Trump threatens 'Economic D-Day' for Iran and ‘tremendous’ consequences for its backers

US President Donald Trump delivers remarks during a meeting with cryptocurrency executives in the Roosevelt Room of the White House in Washington, DC, on Aug. 19, 2026. Jim Watson | AFP | Getty ImagesPresident Donald Trump said the U.S. will launch what he called the "most crushing economic operation ever taken against any country" against Iran, threatening severe financial penalties on any nation that helps Tehran evade sanctions. In a Truth Social post, Trump said that "this will be Economic Warfare and Isolation on an unprecedented scale." "No one has given the Islamic Republic of Iran a greater opportunity to make a Deal than me," and that "TRAGICALLY, for them, they have failed to take it," the president said. Iran's navy, air force, and military production facilities have been destroyed and its currency rendered worthless, arguing the regime is "hanging by a thread." He said any country whose financial institutions, businesses, airports, or government entities offer Iran a "lifeline" will face what he described as tremendous economic consequences of their own.The president named oil smuggling, currency swap lines, cash transfers, exchange houses, ship registries, and front co...