Trump threatens 'most crushing' economic warfare, accuses Iran of failing to make deal

US President Donald Trump stated on Wednesday that Iran would be targeted with "the most crushing economic operation ever taken against any country." 

"This will be Economic Warfare and Isolation on an unprecedented scale," Trump posted on Truth Social, accusing Iran of failing to take the opportunity to make a deal.

'Economic D-day'

Trump also ‌warned ⁠of economic consequences against any country that ‌supported ‌Tehran or provided "any ‌type of lifeline ‌to Iran." 

"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.

However, Trump did not specify what punishment countries would face, and none other than Iran were mentioned by name.

Claiming that this will be "an ECONOMIC D-DAY," he urged allies to stand with the United States to "isolate, and defeat, the Iran threat."

US Treasury Secretary Scott Bessent had similarly said last week that the US would soon be ramping up efforts at economically isolating Iran, as part of a two-pronged approach with a US naval blockade.

The intensified economic pressure campaign comes as the war nears its sixth month with no immediate diplomatic or military off-ramp in sight and the vital Strait of Hormuz still significantly choked-off.

Iranian defiance

Iran, meanwhile, has adopted an increasingly defiant stance after months of US military operations failed to bring an end to the conflict.

As the US-Iran confrontation appears to have reached a stalemate, an increasing number of Iranian officials now believe the question is no longer whether Washington will resume large-scale military strikes against Tehran, but when, the Financial Times reported, citing two Iranian sources.

Iranian military officials have also warned that, should a new full-scale conflict erupt, Tehran could broaden the battlefield, according to the newspaper. Rather than limiting its attacks to US military facilities in the Middle East, as well as energy infrastructure and other targets in the Gulf, Iran could potentially target US military facilities in Europe, said the report.

The threat posed by Iranian missiles and drones has already severely curtailed shipping traffic through the Strait of Hormuz, after a proposed framework for a US-Iran agreement to reopen the waterway collapsed.

According to Axios, the US military has quietly established a shipping corridor through the strait to facilitate the movement of millions of barrels of oil each day.

The operation has reportedly been underway for several weeks, with between 15 and 20 oil tankers moving through a southern channel along the coast of Oman each night, according to two US officials cited by the outlet.

However, ship-tracking data from Kpler showed that only nine commodity vessels transited the Strait of Hormuz on Wednesday, unchanged from the previous day.

Separately, Trump on Wednesday suggested that negotiations with Tehran could resume "at some point," saying the situation with Iran was "so good." The comments came just one day after he had insisted that talks were off.

(With input from agencies)