US President Donald Trump has declared an unprecedented economic pressure campaign against Iran and warned any country conducting business with Tehran will face severe consequences, as a 60-day ceasefire expires.
US President Donald Trump announced on Thursday what he described as "the most crushing economic operation ever taken against any country," targeting Iran and nations that maintain financial or trade relationships with the Islamic Republic. In a statement on Truth Social, Trump characterized the campaign as "Economic D-Day" and "Economic Warfare and Isolation on an unprecedented scale," though he stopped short of naming specific countries or detailing the consequences they would face.
The announcement expands an existing pressure campaign called Operation Economic Fury, which the US Treasury launched in April to sanction foreign banks and companies conducting business with Iran. Trump's statement listed specific activities requiring immediate cessation, including oil smuggling, financial swap arrangements, cash transfers, exchange houses, ship registries, and front companies. He stated that any country allowing its institutions to provide support to Iran would face "TREMENDOUS Economic Consequences," adding cryptically that offending nations "know who they are."
Before the Middle East conflict began in February, Iran maintained significant trade relationships with China, India, Turkey, Germany, South Korea, and Japan. Trump's announcement comes after a 60-day ceasefire agreement expired on Monday, according to reporting from NewsFirst, with little indication of diplomatic resolution. The conflict began in late February when US and Israeli forces conducted joint military operations against Iran, resulting in significant casualties among Iranian leadership.
