Donald Trump has announced he will hit Iran and other countries with an “unprecedented” package of sanctions aimed to crush the regime’s economy after the two parties failed to strike a deal to end the war.
The US president said any country that allowed its financial institutions, businesses, airports or government entities to provide any type of lifeline to Iran would face “TREMENDOUS Economic Consequences”.
While the US government did not immediately provide specifics, Treasury Secretary Scott Bessent has recently signalled a new sanctions package that would significantly dial up restrictions on Iranian finance.
For example, Bloomberg News reported the US has so far stopped short of targeting Chinese banks that finance Beijing’s oil purchases from Iran. Other measures could target banks and financial institutions all over the world.
“Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies – It all needs to stop NOW. You know who you are,” Trump said on Truth Social on Wednesday evening (US time).
“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.”
