US President Donald Trump said his administration is considering additional sanctions on Iran after Treasury Secretary Scott Bessent indicated that significant new economic measures could be announced this week.
Speaking at the White House on Wednesday (19 Aug), Trump said the US already has “very draconian sanctions” in place and added, “We’ll see what happens,” when asked about further restrictions.
Trump also said the Strait of Hormuz remains open, stating that “a lot of boats are coming through”, while describing the US naval blockade as “100% successful”. He added that no vessels had entered Iran under the blockade and said oil prices could “drop like a rock” if current US policy proves effective.
Recent developments have seen Washington increase economic pressure on Tehran following the collapse of the memorandum of understanding and the continuation of the US naval blockade.
Treasury Secretary Scott Bessent has indicated that additional sanctions could be announced this week, while President Donald Trump has also suggested the US could eventually return to negotiations with Iran.
Meanwhile, uncertainty surrounding the Strait of Hormuz continues to affect global energy markets, with shipping volumes remaining below normal despite US assurances that commercial traffic is continuing through the strategic waterway.
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