US army 'defeat' in Iran confirmed as Trump drops military, reveals new plan amid Hormuz failure?

The U.S. intensifies its economic war against Iran as President Donald Trump pivots from military pressure to sweeping new sanctions amid the ongoing Strait of Hormuz crisis. Treasury Secretary Scott Bessent has warned countries and financial institutions against purchasing Iranian oil, with China emerging as a key focus due to its dominant role in Tehran’s export market. As the naval blockade faces scrutiny and mixed enforcement reports, Washington is now targeting Iran’s “shadow fleet,” banks, and global trade networks to choke off revenue streams. With tensions rising and diplomacy uncertain, the latest sanctions signal a high-stakes escalation in the economic dimension of the Iran-U.S. conflict.