President Donald Trump vowed Wednesday to conduct the "most crushing economic operation ever taken" against the Iranian regime amid frustration that the two countries have failed to reach a deal to end their war that began in late February.

The president said the operation will constitute "economic warfare," and warned that countries that try to help Iran will face "tremendous economic consequences."

"No one has given the Islamic Republic of Iran a greater opportunity to make a Deal than me," Trump posted to Truth Social. "Tragically, for them, they have failed to take it. Therefore, today, I am announcing the most crushing economic operation ever taken against any country.

"This will be Economic Warfare and Isolation on an unprecedented scale," he continued. "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."

Trump urged U.S. allies to stand with him and help isolate the Iranian regime, emphasizing that the country cannot have a nuclear weapon.