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14 Aug 2026, 13:33

Donald Trump, the President of the United States, emphasized his administration's plan to intensify economic pressure on the Islamic Republic and bring "Iran's economic isolation to an unprecedented level" by resharing an interview with Scott Basset, the U.S. Treasury Secretary, on Newsmax in Truth Social.

In this interview, Basset announced new actions against the Islamic Republic to be revealed next week. He added that Washington intends to implement a policy that includes severe economic isolation of the Islamic Republic and continued blockade in the Strait of Hormuz.

According to Scott Basset, this blockade will prevent any goods from entering or leaving Iranian ports.
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The U.S. Treasury Secretary also warned Tehran on Thursday, August 23, about the imposition of further economic sanctions, threatening to place Iran under economic isolation "in a way that the world has never seen before."

Scott Basset told the conservative television network "Newsmax": "The continuation of the blockade in the Strait of Hormuz... will prevent anything from entering or leaving Iranian ports." He added: "Expect more news and announcements on this matter next week."

Basset described a dual approach that includes financial pressure and a physical blockade of the ports. Trump recently stated that he would only refrain from attacking Iran again if a quick agreement to reopen the Strait of Hormuz is reached.

Iran has set a list of conditions for reopening this passage, which is unlikely to be accepted by the Trump administration: an end to the war on all fronts, lifting the blockade of Iranian ports by the U.S., ending sanctions, releasing frozen assets, and compensating for wartime damages.
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