U.S. Treasury Secretary Scott Bessent threatened to subject Iran to economic isolation unseen anywhere in the world, with new measures expected next week.
“It will be a combination of economic isolation, like the world has never seen before,” Bessent told American media, adding that “the continued blockade in the Strait of Hormuz… will keep anything from going in or out of the Iranian ports.”
“Watch this space for more announcements coming next week,” he said. Bessent described a two-pronged approach featuring financial pressure and a physical blockade of the ports.
Bessent’s statements come after Vice President JD Vance said that the top U.S. priority in the Iran war is bringing oil and gasoline prices down for Americans, with preventing Tehran from acquiring a nuclear weapon now ranking second.
Earlier this month, Bessent said an agreement with Tehran to reopen the Strait of Hormuz could be reached within days—a statement which sent Wall Street higher and oil prices lower.
Washington’s shift toward intensified economic pressure suggests the Iran conflict is increasingly being fought through financial and energy leverage as much as military force. The key development to watch is the package of measures expected next week, particularly whether they target Iran’s oil exports, banking system, or remaining access to international trade. Equally important will be Tehran’s response: any attempt to further restrict the Strait of Hormuz could drive oil prices higher and increase pressure on Washington to choose between escalation and renewed negotiations.
