Comparing the “operation” to an “Economic D-Day,” Trump said that the isolation campaign would be the most crushing ever enacted against a country.

‘Economic Warfare and Isolation on an unprecedented scale’

Describing the new campaign as “economic warfare and isolation on an unprecedented scale,” Trump argued that the ongoing conflict has already degraded Iran’s conventional capabilities.

“Their 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,” he said.

He further warned that any countries or entities that provide Tehran with a financial lifeline would face severe penalties from the United States.

“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,” he said.

“Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW. You know who you are,” he added.

The Republican leader then called on US allies to stand with Washington to isolate and defeat the Iran threat.

“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,” he said.

‘They are on the ropes’

Calling the Iranian leaders “maniacs,” Trump said the measures were designed to cripple Tehran’s ability to fund and “project terror worldwide”.

“These maniacs are on the ropes, and these HISTORIC MEASURES will cripple them and their ability to project terror worldwide,” he said.

He further reiterated that Iran will “never have a nuclear weapon”.

The US president’s remarks come as the deadline set under the June agreement expired, with the Hormuz still restricted and substantive negotiations on Iran’s nuclear programme yet to resume.

On Tuesday, he said that no talks with Iran were underway and none were scheduled.

“There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran. The Naval Blockade remains in full force and effect,” Trump wrote on his Truth Social network.