Trump Threatens Economic Punishment for Countries Supporting Iran

WASHINGTON — Trump said Wednesday that his administration was launching what he described as an unprecedented economic campaign against Iran, expanding the pressure beyond direct sanctions on Tehran to countries and businesses that help sustain its economy. He warned that governments allowing financial institutions, companies, airports or other entities to provide assistance to Iran could face significant economic consequences, although he did not specify which penalties would be imposed or identify particular countries. The announcement comes as efforts to resolve the conflict diplomatically remain stalled.

The latest escalation follows months of fighting involving the United States, Israel and Iran, along with repeated disruptions to shipping through the Strait of Hormuz, a critical route for global energy supplies. The conflict has sharply reduced tanker traffic through the waterway and contributed to higher shipping, insurance and energy costs. Iran has continued to reject pressure to surrender its nuclear and strategic interests, while Washington has sought to restrict the country's ability to generate revenue, particularly through oil exports. China, Iran's largest oil customer, could face particular pressure if Washington expands so-called secondary sanctions to foreign companies and governments that continue trading with Tehran.