US Imposes Fresh Weekly Sanctions on Iran as Trump Claims Near-Total Hormuz Control
Bessent announces new banking-targeted measures every week under Operation Economic Outcast as Trump tells Fox News Iran is a "defeated country" and the US has cleared all mines from the strait, even as an Iranian tanker strike proves otherwise
ERBIL (Kurdistan 24) - The United States announced on Monday that it plans to impose additional sanctions on Iran on a weekly basis as part of Operation Economic Outcast, with Treasury Secretary Scott Bessent confirming that new measures targeting banks will begin immediately, while President Donald Trump separately declared to Fox News that Iran has become a defeated country, that the United States has near-total control of the Strait of Hormuz, and that all mines in the waterway have been cleared, even as Iranian naval mines struck and set fire to an oil tanker in the strait on the same day.
Bessent told Reuters on Monday that Washington plans to impose additional secondary sanctions on Iran on a weekly basis, with new measures beginning by targeting banks. He explained that the United States is informing banks that holding Iranian money or assisting Iran is prohibited, and added that America's blockade of Iranian ports has contributed to reducing China's oil imports from Iran, marking the first time a senior US official has publicly claimed that the naval blockade is affecting the volume of Chinese purchases of Iranian crude.
Trump told Fox News on Monday that Iran cannot and will never be allowed to possess a nuclear weapon, warning that if Tehran acquired one, the Middle East would face the risk of annihilation and that Israel, the United States, or Europe would face a direct threat. He added that his country needed to intervene in the Middle East to prevent Iran from using a nuclear weapon against Israel, neighboring countries, and potentially against America itself.
On the Strait of Hormuz, Trump declared that through success in the war, the United States has achieved near-total control of the strait, reiterating that American forces, in cooperation with other countries, have cleared all mines from the waterway. He described Iran as potentially becoming a source of annoyance but insisted the United States controls the strait, adding in a separate part of his remarks that, in his assessment, Iran has become a "defeated country" as a result of the blockade of its ports and America's financial pressure. Trump also stated that Iran's Kharg Island will be destroyed and become a ruin, without providing further detail about the nature or timing of events at the island.
The claims about Hormuz mine clearance and near-total US control were directly contradicted on the same day by the IRGC Navy's announcement that an oil tanker caught fire in the strait after striking two Iranian naval mines while attempting to transit an unauthorized route in the southern approach to the waterway. The IRGC warned all shipping companies that any vessel violating its navigation rules will share the same fate as the burning tanker, and called on shipping firms not to be drawn into the encouragement and manipulation of the American military.
The escalating American statements and Iranian military incidents come as several hours of military developments took place in and around the Strait of Hormuz on Monday, in a waterway that remains one of the world's most critical oil transit routes. Iran simultaneously announced it would respond to American strikes and target US bases in the region, directly challenging Washington's claim of control over the waterway.
The announcement of weekly sanctions represents a significant escalation in the pace of Operation Economic Outcast's enforcement rhythm. Bessent had previously warned that unprecedented measures were coming and that financial institutions around the world face heightened sanctions risk due to their exposure to Iranian financial facilitators. The shift to a weekly sanctions cadence signals that Washington intends to maintain relentless pressure on Iran's remaining financial networks without allowing Tehran or its financial enablers time to adapt between designation rounds.