Trump promises 'economic D-Day' for Iran as war enters sixth month

With the conflict against Iran approaching its sixth month and U.S. weapons stockpiles running low, the Trump administration is shifting its focus to economic warfare. President Donald Trump this week announced an "unprecedented" campaign of financial isolation aimed at forcing Tehran to abandon its nuclear program and reopen the Strait of Hormuz to oil and gas tankers.

Treasury Secretary Scott Bessent offered a preview of the strategy on Thursday, threatening secondary sanctions against any nation or company that continues doing business with Iran. "If you insist on doing business with them, then the U.S. Treasury and U.S. government will put its full might and force against you," Bessent said. "It's time for our allies and the rest of the world to make a decision."

The move echoes Trump's first-term "maximum pressure" policy, now intensified with military action. The administration's "Operation Economic Fury" has so far targeted oil buyers and financial institutions, but the new phase appears aimed at cutting off all remaining revenue streams.

Supporters argue the combination of last year's strikes on Iranian nuclear sites, the ongoing war, and the naval blockade has created conditions for capitulation. Richard Goldberg, who worked on Iran policy in Trump's first term, said the strategy could fundamentally reshape the region. "I caution everyone to have the humility to admit that we are in uncharted waters," he said.

However, critics point to decades of sanctions that have failed to change Tehran's behavior. Ali Vaez of the International Crisis Group said the pressure campaign has only "hardened Iran's position." He noted that Iranian leaders view surrender as more dangerous than sanctions, and distrust of Trump makes diplomacy nearly impossible.

Iranian officials dismissed the latest threats. Foreign Ministry spokesman Esmail Baghaei wrote on X that Washington's pattern of retreating to sanctions when diplomacy fails has proven futile. "The real risk is that American politicians, clinging to this bad habit, will instead strangle their own remaining chances of a less humiliating exit from a crisis of their own making," he said.

The United Arab Emirates' decision this week to suspend trade with Iran over an alleged missile attack adds to Tehran's isolation. But analysts note that enforcing secondary sanctions risks harming U.S. interests and provoking retaliation, as happened during Trump's first term when waivers were granted to oil-dependent allies.