Heightened tensions as US prepares new sanctions against Iran

United States officials are set to announce what Treasury Secretary Scott Bessent termed an "economic D-Day" on Monday, August 24, 2026, targeting Iran with what are expected to be the most severe sanctions in history. The move follows President Donald Trump’s recent claims via social media that the Strait of Hormuz is now US territory, a statement that has sparked significant diplomatic friction. Tehran has condemned the upcoming measures, with Supreme National Security Council secretary Mohsen Rezaei threatening that any country supporting the U.S.-led economic campaign will be considered an enemy. Iran has warned it could block oil exports and target regional interests if the pressure continues.

Simultaneously, the Iranian Parliament has officially approved new transit fees for vessels navigating the Strait of Hormuz. A newly created body, the Persian Gulf Strait Authority, has placed 45 tankers—including several Greek-owned vessels—on a blacklist, threatening them with fines, detention, or seizure for alleged rule violations. Meanwhile, data from Kpler indicates that maritime traffic through the strategic chokepoint has already dropped significantly, with only four ships recorded on Sunday as tensions continue to disrupt global energy markets. While the U.S. prepares to unveil its sanctions package, Iranian leaders have described the measures as an ineffective "boomerang" that will ultimately harm American interests.