Trump Hints at Sustained Economic Pressure on Iran(Update) August 10, 2026, 2:55 PM GMT: Article updated with comment from Iran’s foreign ministry in the fourth paragraph. The president’s comments mark a shift from his repeated threats to escalate the bombing campaign against Iran and come amid lingering talks between Tehran and Oman to reopen Hormuz. Iran has said it’s nearing a deal, while laying out a list of demands for Washington to meet before shipping can resume – including the lifting of sanctions. “Its reopening is contingent on the US ceasing its illegal actions, lifting the siege and compensating for damages.” The currency, meanwhile, has fallen more than 10 percent from its prewar level, adding to the economic pressure on Iranians.