US tightens financial pressure and naval blockade on Iran
Updated
Updated · Fox News · May 3
US tightens financial pressure and naval blockade on Iran
5 articles · Updated · Fox News · May 3
Treasury Secretary Scott Bessent said Gulf states helped freeze Iranian assets and warned Iran may have to shut oil wells within a week as storage fills.
He said Washington is tracking offshore money flows to stop funds reaching the IRGC, while Trump has ordered Treasury to intensify what Bessent called "economic fury".
Bessent said Iran cannot pay its soldiers and predicted lower oil prices as non-Iranian supply reaches markets, with futures already weaker months ahead.
With Iran’s regime facing severe economic and military pressure, could continued US sanctions and blockades actually force change—or spark even greater instability?
As the Strait of Hormuz remains contested and oil prices surge, how close is the region to a broader conflict, and what might finally resolve the standoff?