US President Donald Trump has declared that Washington possesses “very draconian sanctions” against Iran and suggested that further measures could be announced depending on developments.

He made these remarks while addressing technology leaders, stressing that the United States had multiple options available.

Trump explained that the next course of action could either result in a sharp drop in oil prices or a continuation of current measures. He stated, “It’ll either be extremely good, and oil prices are going to drop like a rock or we’ll continue to do exactly what we’re doing.”

He asserted that the Strait of Hormuz remained open and operational, claiming that the US naval blockade had been “extremely effective.” He emphasised that oil shipments were continuing despite tensions, noting, “Right now the Strait is open. A lot of boats are coming through. People aren’t reporting that.”

Trump described the blockade as “100% successful,” highlighting that it had been in place for quite some time, with only brief pauses when temporary deals were struck. He criticised Iran for failing to honour agreements, saying, “When they tell us one thing, and they do another.”

He pointed out that oil prices had remained stable despite fears of disruption, noting that predictions of $350 per barrel had not materialised. Instead, prices were around $84–85, with significant volumes of oil still being exported.

Trump also highlighted alternative sources of oil within the United States, mentioning Texas, Alaska and Louisiana. He argued that increased production and new pipelines had reduced reliance on the Strait of Hormuz, adding, “I think the Hormuz Strait is not going to be quite as important as it was in the past.”

He suggested that negotiations with Tehran could resume “maybe at some point,” but insisted that the current situation was “so good” that talks were not necessary at present. He reiterated that Iran must never be allowed to possess nuclear weapons, declaring, “Iran cannot have a nuclear weapon. You know why? Because they’d use it. And we’re not going to let them use it.”

Reports indicated that the US negotiating team had been instructed to pause discussions with Iran until Tehran was prepared to make concessions. Trump confirmed that no talks were currently scheduled, while maintaining that the Strait of Hormuz remained open.

Meanwhile, Iranian Parliament Speaker Mohammad Bagher Ghalibaf stated that Tehran would not reopen the Strait of Hormuz until the United States fulfilled commitments under a 14-point Memorandum of Understanding. These commitments included lifting the blockade, releasing frozen Iranian assets and easing oil sanctions.

The Strait of Hormuz continues to be the focal point of tensions between Washington and Tehran, with both sides issuing conflicting statements about its status.

The dispute underscores the strategic importance of the waterway, through which nearly a fifth of global oil supplies transit, and highlights the risk of further escalation in the region.

ANI