Donald Trump has threatened tougher economic pressure on Iran and any country that helps or does business with Tehran.
The US president wrote in capital letters on Truth Social that he was launching “the most crushing economic operation ever taken against any country”, without providing further details or naming any country other than Iran.
The warning came after a 60-day ceasefire formally expired on Monday without signs of a diplomatic settlement to the war launched by the US and Israel at the end of February. Tehran said the threat would only fuel further animosity.
Trump warns Iran’s economic partners
If implemented, the measures would expand Washington’s campaign of economic pressure on Iran, which aims to force Tehran into submission.
The US imposed a wave of sanctions on foreign banks and companies doing business with Iran in April, after it became clear that military action had not resulted in the overthrow of the regime in Tehran or its surrender, as Trump had initially hoped.
At the same time, Iran has managed to restrict maritime traffic through the Strait of Hormuz since the start of the war, contributing to higher global energy prices.
Trump is also facing pressure ahead of the US midterm elections in November over the cost of the conflict to American consumers.
On Wednesday evening, he described the new campaign as “economic D-Day” against Iran, saying Tehran had failed to reach a deal with Washington.
“ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences,” Trump said.
He did not specify what penalties those countries could face.
He also called for an end to oil smuggling, swap lines, cash transfers, exchange houses, ship registries and front companies linked to Iran.
UAE cuts financial and economic ties
Trump’s warning came a day after the United Arab Emirates announced that it would sever all financial and economic ties with Iran following a new missile threat.
The UAE’s Defence Ministry said it had detected two ballistic missiles launched from Iran towards maritime traffic. Both missiles landed in the sea.
Iranian entities have long used Dubai’s financial system to transfer funds through exchange houses and shell companies.
Following the UAE’s decision, Iran’s armed forces warned neighbouring Gulf states against supporting the US military, saying any such assistance would be considered collusion.
China remains a key economic link
Although China was not named by Trump, Chinese businesses are the biggest buyers of Iranian oil, which remains a key source of revenue for Tehran.
Since the beginning of the war, Washington has sanctioned several so-called “teapot refineries” – privately owned oil-processing plants, most of them based in China’s Shandong province.
China’s Ministry of Commerce previously condemned the sanctions as violating international law and the basic norms governing international relations, saying they would not be recognised, enforced or complied with.
Iranian Foreign Minister Abbas Araghchi described Trump’s latest threat as a “diversion” from US economic problems.
“Doubling down on failed policies will only bring further defeat – and enmity of Iranians,” he wrote on X.
Washington seeks wider economic isolation
Operation Economic Fury, announced by the US Treasury Department and Pentagon in April, aimed to weaken Tehran’s warfighting capability by cutting off its revenue streams. It also included a naval blockade intended to stop Iranian exports.
US Treasury Secretary Scott Bessent said last week that Washington would soon impose economic isolation on Iran “like the world has never seen before”.
Trump has also reportedly threatened to bomb Oman, a US ally, if it “gets in the way” of his administration’s talks with Iran.
The US and Oman have been negotiating separately with Tehran over reopening the Strait of Hormuz, a vital trade route through which around 20% of the world’s crude oil and liquefied natural gas normally passes.
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