Treasury Secretary Scott Bessent says the Trump administration has moved beyond maximum pressure on Iran and is now running what he calls an absolute isolation campaign, aimed squarely at Tehran's leadership and its wealthy, well-connected elites. In his telling, restrictions on flights and financial access mean Iranian officials can no longer travel freely to visit family in London, friends in Paris, or reach money held in Switzerland. Bessent said the effort goes well beyond sanctions, pointing to the US naval blockade of Iranian shipping, continuing maritime interdictions, and seizures of cryptocurrency linked to Iran. These are the administration's own claims, and Iran has not accepted that its leaders are being squeezed in this way.

Bessent also argued that Iran cannot stop oil from moving through the Strait of Hormuz, brushing aside Tehran's threats to close the vital shipping lane. He has previously predicted the blockade will eventually leave Iran with no oil on the water to sell. The claim comes as the waterway has become increasingly dangerous, with several tankers hit by projectiles in recent weeks and the US disabling ships that try to break the blockade. With talks stalled and both sides escalating at sea and in the financial system, the question hanging over the standoff is whether pressure on Iran's elite will force a change of course or only harden Tehran's resistance.