Senior Trump officials are leaning on economic pressure to end the standoff over the Strait of Hormuz, with Vice President Vance calling low oil prices 'goal number one' and Karoline Leavitt insisting both war aims are equally important. Iran struck two UAE-linked ships in the strait Thursday, bringing August's total to six, while ship traffic through Hormuz has collapsed from over 130 vessels a day pre-war to roughly 13.
Trump joked — according to the White House — about declaring the strait US territory 'after we finish defeating Iran,' prompting Iran's deputy foreign minister to declare the strait will remain Iranian and 'only be closed and opened under Iran's command.' Treasury Secretary Bessent promised unprecedented new sanctions next week, while Defense Secretary Hegseth said the naval blockade can continue indefinitely, with the USS George Washington replacing the strained USS Abraham Lincoln.
Analysts at Eurasia Group warn the standoff will keep the risk of renewed closures high through the rest of 2026, as both sides gauge who cracks first — Tehran betting on time, Washington betting on sanctions, and oil prices sitting stubbornly under $90 a barrel.
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