President Trump has announced what he’s calling the “most crushing economic operation ever” against Iran. In a social media post, Trump warned that countries that trade with Iran will also face “tremendous economic consequences,” adding, “This will be Economic Warfare and Isolation on an unprecedented scale.” Trump gave no details on whether the U.S. would impose any new sanctions, or which countries could be affected. In response, Iranian Foreign Minister Abbas Araghchi said Trump’s announcement is designed to distract from unprecedented U.S. national debt and surging interest costs.

Meanwhile, the Financial Times reports Iran could target U.S. military installations in Europe if the Trump administration escalates the nearly six-month-old war, with U.S. bases in Bulgaria and Cyprus among potential targets. U.S. casualties in the war against Iran are over 750 people wounded and 18 dead.