US threatens Iran with ‘economic isolation, like the world has never seen’

Treasury Secretary Scott Bessent warned on Thursday that the United States plans to impose unprecedented economic isolation on Iran, stating that the new measures will be implemented the following week. During an appearance on conservative television network Newsmax, Bessent elaborated that the strategy would involve a combination of economic sanctions and a physical blockade of Iran's ports, effectively preventing any goods from entering or leaving Iranian territory.

He emphasized that the ongoing blockade of the Strait of Hormuz would serve to restrict the flow of both people and commodities. Bessent indicated that further details about the impending measures would be released in the upcoming week. The secretary outlined a dual strategy, combining financial pressures with the physical obstruction of Iranian ports.

Vice President JD Vance had previously stated that the United States' primary objective in the ongoing conflict with Iran was to lower oil and gasoline prices for American citizens, while ensuring Iran did not acquire nuclear weapons, which ranked second in importance. This announcement marked a significant shift from Bessent's earlier remarks on August 4, where he had suggested that a deal to reopen the Strait of Hormuz could potentially be reached within days.