US President Donald Trump has announced a major new campaign targeting Iran’s economy, warning that any country providing financial or commercial support to Tehran could face “tremendous” economic consequences.
Trump made the announcement on Wednesday as the war approached its sixth month, with no immediate diplomatic or military resolution in sight.
“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,” Trump wrote on Truth Social.
He said countries whose financial institutions, businesses, airports or government entities provide any form of support to Iran would also face economic punishment.
“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,” he said.
Trump did not specify the measures that could be imposed or name any countries that could be targeted.
The announcement came nearly a week after Treasury Secretary Scott Bessent said the United States would impose economic isolation on Iran “like the world has never seen before.”
The intensified pressure campaign comes amid continued tensions over the Strait of Hormuz, a vital global shipping route.
Despite a recent lull in missile strikes, Iran has continued an effective blockade on shipping through the strait following the collapse of a US-Iran agreement aimed at reopening the corridor.
Both sides have said messages were exchanged in recent days. However, Trump insisted on Tuesday that talks were off and posted a social media message suggesting the Strait of Hormuz could become a “NEW U.S. TERRITORY.”
The president is also facing renewed domestic political scrutiny over the war as the November elections draw closer.
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