Washington: US President Donald Trump has announced a major expansion of economic pressure on Iran, describing the planned measures as an unprecedented campaign aimed at isolating Tehran and cutting off the financial channels that support its economy.
In a statement on Truth Social, Trump said Iran had failed to seize what he described as a major opportunity to reach an agreement with Washington. He subsequently announced what he called the most severe economic operation ever directed against a country.
Trump said the campaign would focus on what he described as Iran’s economic lifelines, including oil-smuggling operations, money transfers, exchange houses, ship registries and companies allegedly being used to circumvent restrictions.
The US President also issued a warning to countries and organisations that continue providing assistance to Tehran. According to Trump, governments, airports, financial institutions and businesses that offer support to Iran could themselves face significant economic penalties.
Describing the initiative as an “economic D-Day”, Trump called on US allies to join Washington in increasing pressure on Iran. He argued that cutting the country off from international financial and commercial networks would limit its ability to support activities that the US considers a threat.
Trump’s announcement came after he indicated that Washington had additional sanctions options available and could impose further restrictions on Tehran.
The US President also reiterated his longstanding position that Iran must not be permitted to develop nuclear weapons, stating that Tehran would never be allowed to possess one.
Trump’s latest remarks signal a potentially sharper phase of US economic pressure on Iran, with the proposed measures extending beyond Iranian entities to foreign governments and businesses that continue to maintain economic links with Tehran.
