President Trump announced a new economic operation against Iran. He called it a "crushing economic operation." Trump also threatened "Economic D-Day" for Iran.

He warned of "tremendous" consequences for Iran's supporters. Trump said other countries could face penalties too.

This includes nations whose banks, businesses, airports or government bodies help Iran. He demanded an end to oil smuggling and cash transfers.

He also wants to stop exchange houses, ship registries and front companies. The move extends a pressure campaign against Iran.

That campaign started in April under the name Operation Economic Fury. Oil prices rose after Trump's announcement. Both West Texas Intermediate and Brent crude prices climbed.