions with this rogue court, cutting off their resources and crippling their ability to operate against us because our message is clear: the United States and the American people are not subject to the jurisdiction of this fake ICC,” Rubio said in a video posted on social media. “Either the ICC will end its threats, or we will end the ICC.”
As justification for its actions, the administration has pointed to the court’s ongoing investigation into abuses committed in Afghanistan, which could ensnare US military and intelligence personnel, as well as the ICC’s arrest warrant for Israeli Prime Minister Benjamin Netanyahu and former Defence Minister Yoav Gallant for war crimes committed in Gaza.
Before Friday’s actions, the US had sanctioned ICC judges and prosecutors, a UN special rapporteur focusing on the occupied Palestinian territories and Palestinian rights groups that have provided evidence to the court.
Several rights groups have challenged those sanctions in US federal court, saying restricting how US citizens interact with the court treads on their constitutional freedoms. Sanctioned ICC judges have also launched legal challenges in the US.
[Aljazeera]
Foreign News
Trump announces Russian diesel deal amid soaring US fuel prices
United States President Donald Trump said that Russia has agreed to supply 300,000 tonnes of diesel fuel to global markets amid discussions with Russian President Vladimir Putin.
“I have just concluded a highly successful discussion with President Vladimir Putin, of Russia, wherein it was agreed that Russia will immediately supply over 300,000 Tons of Diesel Fuel to the American and Global Marketplace, another 500,000 Tons during the month of November, and 1,000,000 Tons immediately thereafter,” Trump said in a post on his Truth Social platform.
The president added that Russia would deliver an additional 3 million tonnes of fuel “within a short period of time”. He said that the country would supply 500,000 tonnes in November.
An envoy for Russian President Vladimir Putin, Kirill Dmitriev, praised cooperation between Russia and the United States on diesel and energy in a post on X shortly after.
“Russia-US cooperation on diesel and energy will benefit the world,” Dmitriev wrote on X.
Petrol price pressures
The deal comes despite Ukrainian air strikes, which have taken more than half of the country’s oil refining capacity offline, according to claims made by Ukraine’s Ministry of Defence on Sunday.
The latest announcement comes a week after the G7 countries agreed to release 100 million barrels amid pressure from the White House.
Diesel prices have been elevated in recent months but have started to decline. The average price for a gallon is $6.27 ($1.66 per litre), according to the American Automobile Association (AAA), which tracks daily petrol prices. That’s down $0.10 from this time last week, but up $5.94 from this time one month ago.
[Aljazeera]
Latest News
Tsunami warnings across Latin America after 7.7 magnitude earthquake hits
A magnitude 7.7 earthquake has hit southern Panama, triggering tsunami warnings across Central and South America.
The US National Weather Service issued tsunami warnings for Panama, Colombia, Ecuador, Nicaragua and Guatemala on Friday following the quake.
Chile’s naval Hydrographic and Oceanographic Service also issued a tsunami warning.
The US Geological Survey said the earthquake was centred about 10km (6 miles) southwest of the remote community of Pitaloza Arriba along the Pacific Ocean coast.
Residents of Panama City reported feeling tremors, with buildings shaking and people evacuating into the streets.
“We felt it very strongly. It knocked things over in the kitchen, but we’re okay, though we’re very scared,” 60-year-old Rosendo Dominguez, who is from Herrera province, where the earthquake struck, told The Associated Press news agency by phone.
“Everyone is outside, scared,” Dominguez added.
Videos shared by newspaper La Prensa showed the tower of a historic building had collapsed along with several balconies of a residential building in Penonome, a city about halfway between the epicenter and Panama City.
Panama’s ministry of education ordered schools closed.
There have been several destructive earthquakes in the region this year.
In June, twin quakes hit northern Venezuela, causing widespread devastation and killing at least 6,500 people.
In August, a magnitude 7.4 earthquake hit Colombia, killing at least 289 people.
[Aljazwwea]
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