Trump Threatens ‘Tremendous Economic Consequences’ on Countries Helping Iran
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Trump threatens ‘tremendous economic consequences’ on any country helping Iran
Image source:
[Getty Images]
By
Grace Eliza Goodwin
and
Peter Hoskins
Published: 20 August 2026, 01:25 BST
Updated: 56 minutes ago
President Donald Trump has declared that the United States will impose "TREMENDOUS Economic Consequences" on any nation that assists or conducts business with Iran.
He wrote in all capital letters on Truth Social that he was launching "the most crushing economic operation ever taken against any country!" Without providing further details, he did not name any specific countries.
This follows the expiration of a 60-day ceasefire with Iran on Monday, with no diplomatic or military resolution in sight.
Trump’s move appears to expand Operation Economic Fury, a pressure campaign launched in April to sanction foreign banks and companies doing business with Tehran.
In his Wednesday evening social media post, Trump declared he was launching an "economic D-Day" on Iran because the Islamic Republic had failed to reach a deal with the US.
He stated:
"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."
He did not specify the potential punishments for these countries.
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."
This comes a day after the United Arab Emirates, a US ally, announced it would sever all financial and economic ties with Iran, following a new missile threat from the country.
The UAE’s defence ministry claimed it detected two ballistic missiles launched from Iran, both of which landed in the sea.
Iranian entities have long used Dubai’s financial system to transfer money through exchange houses and shell companies.
Following the UAE’s decision, Iran’s armed forces warned neighboring Gulf countries against providing support to the US military, stating any assistance would be considered collusion.
While China was not directly mentioned, its businesses are the biggest buyers of Iranian oil, a key source of funding for Tehran.
Since the start of the conflict, the US has sanctioned several so-called teapot refineries – privately owned oil processing plants, mostly based in Shandong province, eastern China.
The BBC has reached out to the Chinese embassy in Washington for comment.
Last week, Treasury Secretary Scott Bessent stated the US would soon impose economic isolation on Iran "like the world has never seen before."
In April, the US Treasury Department and Pentagon launched Operation Economic Fury, aiming to dismantle Iran’s revenue streams through sanctions and by stopping foreign international entities from conducting business with Iran. It also included a naval blockade to stop Iranian exports.
This week, Trump reportedly threatened to bomb Oman – a US ally – if it "gets in the way" of his administration’s talks with Iran during a phone interview with a Fox News reporter.
The US and Oman have been negotiating separately with Tehran to reopen the Strait of Hormuz, a vital waterway for global trade.
The conflict has significantly disrupted traffic through the strait and increased tensions in the region.
