Trump warns of economic penalties for countries backing Iran

United States President Donald Trump announced on Wednesday that his administration is launching an unprecedented campaign of economic warfare against Iran, threatening severe consequences for any country that continues to do business with Tehran. The announcement marks a significant escalation in economic pressure amid a grinding conflict now in its sixth month.

In a post on Truth Social, Trump declared he was initiating the "most crushing economic operation ever taken against any country," describing it as "economic warfare and isolation on an unprecedented scale." He asserted that Iran's military capabilities have been decimated and its economy is failing, stating its navy is gone, air force destroyed, and currency worthless. The president framed the action as a necessary step after Iran failed to reach a deal during prior negotiations.

The new measures extend an existing pressure campaign and explicitly target third-party nations. Trump warned that any country allowing its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran would face "tremendous economic consequences." He specifically named oil smuggling, financial...