While there are no signs that tensions between the Iranian regime and the United States are easing, U.S. Treasury Secretary Scott Bessent announced new and “unprecedented” economic measures against the Iranian regime, saying Washington will continue its maritime blockade of Iran’s ports alongside intensified financial pressure.
Speaking to the Newsmax television network on Thursday, August 13, Bessent said details of the new U.S. measures will be released next week. According to him, the measures will subject the Iranian regime to a level of economic isolation the world has never witnessed before.
U.S. Sanctions Cryptocurrency Exchange Network Linked to Iran’s regime
The U.S. Treasury secretary said the policy has two main pillars: intensifying economic isolation and continuing the maritime blockade in the Strait of Hormuz, which he said could prevent goods from entering and leaving the Iranian regime’s ports.
Sanctions Pressure on the Iranian Regime’s Financial Resources
In recent months, Bessent has repeatedly spoken about implementing a campaign he calls “economic fury” against the Iranian regime. According to him, harsh sanctions and U.S. military operations have placed significant pressure on Iran’s economy, leaving the regime facing a severe inflation crisis and financial difficulties.
In recent months, the U.S. Treasury Department has also imposed multiple sanctions on financial networks linked to the Islamic Revolutionary Guard Corps (IRGC) and the Iranian regime’s Central Bank, while seizing millions of dollars in cryptocurrency linked to Tehran.
Last week, Bessent claimed that the Iranian regime is facing extremely high food inflation and is even struggling to pay the salaries of its military personnel.
Maritime Blockade: The Main Lever of Pressure
Alongside the intensified financial sanctions, the U.S. government has continued its maritime blockade of the Iranian regime.
U.S. Defense Secretary Pete Hegseth has said that the U.S. military has the capability to maintain its naval presence to enforce the blockade “for an unlimited period.”
The continuation of this blockade, particularly given the Iranian regime’s dependence on maritime routes for its oil exports, places additional pressure on Tehran’s revenue sources.
U.S. President Donald Trump previously said that Washington is increasing economic pressure on the Iranian regime and would refrain from another military strike only if an agreement is reached to quickly reopen the Strait of Hormuz.
The Iranian regime has set conditions for reopening the waterway, including ending the war, lifting the blockade of its ports, removing sanctions, releasing frozen assets, and compensating for war damages—conditions that the Trump administration appears unlikely to accept.
Sharp Decline in Traffic Through the Strait of Hormuz
At the same time, ship traffic through the Strait of Hormuz has fallen sharply. According to data from ship-tracking company Kpler, only nine vessels passed through the waterway on Thursday, August 13. While that was an increase from five vessels on Wednesday, it remained well below the route’s average traffic level.
Before the war, the Strait of Hormuz carried about 20% of the world’s consumed oil and natural gas, meaning disruptions to traffic through the waterway could have far-reaching consequences for the global energy market.
However, U.S. Energy Secretary Chris Wright said that over the course of one week, the United States and its allies in the Persian Gulf moved an average of about 9 million barrels of oil per day through the Strait of Hormuz. He also said that more than 20 million barrels of oil left the Persian Gulf region in a single day.
