US President Donald Trump has announced a sweeping new economic warfare against Iran. In a post on Truth Social, Trump said Iran was given several opportunities to reach a deal with the United States but failed to do so. He said Washington will now launch an unprecedented campaign of economic warfare and isolation against Tehran.
Trump also threatened economic punishment for any country helping Tehran. He warned that any country allowing its financial institutions, businesses, airports or government agencies to provide support to Tehran will also face tremendous economic consequences.
The measures are expected to focus on Iran’s key economic lifelines, including oil-smuggling networks, financial transfers, exchange houses, ship registries and front companies.
He urged US allies to join Washington in isolating Iran, calling the new measures an economic D-Day. Trump said the campaign is aimed at weakening Iran’s ability to finance and support activities abroad. Trump also repeated his warning that Iran will never be allowed to acquire a nuclear weapon.
The announcement came amid rising tensions between the US and Iran over the Strait of Hormuz, a crucial route for global oil shipments. Trump said the waterway remains open and claimed that the US naval blockade has been highly effective.
Trump’s latest comments came after earlier indications that negotiations with Iran has been paused. He said talks can resume in the future but suggested that Tehran must first be ready to make a deal.
Meanwhile, Iranian Parliament Speaker Mohammad Bagher Ghalibaf said Iran will not reopen the Strait of Hormuz until the United States fulfill its commitments under a 14-point memorandum. These conditions include lifting the blockade, releasing frozen Iranian assets and easing sanctions on Iranian oil.
