Iran FM hits back at Trump's 'Economic D-Day' threat

"Economic D-Day" diversion from America's own crisis, says Iranian FM Araghchi

Tehran, August 20

In a post on X, Araghchi said, "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," he added.

Araghchi's remarks came after Trump, on Wednesday (local time), announced through his post on Truth Social the "most crushing economic operation ever taken against any country" against Iran, calling the measures "Economic Warfare and Isolation on an unprecedented scale."

Trump said the measures would target Iran's economic lifelines, including oil smuggling networks, financial transfers, exchange houses, ship registries, and front companies.

"Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies -- It all needs to stop now," Trump said in the post.

He also called the measures an "Economic D-Day" and urged US allies to join Washington in isolating Iran.

"You know who you are. 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," Trump said.

In his post, Araghchi also shared several reports, including CNN and The New York Times coverage of the US national debt reaching USD 40 trillion.

According to CNN, the US federal debt hit a record USD 40 trillion on Tuesday (local time), amid rising interest payments and concerns over the pace at which the debt is increasing.

The US national debt rose by USD 1 trillion in just five months, according to US Treasury Department data cited by CNN, while the federal government had accumulated a USD 1.8 trillion deficit during the first 10 months of the current fiscal year.

The US President also said Iran had failed to reach a deal with Washington despite an opportunity to do so.

"No one has given the Islamic Republic of Iran a greater opportunity to make a deal than me. Tragically, for them, they have failed to take it," Trump said.

The US President also reiterated that Iran would not be allowed to acquire nuclear weapons.

"Iran will never have a nuclear weapon," Trump said.

On the same day, Trump said that Washington has "very draconian sanctions" available against Iran and indicated that further measures could be announced, while asserting that the Strait of Hormuz remained open and the naval blockade had been "extremely effective".

While addressing technology leaders, Trump, when asked about possible sanctions on Iran, said, "We have things that we could sanction. We have very draconian sanctions, and we'll see what happens."

He said the US would decide its next course of action based on developments, adding that the situation could either lead to a major drop in oil prices or a continuation of the current measures.

"It'll either be extremely good, and oil prices are going to drop like a rock or we'll continue to do exactly what we're doing," Trump said.

— ANI