President Donald Trump announced Wednesday what he called the “most crushing economic operation ever taken against any country” and threatened economic consequences for countries allowing their institutions or businesses to provide Iran with a “lifeline.”
In a Truth Social post, Trump said the warning covered financial institutions, businesses, airports and government entities. Oil smuggling, swap lines, cash transfers, exchange houses, ship registries and front companies must stop immediately, according to the post.
Trump described the effort as “Economic Warfare and Isolation on an unprecedented scale.” Calling it an “economic D-Day,” he urged U.S. allies to join the United States in isolating Iran.
The president claimed Iran had rejected an opportunity to reach a deal. He also asserted that its navy was gone, its air force had been destroyed, military factories were rubble and its currency was worthless.
Trump offered no evidence in the post to support those claims. It also did not identify the specific measures, agencies, legal authorities or timeline for carrying out the operation.
Trump also wrote that Iran would never have a nuclear weapon but provided no further details.
This is a developing story. Virginia Times will update as information becomes available.
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