Starting Next Week. The US Is Preparing to Impose a Harder Economic Isolation on Iran Than Before

JAKARTA. - US Treasury Secretary Scott Bessent said his country would implement unprecedented economic sanctions against Iran starting next week.

"Look forward to further announcements next week as we will implement measures that have never existed in the history of economic isolation against a country," Bessent said in an interview with Newsmax, quoted by Sputnik on Friday, August 14.

Bessent added this step would include a combination of unprecedented economic isolation and further blocking of the Strait of Hormuz.

Although Tehran and Washington have signed a memorandum of understanding to end the conflict that began on February 28, on July 8, US President Donald Trump announced that the ceasefire was no longer in effect.

Since then, US forces have launched a series of attacks on Iran. The US Central Command (CENTCOM) argues that the attacks are a response to Iranian actions targeting commercial vessels crossing the Strait of Hormuz.

Iran did not stay silent. The military retaliated by attacking US bases in the Middle East.

In early August, Trump announced he was calling off the attack on Iran in light of the potential for a peace deal, which included opening the Strait of Hormuz and an agreement on the nuclear program.

Meanwhile, the Iranian Foreign Ministry stated that Iran and Oman had agreed on the geographical details of the shipping route for ships crossing the strait.