Trump announces sweeping economic operation against Iran, threatening nations that aid Tehran
President Donald Trump announced on Wednesday what he described as the "most crushing economic operation ever taken against any country," targeting Iran with financial isolation and threatening economic consequences for any nation providing assistance to Tehran. Trump posted the announcement on Truth Social, warning that countries allowing their financial institutions, businesses, airports, or government entities to offer Iran "any type of lifeline" would face "tremendous economic consequences." Global oil prices rose more than 2% following the announcement, with Brent crude reaching nearly $94 a barrel.
Two sources · Thin corroboration
Trump's Truth Social post described the operation as an "economic D-Day," listing specific financial channels he said must be shut down immediately: "Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies." He called on US allies to stand with the United States to "isolate, and defeat, the Iran threat," and stated that Iran's navy and air force have been destroyed and its production facilities reduced to "rubble."
The announcement came as the deadline for US-Iran peace negotiations formally expired on Monday, following weeks of deteriorating relations and resumed fighting. Earlier on Wednesday, Trump told reporters the situation with Iran "was so good" and said talks could resume "maybe at some point," before later posting the economic operation announcement. CNN reported that Trump had also told administration envoys earlier in the week to halt their conversations with Iran.
Iranian officials responded dismissively. Foreign Minister Abbas Araghchi called Trump's threat a "diversion," saying it "will only bring further defeat" and characterizing it as "US economic terrorism" that "threatens global economy and sovereignty worldwide." Deputy Foreign Minister Kazem Gharibabadi said US decision-making was based on "flawed calculations" and that Washington had "given their next failure a new name: 'economic war.'"