Why Donald Trump Threatened ‘Tremendous’ Punishment for Countries Doing Business With Iran
US President Donald Trump threatened 'tremendous' punishment on any country doing business with Iran, calling it the 'most crushing economic operation ever taken against any country.' The warning comes as the Middle East war nears six months, with Trump saying oil smuggling, swap lines and cash transfers to Iran 'all needs to stop NOW.'
US President Donald Trump on Thursday threatened "tremendous" punishment on any country that helps or does business with Iran, an economic pressure campaign that comes as the war in the Middle East nears its sixth month. Calling it the "most crushing economic operation ever taken against any country," he also listed several activities that he said need to stop immediately.
Trump Announces 'Economic D-Day' Against Iran
"No one has given the Islamic Republic of Iran a greater opportunity to make a Deal than me. TRAGICALLY, for them, they have failed to take it. Therefore, 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 said in a Truth Social post.
Trump Threatens 'Tremendous' Punishment For Countries Aiding Iran Amid Escalating Economic Pressure
BREAKING 🚨🚨 TRUMP: "No one has given the Islamic Republic of Iran a greater opportunity to make a Deal than me. TRAGICALLY, for them, they have failed to take it. Therefore, today, I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!.." pic.twitter.com/i2K4c4pP78
— Insider Paper (@TheInsiderPaper) August 19, 2026
"Today, 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. Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies - It all needs to stop NOW," he said, without specifying what punishment countries would face. He did not name any country but said "they know who they are." Why Donald Trump Says No Iran Talks Are Taking Place and None Are Scheduled.
Iran's Major Trading Partners Before The War
Before the war broke out in February, China, India, Turkey, Germany, South Korea and Japan were among Iran's largest trading partners. The UAE has separately suspended all trade and financial dealings with Iran following a missile incident.
"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. IRAN WILL NEVER HAVE A NUCLEAR WEAPON," Trump said. The US Treasury has for months been carrying out "Operation Economic Fury," aiming to cut off Tehran's funding through targeted sanctions. Donald Trump Threatens to Bomb Oman Over Iran Deal on Strait of Hormuz, Officials Say.
Background On The Middle East War
The war in the Middle East broke out when US and Israeli forces conducted joint strikes on Iran on February 28, killing a swath of the country's leadership, including the then 86-year-old Supreme Leader, Ali Khamenei. In response, Iranian forces attacked American and Israeli assets in the Middle East.
Trump Says No Talks Planned With Iran
Trump had on Tuesday said that no talks were taking place with Iran after a temporary 60-day ceasefire agreement expired on Monday. "There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," he said in a Truth Social post. "The Naval Blockade remains in full force and effect. The Hormuz Strait is open and operating. All water mines have been removed or detonated," he added.
His remarks came a day after his son-in-law and special envoy Jared Kushner said talks with Iran were still under way and were "probably more robust" than they had ever been.
A memorandum of understanding signed on June 17 had set a 60-day time frame for a broader deal on Iran's nuclear programme and US sanctions. The agreement, which declared the "immediate and permanent termination of military operations on all fronts," had quickly unravelled over a dispute about control of the Strait of Hormuz, the narrow waterway through which a fifth of global oil and liquefied natural gas flowed before the war.
(The above story first appeared on LatestLY on Aug 20, 2026 07:42 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
