With the war now at the six-month mark, the Trump administration has stepped up efforts to punish Iran financially with an ‘economic D-Day’
3-MIN READ3-MINReutersPublished: 11:23am, 29 Aug 2026Iranian leaders are acknowledging the economic toll of war with the United States, with the supreme leader calling on the government to address the hardship while the president reported foreign trade has shrunk 35 per cent due to the American sanctions and blockade.The warnings came even as other leaders threaten the US with military retaliation and declarations that the Iranian navy maintains control of the Strait of Hormuz, the strategic waterway giving Iran leverage through its ability to disrupt global energy markets.
Washington has warned countries to cut their business ties with Iran or face secondary sanctions – though the Treasury Department stopped short of imposing penalties against major Iranian trade partners such as China and India, which could have repercussions for the US and global economies.
