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

US Treasury Secretary Scott Bessent has warned that Iran will face economic isolation unlike anything the world has ever experienced, according to a report from Newsmax. The new measures are expected to be implemented the following week, according to Bessent. The US Treasury Secretary emphasized that the embargo on the Strait of Hormuz would prevent any goods from entering or leaving Iranian ports.

Bessent described the strategy as having two components: financial pressure and a physical blockade of the ports. Vice-President JD Vance stated earlier that the primary US objective in the Iran conflict was to lower oil and gasoline prices for Americans, while ensuring Iran did not develop a nuclear weapon was a secondary concern.

This more aggressive stance contrasts with Bessent's comments made on August 4th, when he suggested that an agreement with Iran to reopen the Straits of Hormuz could be reached within a few days. Those remarks had a positive effect on Wall Street, sending stock prices higher and oil prices lower.