US President Donald Trump has announced sweeping new economic measures against Iran and any countries supporting it, as a 60-day ceasefire expires without diplomatic progress.
Donald Trump declared he would implement unprecedented economic sanctions against Iran and nations maintaining financial or commercial ties with Tehran. Writing on Truth Social, the US president described the initiative as "the most crushing economic operation ever taken against any country," though he provided limited specifics about which nations might face consequences or the exact nature of the penalties.
The announcement follows the formal expiration of a 60-day ceasefire on Monday without signs of a negotiated settlement to the conflict that began in late February. Trump stated the measures were necessary because Iran had refused to reach an agreement with the United States. The president specified that countries allowing their financial institutions, businesses, airports, or government entities to support Iran would face "tremendous economic consequences," mentioning oil smuggling, cash transfers, and shell companies as activities requiring cessation.
The timing coincides with pressure on Trump ahead of November's midterm elections, with war-related costs affecting American consumers. Shortly before Trump's announcement, the United Arab Emirates—a US ally—severed financial and economic ties with Iran following a ballistic missile threat. Iranian armed forces subsequently warned Gulf states against providing US military support, characterizing such assistance as collusion. China, the primary buyer of Iranian oil, was not explicitly named but appears a likely target of the measures, as Washington has previously sanctioned Chinese refineries processing Iranian crude.
Iran's Foreign Minister Abbas Araghchi dismissed Trump's announcement as a distraction from American economic problems, stating that escalating failed policies would only breed "enmity of Iranians." The measures build on April's "Operation Economic Fury," which included sanctions on foreign financial institutions and a naval blockade targeting Iranian exports. Reports also indicate Trump threatened to bomb Oman if it obstructed US negotiations with Iran regarding the Strait of Hormuz, a critical shipping route carrying approximately 20% of global crude oil and liquefied natural gas.
