Trump Announces Increased Economic Pressure Against Iran. Oil Prices Jump.
Oil prices are climbing on Thursday as prospects of an end to the war in Iran got dimmer following President Donald Trump’s announcement that the U.S. will carry out an “economic D-Day” against Tehran.
Brent crude, the international benchmark, gained around 3% at 8:40 a.m. ET, clocking in at $94.33 per barrel, while West Texas Intermediate, the U.S. benchmark, gained 3.10% at the same time and stood at $87.01 at the same time.
In a social media post, Trump said that Washington will launch the “most crushing economic operation ever taken against any country.”
“This will be Economic Warfare and Isolation on an unprecedented scale,” Trump said, also threatening large “economic consequences” for “ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran.”
The so-called “Economic D-Day” is a diversion from America’s own crisis: unprecedented debt & surging interest costs.
Doubling down on failed policies will only bring further defeat—and enmity of Iranians. US economic terrorism threatens global economy and sovereignty worldwide pic.twitter.com/Qj5SzVBjvX
— Seyed Abbas Araghchi (@araghchi) August 20, 2026
“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. These maniacs are on the ropes, and these HISTORIC MEASURES will cripple them and their ability to project terror worldwide,” Trump added.
Iran dismissed the remarks, with Foreign Minister Abbas Araghchi calling it a diversion from America’s own crisis: unprecedented debt & surging interest costs.”
“Doubling down on failed policies will only bring further defeat—and enmity of Iranians. US economic terrorism threatens global economy and sovereignty worldwide,” Araghchi added, citing an article noting that the U.S. national debt has crossed the $40 trillion mark.
In the meantime, a new report detailed that the U.S. military is carrying out missions to help vessels transit the Strait of Hormuz despite Iran’s blockade.
Citing officials familiar with the matter, Axios detailed on Thursday that the strategy has managed to guarantee the shipping of about 10 millions of barrels a day.
Overall, between 15 and 20 tankers are entering and exiting the waterway at night through a channel along the coast of Oman.
U.S. forces are not only escorting the vessels, but also helping them pick up oil from countries in the region and then exit.
“We have been controlling the southern lane of the Strait of Hormuz for two months now. The Islamic Revolutionary Guard Corps can be a nuisance, but they don’t control the strait. We do,” an official told the outlet.
