Trump announces ‘most crushing’ economic operation against Iran

In his announcement, President Trump did not specify what exact measures would be taken against countries that continue to engage with Iran, nor did he name any particular nations that were being targeted with the warning.

In his statement, President Trump claimed that Iran’s navy had been “eliminated,” its air force “destroyed,” and its military factories “reduced to rubble.” He described the Iranian currency as “worthless” and the country as “hanging by a thread.”

Urging US allies to support the effort, he called the new measures an “Economic D-Day” and reiterated his position that “IRAN WILL NEVER HAVE A NUCLEAR WEAPON.”

In response, Iranian media dismissed the threats. The semi-official Tasnim news agency described the measures as another version of Washington’s failed “maximum pressure” campaign and Trump’s rhetoric as “grand, exaggerated language.” The Fars news agency called the US president's claims “delusional.”

United States President Donald Trump announced his new economic measures against Iran on his social media platform, Truth Social, describing them as the "MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!".

He specified several activities that he said must stop immediately, including "oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies".

The move comes nearly six months into a conflict that began on February 28 with US-Israeli attacks on Iran, which has severely disrupted shipping in the Strait of Hormuz. Two previous ceasefire agreements in April and June have collapsed.

The US Treasury has been conducting a campaign dubbed "Operation Economic Fury" to cut off Iran's funding. Last week, Treasury Secretary Scott Bessent said the US would ramp up efforts for economic isolation as part of a two-pronged approach with a US naval blockade.

In response to the developments, Mohammad Mokhber, an adviser to Iran's supreme leader, stated that Iran remains open to dialogue but does not confuse negotiations with surrender.