U.S. President Donald Trump said on Aug. 20 that Washington is imposing what he described as the strongest sanctions ever on Iran, broadening the administration's Operation Economic Fury campaign to hit financial institutions, oil exports and other core sectors while closing off routes used to evade earlier restrictions. Trump threatened steep costs for any country, bank, company, airport or government agency that provides Tehran a "lifeline," effectively warning of secondary sanctions on foreign entities that facilitate trade with Iran. He called for shutting down oil smuggling, currency swaps, cash transfers through exchange houses, ship registries and front companies, and said the measures are meant to cut off all Iranian revenue streams after stalled nuclear negotiations despite what he described as repeated opportunities for a diplomatic deal. Trump also said Iran's navy, air force and military production facilities had been destroyed, its currency had lost much of its value and the regime was under extreme economic strain, while reiterating that Tehran would never be allowed to acquire a nuclear weapon. The tougher restrictions could tighten oil supply, strain ties with European and Asian partners that sought to preserve the 2015 nuclear deal after Washington withdrew in 2018, and raise the risk of further regional escalation, although the full market and diplomatic impact remains uncertain.