US President Donald Trump has announced a new campaign targeting Iran’s economy, warning that countries assisting Tehran or conducting business with the country could face severe economic consequences.
The move comes as the conflict approaches its sixth month, with no immediate diplomatic or military breakthrough in sight.
Trump is also facing growing political pressure at home over the conflict, with the November elections drawing closer.
“Today, I am announcing the most crippling economic operation ever imposed on any country! This will be Economic Warfare and Isolation on a scale never seen before,” Trump said in a post on his Truth Social platform.
He warned that countries allowing their financial institutions, businesses, airports or government entities to provide any form of assistance to Iran would face what he described as “extraordinary” economic consequences.
However, Trump did not specify what measures would be imposed on countries that assist Iran, nor did he identify any countries other than Iran.
His announcement came nearly a week after US Treasury Secretary Scott Bessent said Washington would impose economic isolation on Iran on a scale the world had never seen before.
Although missile attacks have eased in recent days, Iran continues to impose an effective blockade on shipping through the Strait of Hormuz after US-Iran talks aimed at reopening the crucial maritime route reached an impasse.
Trump said on Monday that negotiations had stalled and, in a social media post, suggested that the Strait of Hormuz could become “NEW US TERRITORY”.
