WASHINGTON, United States – United States President Donald Trump announced on Wednesday, August 19, 2026, a new economic campaign threatening penalties against any country assisting or conducting business with Iran.
In a statement posted on Truth Social, Trump announced the launch of an economic operation targeting the Islamic republic. Okay News reports that Trump stated, “Today, I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY! This will be Economic Warfare and Isolation on an unprecedented scale.”
Trump added that third-party nations providing support to Iran would face financial repercussions. “I am also announcing that 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.
The announcement follows statements made nearly one week prior by United States Treasury Secretary Scott Bessent, who said the United States would impose economic isolation on Iran “like the world has never seen before.” Trump did not specify what punishment foreign entities would face, and no countries other than Iran were named in the statements.
The intensified measures occur as conflict in the region approaches its sixth month, alongside upcoming United States elections in November. Iran has maintained an effective blockade on maritime traffic through the Strait of Hormuz following the breakdown of a bilateral agreement intended to reopen the shipping corridor.
While both sides indicated that messages were exchanged in recent days, Trump stated on Tuesday, August 18, 2026, that negotiations had ceased, posting a social media message suggesting the Strait of Hormuz could become a “NEW U.S. Territory.”
