United States President Donald Trump said on Wednesday that he is starting a new campaign to target Iran’s economy. He is warning that any country that helps Iran or does business with Iran will face severe punishment.
The United States is putting a lot of pressure on Iran’s economy. This is happening when the war is six months old, and there is no clear way to end it soon. The Strait of Hormuz is still mostly closed off, which is a problem.
The elections in November are coming up fast. United States President Donald Trump is also facing criticism at home about how much the war’s costing people in the United States and how it is affecting the military.
United States President Donald Trump wrote on Truth Social, “Today I am announcing an economic operation against Iran. This operation will be very big. Will hurt Iran’s economy a lot. Iran will be isolated from the rest of the world. Will face economic problems like never before.”
“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,” he said.
He did not clarify what specific measures or penalties could be imposed on such countries, and no country other than Iran was directly named.
He identified several activities that he said must be halted immediately, including: “oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies”.
Treasury Secretary Scott Bessent also warned last week that the United States would soon intensify efforts to economically isolate Iran. He described this as part of a two-pronged strategy involving a US naval blockade.
“It will be a combination of economic isolation, as the world has never seen before,” Bessent told conservative television network Newsmax.
For several months, the US Treasury has been conducting Operation Economic Fury, a campaign aimed at disrupting Iran’s financial resources through targeted sanctions.
Meanwhile, Iranian Foreign Minister Abbas Araghchi said on Thursday that the US “Economic D-Day” campaign against Iran was intended to divert attention from America’s own economic difficulties. He warned that increasing pressure on Tehran would not succeed.
“Doubling down on failed policies will only bring further defeat—and enmity of Iranians. US economic terrorism threatens global economy and sovereignty worldwide,” he said.
Iranian defiance
Iran has taken a determined stance. It has survived months of US actions that did not end the war in a clear way. According to reports from US media, the US has used up a lot of its ammunition supplies. The US Defense Department has denied these reports.
The fighting started on February 28 when the US and Israel attacked Iran. In response, Iran launched missile and drone attacks across the region.
Iran’s missile and drone attacks have greatly reduced the number of ships passing through the Strait. A planned US-Iran agreement to open the Strait again has failed.
Earlier on Wednesday, Trump praised the US efforts to help ships leave the Strait. He said, “Now a lot of boats are coming through.”
A digital news website called Axios reported that US forces are helping 15 to 20 ships move in and out of the Hormuz each night. These ships are carrying about half the oil shipments that were there before the war.
In recent days, both sides have said they are trying to communicate. However, Trump on Tuesday said the talks were not happening. He posted a message on social media saying the Strait could become a “NEW US Territory.”
On Tuesday, the United Arab Emirates announced it was stopping all activities with Iran. The UAE said it had been hit by two missiles.
The countries around the Gulf have cultural and historical connections. The UAE has an Iranian community. It had been a trade partner for Iran even though Iran was under US sanctions, before the war.
“We need all of our Allies to stand with the United States of America to isolate and defeat the Iran threat ” Trump said on Wednesday on Truth Social.
