WASHINGTON (dpa-AFX) - President Donald Trump has said he will take tougher economic actions against Iran and any country that supports it for failing to strike a deal with the United States.
In a statement on Truth Social Wednesday, Trump said he is announcing 'the most crushing economic operation ever taken against any country.'
He called it 'Economic Warfare and Isolation on an unprecedented scale.'
Trump claimed that Iran's 'navy is gone, their air force is destroyed, their military factories are now rubble, their currency is worthless, and their country is hanging by a thread.'
Trump also announced that any country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will face 'tremendous economic consequences.'
Trump said the tough economic measures are targeting 'oil smuggling, swap lines, cash transfers, exchange houses, ship registries, and front companies.'
'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. These maniacs are on the ropes, and these historic measures will cripple them and their ability to project terror worldwide,' he added.
Trump vowed that Iran will never have a nuclear weapon.
However, in a contradictory note earlier in the day, Trump also said that talks with Iran for lasting peace in the Middle East could resume again 'at some point.' He told reporters that the United States is in 'possession' and 'complete control' of the Strait of Hormuz.
A 60-day Memorandum of Understanding between Iran and the U.S. expired on Tuesday, and Trump said he is not seeking an extension to the MoU.
On Tuesday, in the wake of ballistic missile strike from Iran targeting ships, the United Arab Emirates announced that it would cut all financial and economic relations with Iran.
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