US President Donald Trump declared that the United States would be targeting Iran with "the most crushing economic operation ever taken against any country" in a Truth Social post on Wednesday.
"This will be an ECONOMIC D-DAY," Trump announced, adding that the US needed all its allies to aid in isolating Iran.
Trump also announced that any country which provided aid to Iran would face "TREMENDOUS Economic Consequences."
"Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies - It all needs to stop NOW," Trump wrote. "You know who you are."
Trump also described Iran as "maniacs" who were "on the ropes."
"These HISTORIC MEASURES will cripple them and their ability to project terror worldwide," he stated, adding, "IRAN WILL NEVER HAVE A NUCLEAR WEAPON."
Kushnersays US-Iran negotiations have yet to reach understanding
On Monday, Trump's envoy Jared Kushner told Fox News that conversations between the US and different areas of the Iranian government were probably more robust than ever, but the two sides had not yet reached an understanding.
"Trump doesn't want to rush into a deal, he'll make the right deal when it's ready," Kushner said.
Kushner also said that Trump was placing an emphasis on economic pressure over military actions, focusing on the blockade of Iran which had left the Iranian economy "way worse off now."
Esther Davis, Leo Feierberg Better, and Reuters contributed to this report.