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President Donald Trump announced what he described as the most severe economic operation ever imposed on a country, accusing Iran of rejecting opportunities for a negotiated deal and declaring that the United States would pursue unprecedented economic warfare and isolation.
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Trump said the measures would target Iran’s financial lifelines, including oil smuggling, cash transfers, exchange houses, ship registries, front companies and other channels supporting the Iranian economy. He also warned that countries, businesses and financial institutions that assist Iran could face “tremendous economic consequences.”
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