Trump: Iran 'completely collapsing' as Treasury Sec. warns of 'economic D-Day' for regime

US President Donald Trump claimed that Iran is completely collapsing in a post on Truth Social on Monday.

The post came as the US Treasury is expected to broaden the scope of secondary sanctions it can impose on entities and countries that maintain business ties with Iran, as the Trump administration seeks on Monday to increase economic pressure on Tehran, a source familiar with the plans told Reuters.

The action is aimed at giving a final warning to countries to sever their business ties with Iran in an effort to force an end to the nearly six-month conflict that has bottled up the Strait of Hormuz and Gulf energy exports, said the source, who spoke on condition of anonymity due to not being authorized to speak publicly about the matter.

The source said that US Treasury Secretary Scott Bessent also intended to provide a broader overview of an economic pressure campaign against Iran that he and Trump have described as an "economic D-Day," and would make it clear to countries that they must side with the US or risk having key companies and entities cut off from the dollar-based financial system.