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,” according to Treasury Secretary Scott Bessent.
“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 an interview with Newsmax, without elaborating further.
His statements come as U.S. Defense Secretary Pete Hegseth reportedly said late Thursday stateside that the U.S. 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 over 250 days in the Middle East. Its deployment had been expected to end in May.
The George Washington strike group departed Vietnam on Aug. 12, the Navy said in a statement.
Hegseth also told reporters that reports about poor conditions aboard the Lincoln, including food shortages, declining morale, and even attempts by sailors to jump overboard, were “completely misrepresented.”
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.
