WASHINGTON: The United States is preparing a new round of economic measures against Iran, Treasury Secretary Scott Bessent said Thursday, as Washington seeks to tighten pressure on Tehran while the standoff over the Strait of Hormuz continues.
Bessent told Newsmax that the planned action would combine sweeping financial pressure with the continued blockade of Iranian ports. He said Washington would announce additional measures next week but did not specify what they would entail.
“It will be a combination of economic isolation, like the world has never seen before,” Bessent said, adding that the blockade would prevent goods from entering or leaving Iranian ports.
“Watch this space for more announcements coming next week,” he said.
The warning represents a tougher position from Washington after Bessent said Aug. 4 that a deal with Tehran to reopen the Strait of Hormuz could be reached within days. His earlier comments had raised hopes of an easing in tensions and helped support US stocks while weighing on oil prices.
Read More: US has total control over Strait of Hormuz, says Trump
The Strait of Hormuz has become the central issue in the confrontation between Washington and Tehran. The waterway is a major route for global oil and gas shipments, making prolonged disruption a concern for energy markets and countries that rely on supplies from the Middle East.
Washington has demanded safe passage for commercial shipping, while Tehran has sought an end to the US naval blockade and economic restrictions as part of any agreement to restore normal traffic.
The United States reinstated its blockade of Iranian ports in July after a 60-day ceasefire and memorandum of understanding between the two sides collapsed. The Pentagon has also said the US military can maintain the blockade indefinitely by rotating naval forces in the region.
The confrontation has already disrupted maritime traffic through the strategic waterway, contributing to uncertainty in global energy markets. Oil prices rose Friday after Washington signaled that the blockade could continue indefinitely.
Vice President JD Vance said Thursday that keeping oil and gasoline prices low for Americans is the administration’s top priority in the conflict, with preventing Iran from obtaining a nuclear weapon ranking second.
The comments highlight the growing importance of energy prices to Washington’s strategy as the conflict continues to affect global oil supplies. They also reflect a broader focus on the economic consequences of the standoff, particularly for US consumers.
Bessent’s planned measures would add another layer to that strategy by increasing financial pressure on Tehran while the US maintains its military presence around Iranian ports.
The latest warning contrasts sharply with Washington’s earlier indications that negotiations could produce a breakthrough. Bessent’s Aug. 4 comments suggested that an agreement on Hormuz might be close, but those expectations have since faded as efforts to resolve the standoff remain stalled.
The US military is continuing to reinforce its presence in the region. The USS George Washington is expected to replace the USS Abraham Lincoln in the Middle East, underscoring Washington’s decision to maintain its naval posture as negotiations remain unresolved.
For Tehran, the expected measures could further restrict its access to international trade and finance. For global markets, the continuing disruption around Hormuz leaves energy supplies vulnerable to further shocks.
With the conflict approaching its fifth month, the standoff has also become an increasingly important political issue for the Trump administration ahead of the November midterm elections, while high fuel prices add pressure at home.
