Trump threatens harsh economic consequences on countries aiding Iran

US President Donald Trump announced on Truth Social on Wednesday evening that any country aiding or trading with Iran would face what he called "the most crushing economic operation ever taken against any country." He offered no specifics and did not name any particular nation.

The warning follows the expiry on Monday of a 60-day ceasefire with Iran, with no diplomatic or military resolution in sight to the conflict the US and Israel launched in late February. Trump said he was beginning an "economic D-Day" against Iran because the country had failed to reach a deal with Washington.

Warning to all nations

Trump wrote that any country allowing its financial institutions, businesses, airports or government bodies to provide any form of support to Iran would itself face severe economic consequences. He listed several practices that must stop immediately, including oil smuggling, currency swap lines, cash transfers, exchange houses and ship registries.

The announcement extends the pressure campaign begun in April under Operation Economic Fury, which sanctions foreign banks and companies doing business with Tehran.

UAE cuts ties, Iran warns Gulf neighbours

A day earlier, US ally the United Arab Emirates announced it was severing all financial and economic ties with Iran after a fresh missile threat — two ballistic missiles launched from Iran toward maritime traffic landed in the sea. Iranian entities have long used Dubai's financial system to move money through exchange houses and shell companies.

Following the UAE's move, Iran's armed forces warned Gulf neighbours against supporting US military forces, saying such assistance would be treated as collusion. Days earlier, Treasury Secretary Scott Bessent said the US would impose economic isolation on Iran "like the world has never seen before." Trump was also reported this week to have threatened to bomb ally Oman if it "gets in the way" of talks with Iran.