Overview
- Treasury Secretary Scott Bessent said on Thursday that detailed measures will be announced next week and described the plan as a “one-two punch” of sweeping secondary sanctions plus continued blockade enforcement.
- President Trump has publicly backed the strategy and asserted U.S. control over the Strait of Hormuz as the administration presses for non‑military tools to weaken Tehran.
- Iran rejected U.S. claims of control and warned it would keep the strait closed until the United States accepts what Tehran called its defeat.
- Markets moved higher on oil prices as officials signaled sanctions will target foreign banks, trading firms and intermediaries that keep Iran linked to the global financial system.
- The campaign builds on months of naval interdiction and long-standing U.S. sanctions that have sharply reduced Iran’s seaborne loadings and now force third countries, notably China, to choose between trade with Tehran and access to U.S. finance.