Trump announces 'economic warfare' on Iran, threatens ‘tremendous’ consequences for its backers

President Donald Trump said the U.S. will launch what he called the "most crushing economic operation ever taken against any country" against Iran, threatening severe financial penalties on any nation that helps Tehran evade sanctions. In a Truth Social post, Trump said Iran's navy, air force, and military production facilities have been destroyed and its currency rendered worthless, arguing the regime is "hanging by a thread." He said any country whose financial institutions, businesses, airports, or government entities offer Iran a "lifeline" will face what he described as tremendous economic consequences of their own. The president named oil smuggling, currency swap lines, cash transfers, exchange houses, ship registries and front companies as channels he wants shut down immediately, stressing that Iran will never be permitted to acquire a nuclear weapon. The announcement extends a pressure campaign the Trump administration has waged since April under the banner Operation Economic Fury, a campaign cutting off the regime's global terror financing and revenue streams.