Iran Warns It Could Block Gulf Oil Shipments Amid New US Sanctions

Former IRGC commander Mohsen Rezaee warned August 24 that "not a single drop of oil will be exported" through the Strait of Hormuz or Persian Gulf if US sanctions continue. The threat came as Treasury Secretary Bessent prepared to unveil additional sanctions the same day. About a fifth of global seaborne crude passes through Hormuz, making the chokepoint critical to world energy markets.