WASHINGTON — U.S. Treasury Secretary Scott Bessent said on Thursday that Washington plans to impose measures on Iran that he described as unprecedented, as the administration intensifies economic pressure on Tehran amid a deepening confrontation over the Strait of Hormuz.
Bessent said further announcements were expected next week and that the measures would combine expanded economic isolation with the continued U.S. blockade of Iranian ports. He made the remarks in an interview with Newsmax's “Rob Schmitt Tonight.”
“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,” Bessent said.
The Treasury secretary did not provide details of the planned measures, leaving their scope and implementation unclear. The United States has already imposed extensive sanctions on Iranian financial, energy, shipping and procurement networks under its broader “Economic Fury” campaign.
In July, the Treasury Department's Office of Foreign Assets Control sanctioned four individuals and nine entities linked to Iranian financier Babak Zanjani, accusing them of helping Tehran evade sanctions and move funds through financial services, digital assets, precious metals and infrastructure businesses. Treasury said the action was intended to disrupt networks supporting Iran's government and military.
The latest warning comes as shipping through the Strait of Hormuz has fallen sharply. Reuters reported on Friday that only nine vessels passed through the waterway on Thursday, compared with more than 130 a day before the war involving the United States, Israel and Iran began in February. No visible crossings were recorded early Friday, although some vessels may have traveled with transponders switched off.
U.S. Defense Secretary Pete Hegseth said Washington could maintain its naval blockade indefinitely by rotating ships in and out of the region. The blockade has further restricted Iran's access to hard currency and compounded economic losses from damage to its energy infrastructure, according to Reuters.
Iran has said it will not permit the waterway to reopen until its conditions are met, including the removal of economic sanctions and release of frozen Iranian assets. Tehran has also disputed U.S. claims of control over the strait.
As of Friday, Washington had not publicly detailed the new Treasury measures. Bessent said additional announcements were expected in the coming week.
