Former President Donald Trump has declared that the United States will impose "TREMENDOUS Economic Consequences" on any nation that assists or conducts business with Iran. Trump announced his intentions on the social media platform Truth Social, stating he was initiating "the most crushing economic operation ever taken against any country!" He did not provide specific details or name any countries.
This development follows the expiration of a 60-day ceasefire with Iran on Monday, with no clear diplomatic or military resolution in sight for the conflict that began in late February. Trump's statement appears to be an escalation of the pressure campaign known as Operation Economic Fury, which was launched in April and targets foreign banks or firms engaging in business with Tehran.
Trump referred to his action as "economic D-Day" on Iran, citing the Islamic Republic's failure to reach a deal with the U.S. "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," Trump stated.
He outlined specific areas of concern, including oil smuggling, swap lines, cash transfers, exchange houses, ship registries, and front companies, emphasizing that "It all needs to stop NOW."
These remarks come shortly after Treasury Secretary Scott Bessent stated that the U.S. would implement an economic isolation against Iran on an unprecedented global scale. The White House and the U.S. Treasury Department have been contacted for comment.