What unprecedented economic measures is the US preparing against Iran, and what has Treasury Secretary Scott Bessent said about them?

The US is preparing 'unprecedented economic measures' against Iran described by Treasury Secretary Scott Bessent as 'more announcements coming next week' on new sanctions that 'have never been seen in the history of economic isolation on a country.' The article explicitly states Bessent made this claim in a Newsmax interview but did not specify the measures.

How does Trump characterize the US naval blockade of Iranian ports and its control over the Strait of Hormuz?

Trump characterized the US blockade of Iranian ports as a 'wall of steel' that allows Washington to 'effectively govern the waterway,' and he joked during a Long Island speech: 'Pretty soon I’ll be declaring the Hormuz Strait a territory of the United States.'

US Readies Iran Penalties as Trump Downplays Midterms Impact

Aug 14, 2026

The US prepares unprecedented economic penalties against Iran, spiking oil and gasoline prices amid stalled peace talks. Disruptions in the Strait of Hormuz threaten global energy supply chains as military clashes continue.

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