Donald Trump has declared an “Economic D-Day” against Iran, threatening sanctions on any nation offering a lifeline to the Middle Eastern country.

“ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences”, the US president warned on Truth Social Wednesday. “Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW. You know who you are”.

“This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat”, Trump added.

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.

“Nothing is hidden from our eyes”, Iran’s army chief Ali Abdollahi said, adding, “We warn: Any assistance and facilitation to the aggressive US army is tantamount to participation with the US military forces”.

The UAE defense ministry said the missiles targeted "maritime traffic" based on its assessments. Both missiles fell into the sea, it said.

Australia summons Israeli ambassador over Gaza aid worker death

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 steady as investors assess US-Iran war outlook

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.

US reporter calls Trump's latest threats 'not practical'

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”.

“Trump is calling for every nation and business to cease economic ties with Iran. It’s not practical on Trump’s quick timeline and would be immensely hard to monitor”, Ward wrote on X.

“But further confirmation that Trump, for now, is choosing economic over military pressure”, he added.

Watch: Trump says Strait of Hormuz remains open despite ‘effective’ naval blockade

Read Trump's full Truth Social post about new economic pressure on Iran

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.

*Read the US president’s full Truth Social post: *

“No one has given the Islamic Republic of Iran a greater opportunity to make a Deal than me. TRAGICALLY, for them, they have failed to take it. Therefore, today, I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!

“This will be Economic Warfare and Isolation on an unprecedented scale. Their navy is gone, their air force is destroyed, their military factories are now rubble, their currency is worthless, and their country is hanging by a thread.

“Today, I am also announcing that ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences.

“Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW. You know who you are.

“This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat.

“These maniacs are on the ropes, and these HISTORIC MEASURES will cripple them and their ability to project terror worldwide. IRAN WILL NEVER HAVE A NUCLEAR WEAPON. THANK YOU FOR YOUR ATTENTION TO THIS MATTER.”

Watch: Trump unveils White House helipad as he obsesses over renovations amid Iran war: 'I love construction'

Iraqi parliament speaker asks Iranian counterpart for special status on Hormuz oil exports

Iraq's parliament speaker Haibat al-Halbousi called for special status for Iraqi oil exports through the Strait of Hormuz during talks with his Iranian counterpart Mohammad Baqer Qalibaf in Baghdad on Wednesday, his office said in a statement, without providing further details.

Israeli military announces criminal investigation into killing of Palestinian girl Hind Rajab in Gaza

The Israeli military has confirmed for the first time that it fired on a car carrying five-year-old Hind Rajab and her family.

It also announced that it has launched an investigation into her killing in a statement on Wednesday.

A separate probe will investigate the killing of 15 Palestinian paramedics in Gaza in May 2025, but the military said it would not launch an inquiry into three other high-profile attacks that killed aid workers from World Central Kitchen and Doctors Without Borders.

Trump threatens 'tremendous economic consequences' for any nation that helps Iran financially

Donald Trump has threatened “tremendous economic consequences” for any nation that helps Iran financially as the war drags on.

“ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences”, the US president wrote on Truth Social Wednesday.

“Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW. You know who you are”, he added.

Iran war inflation continues to impact prices in UK, chancellor says

In response to the UK’s latest inflation figures, published on Wednesday, chancellor John Healey said: “Iran war inflation continues to impact prices here at home, but Britain’s economy is resilient.

“We have cut VAT on electricity bills and capped bus fares at £2 – to give breathing space to those feeling the strain.

“There is more to do to restore hope and build a stronger economy where prosperity is shared more fairly across Britain.”