President Donald Trump don talk say America go inflict ‘TREMENDOUS Economic Consequences’ on any country wey help or do business with Iran. He write for im Truth Social page in capital letters say im dey launch ‘the most crushing economic operation ever taken against any country!’ He no give further details, and im no name any other nation.
Di announcement come after 60-day ceasefire with Iran expire on Monday, with no sign of diplomatic or military off-ramp to di conflict wey US and Israel begin at di end of February. Trump latest move appear to extend di pressure campaign of Operation Economic Fury, wey dem launch for April to sanction foreign banks or firms wey dey do business with Tehran.
For Wednesday evening social media post, Trump say im dey launch ‘economic D-Day’ on Iran because di Islamic Republic fail to make deal with US. ‘ANY country wey allow im financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran go itself face TREMENDOUS Economic Consequences,’ Trump talk. Im no specify wetin punishment countries go face. Trump continue: ‘Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies – E need to stop NOW. You know who you be.’
Di announcement come one day after United Arab Emirates, a US ally, announce say dem go sever all financial and economic ties with Iran, following new missile threat from di country. UAE defence ministry say dem detect two ballistic missiles wey Iran launch targeting maritime traffic, but both of dem land for sea. Iranian entities don long dey use Dubai financial system to transfer money through exchange houses and shell companies.
Following UAE decision, Iran armed forces warn neighbouring Gulf countries against providing support to US military, saying any assistance wey dem give US forces go be considered collusion.
While China no dey named for di post, businesses there be di biggest buyers of oil from Iran, a key source of Tehran funding. Since di war start, Washington don sanction several so-called teapot refineries – privately owned oil processing plants, mostly based for Shandong province, eastern China. At dat time, China Ministry of Commerce say di sanctions dey ‘in violation of international law and di basic norms governing international relations.’ E also issue order stipulating say di sanctions ‘shall not be recognised, enforced, or complied with.’
For addition, Russia dey supply Iran with ammunition, drone components and TNT via Caspian Sea shipping routes, according to NBC News report wey cite European government document verified by Western official. Iran also dey join BRICS-backed New Development Bank, as di governor of Central Bank of Iran, Abdolnaser Hemmati, talk, though di bank no confirm am.
Security analyst Behnam Ben Taleblu, wey be senior director for Foundation for Defense of Democracies, talk say Iran dey look to maximize im enmeshment with countries like Russia and China wey don face US pressure before. E explain say di Islamic Republic dey position itself as ‘linchpin’ between di Axis of Aggressors – Russia, China, North Korea – and di Axis of Resistance – Hamas, Hezbollah, Houthis, and Shiite militias for Iraq.
Di conflict don significantly disrupt traffic through di key Strait of Hormuz shipping route, pushing up global energy prices. Around 20% of di world crude oil and liquified natural gas (LNG) usually pass through di strait. Ahead of US midterm elections for November, Trump face pressure over how much di war dey cost American consumers.
