I am announcing the most destructive economic operation against Iran - Donald Trump

US President Donald Trump has announced that he is launching the "most destructive economic operation" against Iran and has called on other countries to support the United States in isolating Iran.

"No one has given the Islamic Republic of Iran a greater opportunity than me to make a deal. Unfortunately, they did not take that opportunity. Therefore, today I am announcing the most destructive economic operation ever launched against any country," Trump said.

He said it would be "economic warfare and isolation" of an unprecedented scale.

"Their navy is gone, their air force is destroyed, their war factories are in ruins, their currency is worthless, and their country is hanging by a thread," the US president said.

Trump said any country that provides Iran with any kind of support through financial institutions, businesses, airports or government agencies would face “tremendous economic consequences.”

“Oil smuggling, swap lines, money transfers, currency exchange offices, ship registrations, shell companies – all of these must be stopped immediately. You know who I mean,” he said.

Trump called the current measures an “economic D-Day” and called on US allies to unite in isolating and confronting Iran.

“These madmen are cornered, and these historic measures will weaken their ability to spread terror and terror around the world,” the US president said.

Trump also reiterated: “Iran will never have a nuclear weapon.”