Trump Announces ‘Most Crushing Economic Operation’ Against Iran

WASHINGTON, Aug 20: US President Donald Trump has announced what he described as the “most crushing economic operation ever taken against any country,” escalating Washington’s campaign to isolate Iran and warning countries and companies that provide economic support to Tehran of severe consequences.

In a post on Truth Social, Trump said Iran had failed to reach a deal with the United States despite what he described as a major opportunity.

“Therefore, 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 said.

Trump said the US would target financial and commercial channels that provide Iran with economic support. He warned that countries allowing their financial institutions, businesses, airports or government entities to provide a “lifeline” to Iran would themselves face “tremendous economic consequences.”

He specifically identified oil smuggling, financial swap lines, cash transfers, exchange houses, ship registries and front companies as channels that Washington wants to shut down.

“It all needs to stop now,” Trump said, describing the campaign as an “Economic D-Day” and urging US allies to join Washington in isolating Iran.

Trump also claimed that Iran’s military capabilities had been severely weakened, saying its navy and air force had been destroyed and that military factories had been reduced to rubble. He further described Iran’s currency as “worthless” and said the country was “hanging by a thread.”

The US president reiterated his position that Iran must not be allowed to obtain a nuclear weapon.

The announcement represents a further escalation of Washington’s economic pressure campaign against Tehran, with Trump threatening secondary consequences for countries and entities that continue doing business with Iran.

Iran’s semi-official Tasnim news agency rejected Trump’s announcement, describing it as a renewed version of Washington’s “failed” maximum-pressure campaign.

Tasnim argued that the US had spent years attempting to restrict Iran’s financial and commercial ties with the outside world, while Tehran had developed ways to circumvent the restrictions.

Iran has repeatedly rejected US pressure and sanctions, setting the stage for further confrontation over trade, energy and financial ties.