WASHINGTON, Aug. 19 (Xinhua) -- U.S. President Donald Trump announced on Wednesday what he described as "the most crushing economic operation ever taken against any country."

"This will be Economic Warfare and Isolation on an unprecedented scale," Trump posted on Truth Social, accusing Iran of failing to take the opportunity to make a deal.

"Their navy is gone, their air force is destroyed, their military factories are now rubble, their currency is worthless, and their country is hanging by a thread," he said.

"Today, I am also announcing 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," Trump added.

Claiming that this will be "an ECONOMIC D-DAY," he urged allies to stand with the United States to "isolate, and defeat, the Iran threat."

The United States and Iran remain at odds over the Strait of Hormuz and the terms for ending the conflict, with the future of the talks uncertain after a 60-day negotiating period set under a memorandum of understanding ended on Monday.