US Treasury Secretary Announces Unprecedented Economic Measures Against Iran

U.S. Treasury Secretary Scott Bessent announced on Thursday that Washington plans to impose unprecedented economic measures on Iran, with further details expected next week. The announcement comes amid ongoing tensions over control of the Strait of Hormuz and follows recent U.S. claims of a naval blockade of Iranian ports.

Bessent outlined a two-pronged approach combining intensified financial pressure with a physical blockade of the waterway. "It will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz that will keep anything from going in or out of the Iranian ports," Bessent said in an interview. He added, "Watch this space for more announcements coming next week because we are going to apply measures like have never been seen in the history of economic isolation on a country."

The comments mark a significant escalation in rhetoric. Earlier this month, Bessent had suggested a deal to reopen the Strait of Hormuz could be reached within days, remarks that had temporarily boosted financial markets. The tougher stance was echoed by other U.S. officials on Thursday. Defense Secretary Pete Hegseth stated...