Kathmandu. U.S. President Donald Trump has announced a new economic pressure campaign targeting Tehran, warning that any country that helps Iran or does business with Iran could face “severe economic losses.” His announcement signals an increase in economic pressure on Iran as the war enters its sixth month and traffic through the vital Strait of Hormuz continues to be affected.

In an interview on Wednesday, Trump warned that Iran would face “severe consequences” if any country allows its financial institutions, businesses, airports or government agencies to provide any kind of aid to Iran.

He described his move as the biggest economic campaign to date, declaring an economic war on an unprecedented scale and the isolation of Iran. However, he did not specify what action would be taken against any country or institution other than Iran. Trump has said that there should be an immediate end to oil smuggling, swap lines, cash transfers, exchange houses, ship registrations and other companies used by Iran.

U.S. Treasury Secretary Scott Besant said last week that the U.S. would step up efforts to isolate Iran economically with the U.S. naval blockade. He described it as an attempt at economic isolation on a scale the world has never seen before.

The U.S. Treasury Department has been trying to limit Iran’s financial resources through targeted sanctions over the past few months. Meanwhile, Iran has also reacted strongly after facing months of US military action. The Pentagon has denied that the war has significantly reduced the US weapons stockpile.

The conflict began on February 28 when the United States and Israel launched a joint attack on Iran. In retaliation, Iran launched missile and drone attacks in various parts of the region. The threat of Iranian missiles and drones led to a major reduction in shipping through the Strait of Hormuz. Attempts to reach a deal between the US and Iran to reopen the waters have also failed.

However, Trump on Wednesday defended the U.S. military’s efforts to help operate the ship through Hormuz, saying there are “too many ships” already moving. According to digital media Axios, the US military has been facilitating the movement of about 15 to 20 aircraft in and out of Hormuz every day in recent weeks. These ships are transporting about half the amount of oil they did before the war.

The US and Iran have been exchanging messages in recent days, but Trump said on Tuesday that the talks had been stalled. He also hinted on social media that the Strait of Hormuz could be established as a new territory of the United States.

Meanwhile, the United Arab Emirates (UAE) on Tuesday suspended all economic deals with Tehran, accusing Iran of firing two ballistic missiles. The UAE and Iran share deep cultural and historical ties but before the war, the UAE was one of Iran’s main trading partners under US sanctions. There is also a large Iranian community living in the UAE.

Trump said that all America’s allies should support the US in deterring and defeating the threat of Iran. He said the latest announcement indicates that US pressure will increase not only on Iran but also on countries that do economic business with Iran.