WASHINGTON — Treasury Secretary Scott Bessent said the United States will impose sweeping new economic measures next week to isolate Iran, describing the planned campaign as unprecedented in scope, money manager Bill Gunderson said Friday.
Bessent appeared on Newsmax Thursday and said the strategy would combine financial isolation with a continuing naval blockade of the Strait of Hormuz to cut off traffic flowing in and out of Iranian ports, according to Gunderson, who discussed the announcement on his “Best Stocks Now” radio program.
“It will be a combination of economic isolation like the world has never seen before”
— Treasury Secretary Scott Bessent, as attributed by Bill Gunderson
Defense Secretary Pete Hegseth separately stated the naval blockade of the strait can continue indefinitely. The carrier group enforcing the blockade is preparing to rotate: the USS Abraham Lincoln, deployed in the region for 250 days, is being relieved by the USS George Washington, Gunderson said.
Gunderson said cutting off Iran’s oil revenue — a major share of the country’s economy — is the central aim of the strategy, though he acknowledged Iran could attempt to route sales through black markets.
“You cut off that and they’re in trouble. It has to be the black market and selling to rogue nations and whatnot.”
— Bill Gunderson
Oil markets remained relatively stable despite the ongoing tensions. Crude oil prices stood near $82 per barrel Friday, according to Bloomberg.
The American Automobile Association reported the national average gasoline price climbed to $4.08 per gallon, up from $3.85 one month ago. Anchor Ballack New, reporting from Washington, tied a portion of the increase to ongoing U.S.-Iran military tensions.
The absence of new attacks on tankers in the past week contributed to a calmer session on Wall Street Friday, Gunderson said.
No timeline was provided for the USS George Washington’s arrival on station or the USS Abraham Lincoln’s departure.