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President Trump signals economic warfare against Iran as Eurasian leaders gather for SCO summit

The administration announced a new strategy of economic warfare to punish Iran and its global backers. President Trump signaled a move toward an "economic D-Day" by threatening to impose tremendous economic consequences on any country that provides a lifeline to Tehran. This policy aims to make it clear that the U.S. will no longer tolerate countries that allow their financial institutions, businesses, or government entities to support Iran. Despite these threats, President Trump defended Russia and China for their ongoing business with Iran, noting that the U.S. also engages in similar activities like spying. This stance comes as leaders from China, Russia, and Iran gather in Kyrgyzstan for the Shanghai Cooperation Organization (SCO) summit. The summit serves as a platform for Eurasian leaders to weigh trade, AI, and connectivity while navigating the U.S.-led global order. The SCO seeks to demonstrate a new security bloc that challenges the western-dominated world order, though it faces challenges in establishing concrete mechanisms for action.

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