Donald Trump declared this Monday that "Iran is completely collapsing!" through his Truth Social network, on the same day that the U.S. administration announced an aggressive package of new economic sanctions against Tehran, as a war approaches its six-month duration.
For his part, Treasury Secretary Scott Bessent announced "the largest financial offensive ever launched against an adversary," according to the EFE report.
"The president has created the conditions to mobilize all agencies and use all the powers and measures that many thought we would never employ. Our goal is to cut off all economic lifelines sustaining the tyrannical regime, leaving Tehran completely isolated," the official stated.
The message from the leader comes as Washington increases pressure on the Islamic Republic with the aim of ending the conflict and reopening transit through the Strait of Hormuz, a vital point for global oil trade.
The conflict began on February 28, 2026, with joint airstrikes by the United States and Israel against Iran. Tehran responded by closing the Strait of Hormuz, which reduced naval traffic by 97%, left nearly 2,000 ships and 20,000 sailors stranded, and caused the price of Brent crude to soar from $67 to over $126 per barrel.
In April, Washington imposed a naval blockade on Iranian ports that lasted until mid-June, when Trump announced an agreement with Tehran and ordered its lifting. However, the agreement did not last: in July, U.S. forces resumed the blockade and the attacks.
By August, the flow of oil through Hormuz had dropped from about 20 million barrels per day to estimates between eight and 12 million, with 80% of recent traffic classified as "dark," meaning unidentified. On August 15, only two vessels navigated the strait in an entire day, compared to the average of 130 to 140 ships daily before the war.
The main architect of the financial offensive has been Treasury Secretary Scott Bessent, who described the strategy as a "one-two punch": a naval blockade combined with unprecedented financial sanctions. In mid-August, he promised "unprecedented" measures against Iran, and on August 20, he announced what he called "the toughest sanctions in history," aimed at cutting off oil smuggling, foreign currency transfers, exchange houses, ship registries, and shell companies.
On that same day, Bessent demanded that China join the economic pressure against Tehran, while Trump warned of "huge economic consequences" for any country that continues to provide vital assistance to the Iranian regime.
The legislative support for the offensive came on August 7, when the U.S. Senate approved the Lindsey O. Graham Russia and Iran Sanctions Act of 2026 with 86 votes in favor and 11 against, extending restrictions on the Iranian energy and arms sectors until 2031.
The economic strategy has deeper roots: in January 2026, Trump announced a 25% tariff on any country trading with Iran, a measure formalized through an executive order in February. The administration publicly unveiled the so-called "Economic Fury Operation" on August 20, which has been active since April, as "the most crushing economic operation ever taken against any country."
Iran, for its part, conditions any reopening of the strait on the end of the U.S. naval blockade, which keeps the deadlock in place at a time when maritime traffic in Hormuz has nearly come to a standstill and the economic pressure on Tehran has reached unprecedented levels.
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