US President Donald Trump has said he will launch tougher economic measures against Iran, as well as any country and that helps or does business with the country.
He wrote in all capital letters on Truth Social that he was launching “the most crushing economic operation ever taken against any country”, but gave no further details and did not name any other nation apart from Iran.
It comes after a 60-day ceasefire with Iran expired on Monday, with no sign of a diplomatic or military off-ramp to the conflict that the US and Israel began at the end of February.
Trump’s latest move appears to extend the US campaign of economic pressure, launched in April to sanction foreign banks or firms that do business with Tehran.
In Wednesday evening’s social media post, Trump said he was launching “economic D-Day” on Iran because it had failed to make a deal with the US.
“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 said.
He did not specify what punishment countries might face.
Trump continued: “Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies – It all needs to stop NOW. You know who you are.”
It comes a day after the United Arab Emirates, a US ally, announced it would be severing all financial and economic ties with Iran, following a new missile threat from the country.
The UAE’s defence ministry said it had detected two ballistic missiles launched from Iran targeting maritime traffic, both of which landed in the sea.
Iranian entities have long used Dubai’s financial system to transfer money through exchange houses and shell companies.
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