Trump Announces 'Crushing Economic Operation' Against Iran As Strait Of Hormuz Remains Closed To Traffic

President Donald Trump announced via Truth Social early morning UTC Thursday, that the United States is launching against Iran, what he claimed to be the "most crushing economic operation ever taken against any country," framing the move as "economic warfare and isolation on an unprecedented scale."

Trump declared that Iran had "failed to take" a greater opportunity to make a deal, justifying the escalation by claiming Iran’s navy is gone, its air force destroyed, and its currency worthless. He issued a stark warning that any country allowing its financial institutions, businesses, or government entities to provide a lifeline to Iran would face "tremendous economic consequences."

The President demanded an immediate stop to oil smuggling, swap lines, cash transfers, exchange houses, ship registries, and front companies, calling the announcement an "ECONOMIC D-DAY" and urging allies to join the effort to isolate Tehran.

The announcement comes as peace talks remain at a complete impasse, with the Iranians and Trump confirming there are "no talks or conversations going on, or scheduled" with Iran. The U.S. had previously agreed to a 60-day ceasefire in a June Memorandum of Understanding with Iran, but that deal expired without renewal.

Iran remains defiant, with parliamentary speaker Mohammad Bagher Ghalibaf stating the Strait of Hormuz will not be reopened until the U.S. meets specific demands: lifting the U.S. naval blockade of Iran's ports, removing sanctions on Iran’s oil and gas sales and unfreezing Iranian assets held abroad.

Strait of Hormuz, the strategic waterway responsible for nearly a fifth of global petroleum transit, has been effectively closed to traffic by Iran since early March, with the U.S. military describing its own naval blockade of Iran as "100% successful" and having redirected 65 vessels. Trump recently threatened "to bomb the shit out of" Oman, if the nation bypassed the U.S. blockade to broker independent commercial shipping routes with Iran.

The UAE recently halted trade with Iran following accusations that Tehran fired ballistic missiles at the country, Iranian officials denied the accusations. Meanwhile, Saudi Arabia has demanded Iraq crack down on Iran-backed militia leaders over ongoing attacks against its oil facilities.

U.S. and Israel launched massive military operations against Iran on February 28. In response, Tehran restricted passage through the Strait of Hormuz and demanded an immediate end to Washington’s maritime containment.

With peace negotiations abandoned and secondary economic sanctions taking effect, the conflict continues to drive global energy market volatility. Oil prices have risen above $90 a barrel as investors worry about prolonged inflation shocks.

"Americans think squeezing Iran harder will win concessions that were never part of the agreement,"  Ghalibaf wrote on X. "Bessent and Hegseth are way out of their league. Stop waiting for the clown crew to pull a rabbit out of their hat and clean up the mess you made."