Trump announces ‘crushing economic operation’ against Iran
The US president has threatened severe retaliation against countries that help Tehran
U.S. President Donald Trump, frustrated by stalled diplomatic efforts to end the war with Iran, had hinted that he would shift the conflict onto the economic front. On Wednesday, he did just that, announcing a new economic offensive against the Islamic Republic that he described as the most consequential action ever taken against a country. The aim is to cut off the sources of financing and economic support that have helped Tehran stay afloat.
“I am announcing the most crushing economic operation ever taken against any country,” the president wrote on his social media platform, Truth Social. “This will be economic warfare and isolation on an unprecedented scale.” In the post, he threatened “tremendous economic consequences” for any country whose financial institutions, companies, airports, or government entities provide “any type of lifeline to Iran.”
“Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies: it all needs to stop now,” the post continued. “This will be an economic D-Day.”
Trump also called on allied countries to support the initiative. “We need all our allies to stand with the United States of America to isolate and defeat the Iran threat,” he said, before describing Iran’s leaders as “maniacs” and claiming they were “on the ropes.” “These historic measures will cripple them and their ability to project terror worldwide,” he added.
The U.S. president said on Tuesday, in another social media post, that there were currently no negotiations underway with Iran and none planned for the foreseeable future. His statement came a day after the deadline the two adversaries had set in June for reaching a permanent peace agreement expired. In an interview with Fox News that same day, Trump said he was “not in a hurry” to reach a deal with Tehran.
On Tuesday, Trump also posted an image on social media depicting the Strait of Hormuz, the strategic waterway that has become central to the conflict, as “new U.S. territory.” According to Trump, conditions in the area are “very good,” and commercial vessels are able to pass through despite Iran’s blockade. However, the volume of trade making its way through the chokepoint is only a fraction of what it was before the war began on February 28, when roughly 20% of the world’s oil and gas supplies passed through the corridor.
The United States continues to enforce its own blockade on Iranian ports, which Trump says is inflicting serious damage on Iran’s economy. Yet despite the president’s assertions that Tehran is eager to strike a deal, the Islamic Republic has shown no sign of yielding. It remains unclear how effective the newly announced measures will be or whether they will significantly weaken Iran’s resolve.
Trump’s announcement came one day after the United Arab Emirates, one of Iran’s main trading partners, announced the suspension of trade and financial dealings with its neighbor after blaming Tehran for launching two ballistic missiles at Emirati territory. The Islamic Republic denies responsibility for the attack.
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