Trump announces sweeping economic campaign against Iran

US President Donald Trump has announced the start of a large-scale economic campaign designed to isolate Iran internationally. The statement was posted on his Truth Social account.

Trump said he had offered Iran a greater chance to reach a deal than anyone else, but the country failed to take advantage of it. As a result, he said, the United States is launching what he described as the most destructive economic operation ever conducted against any nation — measures he characterized as economic warfare and isolation of unprecedented scale.

Warning to other countries

Trump added that any country allowing its financial institutions, businesses, airports or government bodies to support Iran would itself face massive economic consequences. He said practices used to evade restrictions — oil smuggling, currency swap lines, money transfers, exchange points, ship registries and shell companies — must stop immediately.

He also called on US allies to join in isolating and defeating what he called the Iranian threat, describing the new measures as an economic "D-Day."

Background

The announcement follows a dispute over control of the Strait of Hormuz, a key shipping route. On August 12, Trump claimed US forces had cleared the strait of mines and fully controlled it. Iran's central military command denied his claims.