Due to stalled negotiations with Iran, US President Trump announced on the 19th that the US will implement 'devastating economic action' against Iran.
In a post on social media, he pointed out that Iran had missed a good opportunity to reach an agreement with the US. Therefore, he announced what he described as 'the most devastating economic action ever taken against a country' and called it an 'unprecedented economic war and isolation campaign.'
He also threatened that any country allowing its financial institutions, enterprises, airports, or government entities to provide any form of support to Iran would face severe economic consequences.
However, Trump did not specify what kind of punishment would be faced, nor did he name any countries other than Iran.
He called on all US allies to join the US in isolating and defeating the threat posed by Iran.
US Treasury Secretary Besant warned last week that unprecedented measures of economic isolation against Iran would be announced in the coming week, in coordination with a blockade on the Strait of Hormuz to prevent any goods from being shipped into or out of Iranian ports.