US President Donald Trump on Wednesday threatened what he described as a major new economic offensive against Iran, as efforts to reopen the Strait of Hormuz and secure an agreement to end the nearly six-month-long conflict remained stalled.
Trump said the United States was preparing to launch a broad economic campaign against Tehran, describing it as the “most severe economic action ever taken against any country,” though he did not provide details of measures beyond the already stringent sanctions imposed on Iran.
In a post on Truth Social, Trump warned that any country allowing its financial institutions, companies, airports or government bodies to provide support to Iran could face “enormous economic consequences.”
He also called for tighter action against Iranian oil smuggling, financial transfer networks, currency exchange operations, ship registrations and shell companies allegedly linked to Tehran.
Washington Signals Tougher Sanctions
Trump’s remarks came as his administration signaled that additional measures could soon be announced. Asked earlier on Wednesday about the economic tools available to pressure Iran, the US president said Washington had “new things” that could be targeted.
“We have very severe sanctions, and we’ll see what happens,” Trump told reporters. “Either the results are very good and oil prices fall like a rock, or we will continue doing exactly what we are doing.”
US Treasury Secretary Scott Bessent said last week that Washington was preparing further steps aimed at bringing Iran back to the negotiating table, without disclosing specific details.
“Watch for more announcements next week,” Bessent said, adding that the United States was preparing economic isolation measures on a scale he said would be unprecedented.
Deadline Expires Without Breakthrough
The threats come after a 60-day deadline for reaching an agreement between the United States and Iran expired on Monday without any publicly announced breakthrough.
The deadline was linked to a memorandum of understanding reached in June, but talks have yet to produce an agreement or lead to the full reopening of the Strait of Hormuz, a vital waterway through which around 20 percent of global oil supplies pass.
Conflicting accounts have emerged over the status of possible negotiations. Jared Kushner, Trump’s son-in-law, said back-channel discussions had been “positive and active,” while Tehran denied that any communication was taking place. Trump, meanwhile, said no talks were currently underway.
The White House has made the termination of Iran’s nuclear program a key condition for a permanent ceasefire, a demand Tehran has so far rejected.
US officials believe Iran’s worsening economic difficulties could increase pressure on Tehran to make concessions. Trump has also said he believes the US naval blockade targeting Iranian ships and ports has proved effective.
The latest developments raise the prospect of a further escalation in economic pressure against Iran, with Washington seeking to use sanctions and financial restrictions to force Tehran back toward negotiations.
