Treasury Secretary Scott Bessent speaking with CNBC on Aug. 4th, 2026.
CNBC
The U.S. will be applying economic measures “that have never been seen on Iran,” Treasury Secretary Scott Bessent said.
“It will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz that will keep anything from going in or out of the Iranian ports,” Bessent said in a Newsmax interview Thursday night, without elaborating further.
As the military conflict in Iran appears mired in a strategic stalemate — with traffic through the strait constrained by threats and few hints of any diplomatic solution emerging — the Trump administration is ratcheting up its rhetorical pressure.
President Donald Trump claimed Friday that after the U.S. defeats Iran, “pretty soon I’ll be declaring the Hormuz Strait a territory of the United States.”
Trump, who in the past has approvingly cited the phrase “to the victor belong the spoils,” has previously floated the possibility that the U.S. could try to impose tolls in the strait once the conflict ends, though he later dropped that idea. The strait was an open, un-tolled international waterway before the U.S. and Israel started the war in late February by launching strikes against Iran.
Bessent’s comments to Newsmax came as U.S. Defense Secretary Pete Hegseth reportedly said late Thursday that the military can keep a naval blockade of Iran going “indefinitely.” The Navy will rotate ships in and out “as we have, and we’ll continue to,” Hegseth told reporters.
Media reports have said that the U.S. aircraft carrier USS George Washington was headed to replace the USS Abraham Lincoln, which has been deployed for more than 250 days in the Middle East. Its deployment had been expected to end in May.
Arleigh Burke-class guided-missile destroyer USS Frank E. Petersen Jr. (DDG 121) sails behind the Nimitz-class aircraft carrier USS Abraham Lincoln (CVN 72), June 27, 2026. Frank E. Petersen Jr. is deployed to the U.S. 5th Fleet area of operations to support maritime security and stability in the Middle East.
Courtesy: U.S. Navy
After Hegseth’s comments, Rep. Mike Levin, D-Calif., said on X that he had sent a letter to Hegseth and acting Secretary of the Navy Hung Cao to express serious concerns about conditions aboard the Lincoln.
“The reports coming from military families and loved ones about the conditions aboard the USS Lincoln are simply unacceptable. Reports include concerns of moldy showers, broken toilets, lack of hot water, lack of access to fresh produce, and supply shortages,” the letter said.
Sailors and Marines are also said to have an “overwhelming workload,” which is contributing to “extreme fatigue and burnout,” it said.
In a post on X, U.S. Central Command said that reports alleging a brawl aboard the carrier were false, and that no service members have died.
This came after Iranian media claimed on Tuesday that seven U.S. Navy personnel have been killed and several wounded “in a violent clash” on the Lincoln.
