US-Iran War Live Updates: Araghchi calls out US ‘economic terrorism’ after Trump’s threat to choke economy
Follow the latest on West Asia war as Washington widens pressure on Tehran, tensions rise across the Gulf and uncertainty over shipping and energy supplies keeps oil markets on edge.
US-Iran War Live Updates: US President Donald Trump has announced what he called the “most crushing economic operation ever taken against any country”, declaring economic warfare and unprecedented isolation against Iran. Trump also threatened “tremendous economic consequences” for countries whose banks, businesses, airports or government entities provide Tehran with financial or commercial support.
The escalation came days after US warned of unprecedented sanctions on Iran.
At the same time, the United Arab Emirates suspended all financial and economic transactions with Iran after saying it detected two Iranian ballistic missiles targeting maritime traffic. Both missiles fell into the sea, according to the UAE, while Iran dismissed the allegation as “baseless”.
Oil prices rose for a fourth consecutive session on Thursday as markets assessed the expanding US campaign against Iran. Brent crude traded below $92 a barrel after gaining more than 5% over the previous four sessions, while WTI hovered near $84.
Follow our live coverage for the latest developments in the US-Iran war, sanctions, regional tensions, and more.