'Economic D-Day': Trump warns countries supporting Iran of 'tremendous consequences'

US President Donald Trump unveiled what he termed the "most crushing economic operation" ever unleashed against a nation, targeting Iran with a comprehensive economic blockade and warning nations supporting Tehran of severe repercussions. The new measures aim to target any country whose financial institutions, businesses, airports or government bodies provide aid to Iran, known as "a lifeline."

Trump offered no specific penalties and did not name any targeted countries. He described the measures as unprecedented in their scope and severity. Trump's announcement follows intensified US efforts to isolate Iran economically, as reported by US Treasury Secretary Scott Bessent. The conflict between the US and Iran began on February 28, with the United States and Israel launching strikes against Iran.

Iran retaliated with missile and drone attacks against US and Israeli targets across the Middle East, with the Strait of Hormuz being a focal point. Iran has threatened to reopen the Strait of Hormuz until the US lifts its blockade, releases frozen assets, and eases oil sanctions. The widening gap between Trump's claims about ongoing negotiations and reports of continued contacts has added uncertainty about ending the conflict.