Global
Iranian Foreign Minister Abbas Araqchi stated on Thursday that the economic campaign threatened by US President Donald Trump against Iran is merely an attempt to divert attention from America's internal economic problems and challenges. Araqchi warned that any additional pressure on his country is doomed to fail. President Trump had previously announced his intent to launch what he termed the "strongest crushing economic operation" against any nation, aiming to impose complete economic isolation on the Islamic Republic of Iran. In a post on the "X" social media platform, Araqchi asserted that "what is called 'Economic Victory Day' is actually just a distraction from America's own crisis: unprecedented debts and continuously rising interest costs." The Iranian minister added that "adhering to failed policies will only bring more defeats and increased hostility from the Iranian people." Thousands have died as a result of the war, which expanded to include several countries in the Arabian Gulf region, causing widespread international concern. Global markets were severely impacted after Iran demonstrated a notable ability to control navigation through the strategic Strait of Hormuz, where roughly a fifth of global oil trade passed before the military conflict began in late February. The United States and Iran had twice announced ceasefire agreements, in April and June, primarily aiming to restore the free flow of navigation through the Strait of Hormuz to pre-war levels and move towards ending the prolonged conflict. However, these agreements quickly collapsed, even with Israel largely withdrawing from the ongoing battles. President Trump actively seeks to confiscate Iran's highly enriched uranium stockpile and aims for a new agreement with more stringent and comprehensive restrictions on Iran's nuclear program. This new deal would replace the 2018 agreement from which the United States unilaterally withdrew. Iran, a signatory to the Nuclear Non-Proliferation Treaty, has consistently maintained for decades that its nuclear programs are exclusively for peaceful purposes and lack any military dimensions.
