US President Donald Trump said Monday that Iran was "collapsing" as Washington prepared to announce the details of a new economic pressure campaign that Tehran has derided as an admission of defeat. Almost six months into their war, the two sides are locked in a stalemate, with peace talks stalled, Iran keeping the key Strait of Hormuz shut and Washington persisting with a naval counter-blockade of Iran. Under political pressure at home over the economic impacts of the conflict, Trump has pivoted away from military action to economic levers.

Trump’s ‘economic D-Day’ shifts the Iran war from bombs to sanctions. Can unprecedented financial pressure force Tehran to talks or fuel a new phase of conflict?

Daily on Defense: “Economic D-Day’ Trump’s next move, N. Korea spurns charm offensive, was ‘57 very powerful nuclear weapons’ a slip? And the case against steam.