U.S. Vice President J. D. Vance said Washington’s approach toward Iran had entered a new period, describing economic pressure as its most effective tool.
Washington’s Iran policy
Vance assessed developments in Iran during a podcast appearance on Thursday. Arguing that the United States needed to maintain economic pressure to achieve its objectives toward Tehran, Vance said Washington would continue using this method.
Vance described the Strait of Hormuz as a pressure tool in Iran’s hands. He claimed that they had secured the passage of large quantities of oil through the strait despite attacks on commercial vessels.
Energy prices and economic pressure
Claiming that the U.S. administration had succeeded in significantly lowering fuel prices in the country, Vance argued that economic pressure would be placed on Tehran if Washington reduced energy prices in the United States and punished Iran for attacks on commercial vessels.
Vance said this pressure could change Iran’s calculations about the nature of the agreement it wants to reach with the United States, adding: “We have entered a new phase in which the most effective tool we have is the economic pressure we can apply to them.”
Trump announces economic war against Iran
U.S. President Donald Trump also announced on Thursday that he had declared an “unprecedented economic war” against Iran. Trump warned countries supporting Tehran that they would face severe economic consequences.