US-Iran conflict: Trump threatens new Iran economic crackdown

The Middle East war enters another tense day as Washington steps up pressure on Tehran and uncertainty continues over the Strait of Hormuz. US President Donald Trump has threatened Iran with what he called an “economic D-Day”, warning of a sweeping new economic campaign against Tehran and consequences for countries or businesses that continue to support it. The warning comes as efforts to find a diplomatic way out of the conflict remain stalled. Iran’s military has meanwhile warned Gulf countries against helping US forces, saying states that allow their territory, airspace or waters to be used against Iran could face retaliation. The Strait of Hormuz remains a major source of uncertainty. Reuters reported on Thursday that many shipowners continue to avoid the waterway, despite Washington saying it is open, while Tehran maintains that it is blocked. Brent crude was trading around $91.87 a barrel in early Asian trading. Elsewhere, fresh Israeli strikes in Gaza have further complicated efforts to advance a ceasefire, with at least 17 Palestinians killed over two days, according to Gaza health officials. Follow our live coverage for the latest developments from across the region.