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Trump escalates economic pressure
U.S. President Donald Trump announced that he would impose sanctions economic against Iran “a una escala «sin precedentes»” and warned that any country that helps Iran would face “enormes sanciones económicas.”
“Trump anunció un «Día D económico» contra Irán”
In a Truth Social post, Trump said, “Este será un día D económico,” and he wrote that “Contrabando de petróleo, líneas de intercambio, transferencias de efectivo, casas de cambio, registros de buques, empresas fachada: todo esto debe terminar YA.”
The same Reuters-linked reporting described Iran as fearing a worsening economic crisis as Trump threats of new sanctions approach, with Iran’s annual inflation rate reaching 66% in July and food prices up 128% year-over-year.
A separate Al Jazeera report said Trump announced the “most crushing economic operation ever taken against any country” on Iran and warned that “ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences.”
Blockade and talks deadlock
Al Jazeera reported that the United States threatened to maintain an “indefinite” naval blockade on Iranian ports while ceasefire talks remained in deadlock, and it cited U.S. Defense Secretary Pete Hegseth saying the U.S. Navy can maintain a blockade “indefinitely.”
In the same Al Jazeera account, Iran’s Persian Gulf Strait Authority (PGSA) posted on X that “The Strait of Hormuz remains blocked and will not be reopened until Iran’s conditions are accepted.”
ABC News described the expired 60-day memorandum of understanding between the U.S. and Iran and said Trump told Fox News he is “not in a hurry” to bring about a solution.
ABC News also quoted energy secretary Chris Wright saying, “The president is playing the long game,” as the administration previewed new sanctions alongside its naval blockade and noted that Trump wrote there were “no talks or conversations going on” with Iran.
Economic stakes and pressure
Al Jazeera reported that Iran’s parliament speaker and top negotiator Mohammad Bagher Ghalibaf told state media on Tuesday that the Strait of Hormuz would remain closed until the U.S. meets the expired MoU commitments, saying, “Until the commitments made by the United States in the memorandum of understanding... are implemented, the strait will not be opened.”
“the strait will not be opened”
The same Al Jazeera report said the U.S. Treasury Secretary Scott Bessent told Al Jazeera that the U.S. planned to inflict more economic damage on Tehran as early as this week and that the measures would be “never been seen in the history of economic isolation on a country.”
Aajil also described Trump’s comments to reporters at the White House that the Strait of Hormuz is fully under U.S. Navy control and that only ships approved by the United States can pass through it.
Meanwhile, Al Jazeera Net reported market effects tied to the Iran conflict, saying Brent crude October futures rose to $91.34 a barrel and U.S. WTI rose to $84.36, while spot gold fell 1.07% to $4,369.56 an ounce as Hormuz Strait concerns stayed dominant.
