President Trump has threatened Iran’s autocratic leaders over the killing of protestors while suggesting he was preparing to intervene with military action in the country,
In a post on Truth Social, Trump said the country’s authorities “will pay a big price” over the killing of protestors following unrest in the country.
He added that he had cancelled meetings with Iranian officials before writing in the statement: “HELP IS ON ITS WAY”.
Thousands of protestors are feared to have died, with an Iranian security official reportedly stating that the death toll stood at around 2,000 people in a figure which included government personnel.
People in the country have also had to grapple with a nationwide blackout over several days in the midst of mass protests against Ali Khamenei, the Ayotallah, the supreme leader of the country.
Trump’s comments follow an announcement to impose a 25 per cent tariffs on goods which retain commercial ties with Iran, which could hit the likes of China, India and Turkey.
Iranian officials had meanwhile prepared to open talks with the Trump administration in recent days.
The UK government has not commented on intentions to intervene with military action in the country, but issued a joint statement with France and Germany condemning the killing of protestors and limits on freedoms to protest.
The Prime Minister’s spokesman also said calls to proscribe the Islamic Revolutionary Guard Corps (IRGC), an ideological branch of Iran’s armed forces, were not “appropriate for a foreign state organisation”.
Trump’s impact on oil market
Economists will be closely watching out for developments in Iran and threat of a increased turmoil in the Middle East.
The Brent crude oil barrel price rose by 3 per cent on reports of attacks on oil tankers in the Black Sea and Trump’s new tariff threats.
Capital Economics analysts said the threat of disruption in Iran was a “bigger threat to global supplies than Venezuela”.
“US military action would escalate the current situation, which is mainly domestic in nature,” a recent report by the economics consultancy said.
“This could result in Iranian attempts to block the Strait of Hormuz or attacks by Iran’s proxies such as the Houthis on neighbouring oil producers in a worst-case scenario that would lead to oil prices spiking.
“For context, a complete loss of Iranian exports could feasibly halve the scale of the oil market surplus we forecast in 2026.”