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

U.S. Treasury Secretary Scott Bessent warned on Thursday of unprecedented economic isolation for Iran, with new measures expected in the coming week. The Treasury official, speaking to conservative television network Newsmax, emphasized that the blockade in the Strait of Hormuz would prevent any goods from entering or leaving Iranian ports, marking a level of economic isolation the world has never witnessed before.

The two-pronged strategy includes financial pressure alongside a physical blockade of ports. Vice President JD Vance previously stated that the primary U.S. goal in the Iran conflict is to lower oil and gasoline prices for Americans, with preventing Iran from possessing nuclear weapons being the secondary objective. This hardened stance contradicts Bessent's earlier assurance on August 4 that an agreement with Tehran to reopen the Strait of Hormuz could be struck within days, a statement that boosted Wall Street and lowered oil prices.