U.S. President Donald Trump said he would launch an "economic isolation operation" against Iran and declared an "economic D-Day." He also warned that third countries that support Iran or provide it with funding channels would "pay a massive economic price," pressuring the international community to suspend transactions with Iran.
On the 19th (local time), President Trump said on the social media (SNS) platform Truth Social, "No one has given Iran more opportunities to reach a deal than I have. Tragically, they missed that chance," delivering this message.
President Trump said he was "announcing the most lethal economic operation ever taken against any country," adding that it would be "an unprecedented economic war and isolation measure." He added, "Every country that allows its financial institutions, corporations, airports or government agencies to provide any form of lifeline to Iran will pay a massive economic price."
Trump then pointed to methods of transaction between Iran and third countries to evade existing sanctions, such as oil smuggling, currency swaps, cash transfer, ship registration and the establishment of front companies. He said, "All of (these) acts must stop immediately," and urged "all allies to join the United States in isolating and repelling Iran."
He continued, "These madmen are cornered, and these historic measures will neutralize them and their ability to spread terror around the world," adding, "Iran will never have nuclear weapons."
This move is seen as an effort not only to isolate Iran economically but also to broadly cut off Iran's financing and sanction-evasion channels by imposing economic disadvantages on countries that transact with Iran. In particular, it is analyzed as an attempt to drive already war-stricken Iran further into a corner to extract concessions on core issues, including its nuclear program.
So far, the Trump administration has worked behind the scenes through intermediary countries to reach an agreement with Iran after the memorandum of understanding (MOU) for ending hostilities effectively fell apart. However, it appears to have concluded that forging a breakthrough through negotiations is not easy at this point. The previous day, President Trump said, "There are no ongoing talks or discussions with Iran, and none are scheduled."