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'Economic Fury': Treasury Secretary Bessent Says U.S. to Hit Iran with Measures 'Never Seen in History'

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'Economic Fury': Treasury Secretary Bessent Says U.S. to Hit Iran with Measures 'Never Seen in History'

By Joshua Klein
Published 2026-08-14T08:02:51+00:00

President Donald Trump is preparing to dramatically escalate his "Economic Fury" campaign against Iran, with new measures coming next week, Treasury Secretary Scott Bessent warned Thursday.

He added the move has "never been seen in the history of economic isolation" while coupled with a U.S. naval blockade aimed at preventing anything from moving in or out of Iranian ports.

"Watch this space for more announcements coming next week," Bessent said Thursday night on Newsmax's Rob Schmitt Tonight. "We are going to apply measures like have never been seen in the history of economic isolation on a country."

Bessent described the strategy as a "one-two punch" combining economic isolation with the continuing U.S. blockade of Iranian ports.

"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," he said.

Trump has repeatedly driven home the same point.

"The U.S.A. has total control over the Strait of Hormuz. I THINK WE WILL KEEP IT!" Trump wrote on Truth Social.

"Our Naval Blockade is being called, by everyone, 'A WALL OF STEEL,' and there is nothing Iran can do about it," he added.

Iran's Khatam al-Anbiya Central Headquarters likewise rejected Washington's claims of control over Hormuz as "lies and falsehoods," insisting that the strait remains under Tehran's "complete management and control."

The Iranian command declared that "no commercial or oil tanker can transit this strait safely without the authorization and supervision of Iran's powerful armed forces."

"We have total control over the Hormuz Strait right now," Trump said earlier this week. "They don't have control. We have total control. We own it."