Donald Trump has declared an “Economic D-Day” against Iran, threatening sanctions on any nation offering a lifeline to the Middle Eastern country. Meanwhile, Iran has threatened to target any Gulf states assisting the US in the conflict, after the United Arab Emirates accused Tehran of launching two ballistic missiles in the first such incident since May. The UAE defense ministry said the missiles targeted "maritime traffic" based on its assessments.
Both missiles fell into the sea, it said. Iraqi Airways has resued flights to Iran after a suspension since the beginning of the US and Israel's war on Iran, which prompted the closure of Iranian and Iraqi airspace. The airline began operating nine weekly flights to Rasht yesterday after receiving approval from Iranian authorities, Iran’s Civil Aviation Organization said.
Flights to Tehran and Mashhad will resume next week, according to officials. Australia summoned Israel's ambassador and expressed outrage at a decision by its military not to pursue criminal proceedings over the death of an Australian aid worker in a 2024 airstrike in Gaza. The Israeli military said it had found no basis to investigate the killings of seven aid workers with the World Central Kitchen charity, including Australian Zomi Frankcom, after a fact-finding and assessment procedure.
"This decision falls far short of the accountability we expect," foreign minister Penny Wong said, adding that Australia was outraged by the decision. "Democracies seek and accept higher standards. The Australian government will not stop pressing Israel for justice for Zomi and her colleagues." Oil prices steadied in early trade this morning as investors assessed the outlook for the US-Iran war and the security of shipping through the Strait of Hormuz.
Brent crude futures for October delivery rose 25 cents, or 0.3 per cent, to $91.87 a barrel, while US West Texas Intermediate crude futures for September slipped 2 cents to $85.81 a barrel. The more active October WTI contract gained 14 cents, or 0.2 per cent, to $84.53. Alex Ward, a national security reporter for The Wall Street Journal, called Donald Trump’s new economic threats against Iran and countries that give them a lifeline “not practical”.
The US president warned that any nation that financially helps Tehran will face “TREMENDOUS Economic Consequences”. It’s not practical on Trump’s quick timeline and would be immensely hard to monitor”, Ward wrote on X. Donald Trump has issued a new threat to any nation that helps Iran financially, putting more economic pressure on the Middle Eastern country as the war drags on for more than five months.
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