The United States has threatened Iran with sweeping economic isolation and said new measures are due next week, while renewed attacks in the Strait of Hormuz kept pressure on shipping and energy markets.
“It will be a combination of economic isolation, like the world has never seen before,” Treasury Secretary Scott Bessent told Newsmax on Aug. 13.
Bessent said the continued U.S. blockade would prevent goods from entering or leaving Iranian ports.
Defense Secretary Pete Hegseth said separately that Washington could maintain the blockade indefinitely by rotating naval vessels in and out of the region.
Vice President JD Vance, meanwhile, described keeping fuel prices low as the administration’s leading objective in the conflict, ahead of preventing Tehran from obtaining a nuclear weapon.
“That’s goal number one: keep oil and gas cheap for Americans all over our country,” Vance told Fox News. He said ensuring that Iran never acquires a nuclear weapon was the second objective.
The UAE said on Aug. 14 that Iran had attacked two vessels affiliated with the state-owned Abu Dhabi National Oil Company (ADNOC) as they passed through the Strait of Hormuz the previous evening. No injuries were reported.
ADNOC confirmed that two of its vessels had been attacked and said the situation was brought under control, according to the UAE’s official WAM news agency.
Oil prices edged higher in early trading on Aug. 14 as the prospect of a prolonged blockade revived concerns over crude supplies, although gains were limited by a weaker global demand outlook.
