IRGC Threatens U.S. Assets as Trump Says Iran ‘Collapsing Financially’ Amid Blockade

The Islamic Revolutionary Guard Corps threatened to deliver “crushing blows” to American assets in the Middle East as President Trump claimed the regime wants the Strait of Hormuz opened “immediately” due to its financial collapse. The IRGC said in a statement that it promises to deliver “crushing blows beyond the enemy’s imagination to its remaining assets in the region” and that its forces “remains at peak readiness and determination to continue the fight, prepared for a decisive, certain and immediate response to any threat or renewed aggression.”The UK Maritime Trade Operations (UKMTO) meanwhile reported that a container ship that came under fire by an IRGC gunboat some 15 nautical miles northeast of Oman. “A master of an outbound cargo ship reports having been fired upon and is now stopped in the water. Crew are safe and accounted for. There is no reported damage to the vessel,” UKMTO said. Mr. Trump, meanwhile, claimed in a post on Truth Social that Iran is “collapsing financially! They want the Strait of Hormuz opened immediately — Starving for cash! Losing 500 Million Dollars a day. Military and Police complaining that they are not getting paid. SOS!!!”Treasury Secretary Scott Bessent confirmed in a post on X that the U.S. Navy will continue the blockade of Iranian ports. “In a matter of days, Kharg Island storage will be full and the fragile Iranian oil wells will be shut in. Constraining Iran’s maritime trade directly targets the regime’s primary revenue lifelines,” Mr. Bessent said. “The Treasury Department will continue to apply maximum pressure through Economic Fury to systematically degrade Tehran’s ability to generate, move, and repatriate funds. Any person or vessel facilitating these flows — through covert trade and finance — risks exposure to U.S. sanctions,” he added. The U.S. will continue to “freeze the funds stolen by the corrupt leadership on behalf of the people of Iran,” Mr. Bessent concluded. Iran’s Agriculture Minister Gholamreza Nouri downplayed the impact of the blockade on the country’s economy. “Despite the US naval blockade, we have no problem in supplying basic goods and food because, due to the size of the country, it is possible to import from different borders,” he said. “About 85 percent of agricultural products and basic goods are produced domestically, so the country’s food security is established,” Mr. Nouri added. The president extended the ceasefire on Tuesday just hours before the ceasefire expired.The move was welcomed by Rafael Grossi, the head of the International Atomic Energy Agency, who called the talks to end the war a “complex process.”“I think it’s very important that an opportunity for peace is given,” he said. UN Secretary General Antonio Guterres’ spokesperson said Trump’s decision to extend the ceasefire will create “critical space for diplomacy and confidence-building between Iran and the United States.”

IRGC Threatens U.S. Assets as Trump Says Iran ‘Collapsing Financially’ Amid Blockade

More from the New York Sun

Back to the USSR, Russian Wait in Gas Lines — and Fume

Debbie Wasserman Schultz and the Democrats’ New Voting Math

Trump-Backed Candidate for Georgia Governor Loses His Primary to Billionaire First-Time Candidate

More from the New York Sun

Back to the USSR, Russian Wait in Gas Lines — and Fume

Debbie Wasserman Schultz and the Democrats’ New Voting Math

Trump-Backed Candidate for Georgia Governor Loses His Primary to Billionaire First-Time Candidate

Democrats Withhold Judgment on Clayton’s Nomination To Be Spy Chief, Choosing To Wait for Answers at Confirmation Hearing

Warsh’s First Press Conference as Fed Chairman Could Offer Clues About His Promised Reforms

Justice Department Seeks To Join Lawsuit Challenging Evanston’s Reparations Program

Hegseth Presses GOP Lawmakers for $350 Billion Pentagon Spending Increase Atop $1.1 Trillion Defense Appropriations

After Court Loss, East Village Group Says Fight Over Mamdani’s Homeless Intake Center Plan Is Far From Over