Trump declares economic war on Iran

Meanwhile, the Economic Times daily newspaper is available online now.

Key points

• Trump Iran Economic SanctionsIran Nuclear ThreatEconomic Warfare IranIran Economic IsolationStrait of Hormuz Conflict.
• Trump declares 'Economic D-Day' against Iran, warns nations aiding Tehran of 'tremendous' consequences.
• President Trump confirmed a severe economic operation targeting Iran's financial lifelines.
• Today, I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!
• Trump remarked Tehran had squandered repeated chances at diplomacy.

Trump declares 'Economic D-Day' against Iran, warns nations aiding Tehran of 'tremendous' consequences. ET OnlineLast Updated: Aug 20, 2026, 06: 08: 00 AM IST.

President Trump confirmed a severe economic operation targeting Iran's financial lifelines. He cautioned any nation aiding Iran would face significant economic consequences. This campaign intends to isolate Iran and halt its global terror projection. The conflict with Iran nears its sixth month without resolution. Washington possesses further sanctions options if needed.

US President Donald Trump on Wednesday confirmed what he called the "most crushing economic operation ever taken against any country, " warning any nation that offers Iran a financial lifeline will face severe consequences of its own. "Today, I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY! This will be Economic Warfare and Isolation on an unprecedented scale, " Trump wrote on Truth Social.: From hammering Iran to strangling them: Donald Trump has a new approach in Middle East war.

Trump remarked Tehran had squandered repeated chances at diplomacy. "No one has given the Islamic Republic of Iran a greater opportunity to make a Deal than me, " he wrote, adding that Iran had "TRAGICALLY" failed to take it. He asserted Iran's navy has been destroyed, its air force wiped out, its military factories reduced to rubble, and its currency rendered worthless, saying the country is "hanging by a thread." Warning to third countries Live Events.

Trump remarked the new measures would extend beyond Iran itself. "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, " he wrote, without naming any specific country. He listed a range of practices he wants halted immediately: oil smuggling, currency swap lines, cash transfers, exchange houses, ship registries and front firms. "It all needs to stop NOW. You know who you are, " he wrote. Describing the campaign as an "ECONOMIC D-DAY, " Trump called on US allies to join the effort. "We need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat, " he wrote, adding that these "HISTORIC MEASURES" would cripple Iran's ability "to project terror worldwide." He reiterated, "IRAN WILL NEVER HAVE A NUCLEAR WEAPON." Conflict nears sixth month The announcement comes as the US-Israel conflict with Iran. It began in February with joint strikes on key Iranian sites, approaches its sixth month with no diplomatic or military resolution in sight. Iran retaliated by closing the Strait of Hormuz and striking US allies throughout the Middle East. In practice, a ceasefire and a subsequent memorandum of understanding between Washington and Tehran had briefly eased tensions earlier in the summer, but the truce unravelled after Iran began targeting cargo vessels in the strait. Trump remarked earlier this week that negotiations with Iran were no longer active, and separately suggested on social media that the strait could become a "NEW U.S. Territory." The fresh sanctions push follows a warning last week from Treasury Secretary Scott Bessent, who said Washington would impose economic isolation on Iran "like the world has never seen before." Asked regarding further measures, Trump stated Washington still had options in reserve. While additionally claiming the naval blockade in the Strait of Hormuz had been "extremely effective, " with vessels continuing to move through the waterway, "We have very draconian sanctions, and we'll see what happens, " he remarked. Trump additionally faces renewed domestic scrutiny over the prolonged conflict, with the November midterm elections approaching. Add Now!

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