Trump threatens 'tremendous economic consequences' on any country helping Iran

An important development from the financial markets: Trump threatens 'tremendous economic consequences' on any country helping IranImage source, Getty ImagesByGrace Eliza GoodwinPublished5 minutes agoPresident Donald Trump has announced the US will inflict "TREMENDOUS Economic Consequences" on any country that helps or does business with Iran. He wrote in all capital letters on Truth Social he was launching "the most crushing economic operation ever taken against any country! " He gave no further details, and did not name any other nation.

It comes after a 60-day ceasefire with Iran expired on Monday, with no sign of a diplomatic or military off-ramp to the conflict that the US and Israel began at the end of February. Trump's latest move appears to extend the pressure campaign of Operation Economic Fury, launched in April to sanction foreign banks or firms that do business with Tehran. In Wednesday evening's socal media post, Trump said he was launching "economic D-Day" on Iran because the Islamic Republic had failed to make a deal with the US.

Economic Details

"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," Trump said. He did not specify what punishment countries would face. Trump continued: "Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies - It all needs to stop NOW.

You know who you are. " The president's comments come nearly a week after Treasury Secretary Scott Bessent said the US would impose economic isolation on the country "like the world has never seen before". The has asked the White House and US treasury department for comment.

Economists are analysing what the news means for the markets.