Iran’s foreign minister has dismissed recent threats made by U.S. President Donald Trump, who declared his intention to execute the “MOST CRUSHING ECONOMIC OPERATION EVER TAKEN” against Iran. Abbas Araghchi stated on X that Trump’s proposed “Economic D-Day” is a distraction from America’s own financial challenges, highlighting the country’s soaring debt and interest costs. Araghchi emphasized that persisting with unsuccessful policies would lead to further defeat and animosity from Iranians, warning that U.S. economic tactics pose a threat to the global economy and sovereignty worldwide.
Trump’s announcement of launching “Economic Warfare and Isolation on an unprecedented scale” against Iran came a day before Araghchi’s response. The U.S. president’s Truth Social post cautioned nations about facing “TREMENDOUS Economic Consequences” if they extend support to Iran. Trump urged all U.S. allies to join in isolating and defeating the perceived Iranian threat, without specifying targeted countries or outlining the exact measures to be taken.
China plays a significant role in Iran’s oil trade, purchasing over 80% of the country’s shipped oil as per data from analytics firm Kpler. However, engaging in further economic conflict with China raises the risk of retaliation. Chinese Foreign Ministry spokesperson Lin Jian, in a press briefing, stressed that sanctions and pressure tactics are not the solution, calling for responsible actions and adherence to political and diplomatic approaches.
U.S. Treasury Secretary Scott Bessent suggested that focusing on economic strategies could lessen the necessity for large-scale military actions against Tehran. Following the U.S. threats of financial repercussions to end the prolonged conflict, oil prices surged to their highest level in over three weeks. Dan Shapiro, a former U.S. ambassador to Israel and a distinguished fellow at the Atlantic Council, criticized Trump’s approach, stating that Iran possesses the capability to withstand and retaliate against U.S. actions, impacting global economies.
Iran has endured severe economic sanctions for years, particularly under the Trump administration’s restrictions imposed since the conflict began in February. Despite thousands of casualties in the war, efforts to secure a lasting peace agreement have stumbled. The recent 60-day negotiation period between the U.S. and Iran ended without progress, leaving both sides seemingly distant from a resolution. Trump hinted at the possibility of resuming talks in the future, as reported by U.S. media outlets.