The Trump administration has imposed a naval blockade of Iranian ports alongside sweeping new sanctions targeting Tehran’s financial networks, oil smuggling operations, and regional allies. The US Treasury’s Office of Foreign Assets Control has sanctioned over 200 entities linked to Iranian businessman Mohammed Hossein Shamkhani’s network, and added Hezbollah to the target list on August 20 with measures described as unprecedented. The Strait of Hormuz, through which approximately a fifth of the world’s oil supply passes, sits at the center of the negotiations. Trump has also signaled willingness to impose secondary sanctions on countries and businesses that continue to support Iran’s economy, potentially affecting trading partners in Asia. The stated goal is to force Iran into a deal that ends the ongoing conflict between the two nations.
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