US President Donald Trump has declared what he described as “economic warfare” against Iran, warning countries, businesses and financial institutions that provide Tehran with an economic lifeline that they will face severe consequences from Washington.

Trump made the announcement on August 20, 2026, in a post on Truth Social, his social media platform, as the nearly seven-month-old war between the United States, Israel and Iran continues to disrupt energy markets and deepen economic pressure across the Middle East.

The latest escalation in Washington’s economic pressure comes after months of fighting in which Iran has continued to inflict damage on US military assets and bases and attack US allies across the Middle East.

Reiterating his usual claim that Iran’s military capabilities have been severely degraded, Trump said Iran’s “navy is gone,” its “air force is destroyed” and its “military factories are now rubble.”

He then announced what he described as the “MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY”, saying the new campaign would amount to economic warfare and isolation of Iran “on an unprecedented scale.”
Trump warned that Washington would extend the pressure beyond Iran to countries and entities that continue to provide economic support to Tehran.

“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 said.
He specifically identified oil smuggling, financial swap arrangements, cash transfers, exchange houses, ship registries and front companies as activities that Washington wants stopped.

“Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW. You know who you are,” Trump said.
He also called on US allies to support the economic isolation of Iran, describing the campaign as an “ECONOMIC D-DAY”.

“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,” Trump said.

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