Vice President JD Vance said keeping oil and gas prices low for Americans has become the Trump administration's top objective in the war with Iran, putting the economic consequences of the Strait of Hormuz crisis ahead of preventing Tehran from obtaining a nuclear weapon in his description of Washington's immediate priorities.
Speaking to Fox News, Vance said the administration's primary goal is keeping "oil and gas cheap for Americans all over our country." He added that "obviously goal number two is ensure that Iran never gets a nuclear weapon."
The comments underscore how the prolonged disruption of the Strait of Hormuz has changed the administration's calculations as the conflict continues without a diplomatic breakthrough. The narrow waterway is one of the world's most important energy transit routes, making continued disruption a direct threat to oil supplies and consumer energy costs.
Traffic through the strait remains near a standstill, while security risks for vessels attempting to make the passage have persisted. The United Arab Emirates said two tankers affiliated with the state-owned Abu Dhabi National Oil Company were attacked while attempting to transit the waterway, with the UAE Foreign Ministry blaming Iran.
Washington is meanwhile preparing to intensify pressure on Tehran rather than ease its campaign. Treasury Secretary Scott Bessent told Newsmax that the U.S. plans economic measures "that have never been seen on Iran," suggesting the administration intends to combine financial restrictions with continued pressure on Iranian maritime trade.
The approach, Bessent said, "will be a combination of economic isolation like the world has never seen before, and the continued blockade in the Strait of Hormuz that will keep anything from going in or out of the Iranian ports."
Bessent offered few details about what additional financial measures Washington intends to deploy. Asked about the next steps, he said only, "just watch this space."
President Donald Trump has similarly argued that economic pressure is weakening Iran enough to justify maintaining the current strategy, even while leaving military options available. Speaking to Real America's Voice this week, Trump portrayed Tehran as facing severe internal financial stress.
"They've got 300% inflation. Their currency has almost no value. They're not paying their soldiers. Their soldiers are leaving," Trump said.
Trump indicated that he favors continuing to squeeze Tehran economically rather than immediately shifting toward another major military escalation. "Economically, they are a mess. They can't borrow money. We control their money, what they had, which is a lot. They had a lot, and we have total control of it. I'm their banker," he said.
The administration's pressure campaign is unfolding as prospects for a negotiated settlement appear to be deteriorating. Trump said Monday that Washington would seek compensation from Iran for war-related damages after Tehran advanced its own demands for compensation, adding another point of contention to already difficult negotiations.
A senior Iranian official subsequently told Reuters that mediation efforts had failed to produce movement on one of Tehran's principal demands: a U.S. return to the interim agreement and a timetable for carrying out Washington's commitments.
"One of the issues that is being discussed via mediators is the U.S. returning to the interim agreement and defining a timeframe for implementing its commitments. There has been absolutely no progress on this issue," the Iranian official said.
