Washington DC - Treasury Secretary Scott Bessent on Thursday threatened to subject Iran to economic isolation "like the world has never seen before," adding that new measures are expected to come next week.

Bessent hinted at severe sanctions and renewed pressure on Iran over its blockage of the Strait of Hormuz and its success in fending off US and Israeli attacks over nearly six months of war.

"It will be a combination of economic isolation, like the world has never seen before," Bessent told conservative television network Newsmax.

"The continued blockade in the Strait of Hormuz… will keep anything from going in or out of the Iranian ports," he said. "Watch this space for more announcements coming next week."

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Bessent described a two-pronged approach featuring financial pressure and a physical blockade of the Islamic republic's ports.

Vice President JD Vance said earlier that the top US priority in the Iran war was bringing oil and gasoline prices down for Americans, with preventing Tehran from acquiring a nuclear weapon now ranking second in importance.

The claims contradict the Trump administration's previous justifications for its war of aggression, which has spiraled out of control across much of the Middle East and left numerous service members dead.

It also conflicts with the reality of oil and gasoline prices, which have skyrocketed since the war began in February.

Bessent's latest stance contrasts with remarks by Bessent on August 4, when he told CNBC that an agreement with Tehran to reopen the Strait of Hormuz could be reached within days.