Trump warns 'economic consequences' for nations helping Iran

Live August 20, 2026 US President Donald Trump has threatened Iran with an "economic warfare". Meanwhile, Australia summoned Israel's envoy over the 2024 death of an aid worker in an Israeli strike in Gaza. DW has the latest. https://p.dw.com/p/5J7Jw Trump said that Washington needed the support of all its allies to isolate Iran Image: CNP/AdMedia/picture alliance Skip next section What you need to know What you need to know US President Donald Trump announced the "most crushing economic operation" ever against Iran Trump said any country providing “any type of lifeline to Iran” will face "tremendous" economic repercussions Iran's media dismissed Trump's threat Here are the latest developments from the Iran war and the Middle East on Thursday, August 20: Tired of missing our real-time updates? Click here to add us as a Preferred Source on Google. Then tap the "Star" or "Preferred" to keep DW News at the top of your feed. Skip next section Trump threatens Iran partners with economic punishment August 20, 2026 Trump threatens Iran partners with economic punishment US President Donald Trump has warned any country that supports Iran of economic consequences as war soon approaches its sixth month with no resolution in sight. Trump said on his Truth Social platform on Wednesday that "ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS economic consequences." The US leader described his move as "economic warfare" and "isolation" on an unprecedented scale as he stepped up an economic pressure campaign on Iran. "Today, I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!" he said, referring to the Islamic Republic in the superlatives-embellished post. Trump said that nobody other than him had given Tehran what he called "a greater opportunity to make a deal". "TRAGICALLY, for them, they have failed to take it," he said. Trump said that Washington needed the support of all its allies to isolate Iran and counter the threat posed by the country. He compared his plan to an "ECONOMIC D-DAY". There were no details of what Trump’s economic steps against nations supporting Iran would look like, Trump also did not mention any country by name, other than Iran. Iran media reacts to Trump’s "economic warfare" warning Iran’s Fars news agency on Thursday called Trump’s latest economic threat the usual "psychological warfare and propaganda campaign," The country’s Tasnim news agency said the US presidents' announcement was "not a new development, as the United States has been trying for years to block any financial and economic ties with Iran." Tehran has "learned how to circumvent these restrictions and has become very skilled at doing so," Tasnim said on Telegram. https://p.dw.com/p/5J7P2 Skip next section Welcome to our coverage August 20, 2026 Welcome to our coverage Thank you for joining us as we bring you the latest edition of our rolling updates on the war in Iran and the wider Middle Eastern crisis. But first here is a wrap up of the developments that took place in the region this week: US President Donald Trump emphasized that no talks or conversations between Washington and Tehran were being held The United Arab Emirates suspended trade ties with Iran after accusing the country of firing two ballistic missiles Human Rights Watch urged the United Nations to keep its international peacekeeping force in Lebanon, saying that a decision to end UNIFIL's mandate came before this year's war and the subsequent Israeli invasion of southern Lebanon The Israeli military announced criminal probes into two high-profile attacks during the Gaza war — the killings of 5-year-old Palestinian girl Hind Rajab in 2024 and 15 Palestinian paramedics in 2025 Follow along for more. https://p.dw.com/p/5J7K7 Show more posts