US President Donald Trump said on Wednesday that he is launching a major new campaign targeting Iran’s economy, warning that any country doing business with or assisting the Islamic republic would face severe punishment.
The escalation in economic pressure comes as the war approaches its sixth month with no diplomatic or military resolution in sight, and as Trump faces renewed domestic political scrutiny with November elections approaching.
“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 added that any country allowing its financial institutions, businesses, airports, or government entities to provide Iran with a lifeline would itself face “tremendous” economic consequences. He did not specify what these consequences would be, and no countries other than Iran were named.
The announcement follows comments made nearly a week earlier by Treasury Secretary Scott Bessent, who said the US would impose economic isolation on Iran “like the world has never seen before.”
Despite a recent lull in missile strikes, Iran has continued to enforce an effective blockade on shipping through the Strait of Hormuz, after a US-Iran deal to reopen the corridor collapsed. Both sides have said messages were being exchanged in recent days, though Trump on Tuesday insisted talks were off, suggesting instead that the strait could become a “NEW U.S. Territory.”
