No way in, no way out: US prepares unprecedented economic squeeze on Iran

The Trump administration is preparing unprecedented measures to economically isolate Iran, Treasury Secretary Scott Bessent said, promising major announcements as early as next week.

“We are going to apply measures like have never been seen in the history of economic isolation on a country,” Bessent said, adding that the campaign will combine crushing financial pressure with the US blockade of the Strait of Hormuz, preventing goods from entering or leaving Iranian ports.

The warning comes as Washington intensifies pressure on Tehran on multiple fronts, with Vice President JD Vance saying US priorities remain keeping energy prices low and ensuring Iran never obtains a nuclear weapon.