US President Donald Trump has declared what he described as 'economic warfare and isolation on an unprecedented scale' against Iran, threatening any country that provides a lifeline to Tehran with 'tremendous economic consequences'.
Trump's Truth Social announcement
In a post on Truth Social on Wednesday, August 19, Trump wrote: 'No one has given the Islamic Republic of Iran a greater opportunity to make a Deal than me. TRAGICALLY, for them, they have failed to take it. Therefore, today, I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!'
He continued: 'This will be Economic Warfare and Isolation on an unprecedented scale. Their navy is gone, their air force is destroyed, their military factories are now rubble, their currency is worthless, and their country is hanging by a thread.'
Background to the conflict
The US and Israel launched coordinated strikes on a number of key Iranian targets on February 28. Iran responded by closing the Strait of Hormuz waterway and launching attacks on US allies throughout the Middle East.
Washington and Tehran have undergone several rounds of unsuccessful negotiations regarding the closure of the Strait of Hormuz, Iran's nuclear weapon capabilities and an end to the conflict. Trump has now opted for an aggressive economic approach in his campaign against the Islamic Republic.
Threats to allies and further measures
'Today, I am also announcing that 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 wrote.
'Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies - It all needs to stop NOW. You know who you are.'
'This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat.'
'These maniacs are on the ropes, and these HISTORIC MEASURES will cripple them and their ability to project terror worldwide.'
Trump concluded: 'IRAN WILL NEVER HAVE A NUCLEAR WEAPON.'
