Rabat – US President Donald Trump has signaled a shift toward economic pressure on Iran, holding off on a new major military offensive as Tehran faces mounting financial difficulties.
“We are low-keying it,” Trump declared in an interview with Axios, describing Washington’s approach to Tehran as “only semi-negotiating,” pointing to Iran’s surging inflation and severe cash shortages as signs that economic pressure is deepening.
Expanding on Iran’s financial pressure, Trump cited the country’s difficulty paying its troops and credited the US naval blockade, in place since April, with increasing pressure on Tehran. He also pointed to oil prices just above $75 a barrel, arguing that lower prices have eased the war’s economic impact on American consumers.
Meanwhile, Tehran continues to reject direct negotiations with Washington. Iranian Foreign Minister Abbas Araqchi emphasized that communications are strictly occurring through intermediaries while accusing the US of remaining in breach of the June interim agreement.
Hormuz reopening remains conditional
While Iran and Oman are in the final stages of establishing new shipping lanes through the Strait of Hormuz, Tehran maintains that the strategic waterway will not reopen without key US concessions, including sanctions relief, the release of frozen assets, compensation for war damage, an end to military threats, and removal of the US naval blockade.
Reinforcing that position, Iranian Foreign Ministry spokesperson Esmail Baghaei reiterated on Monday that reopening the Strait of Hormuz remains contingent on the US ending its blockade, even as talks with Oman over future shipping routes continue.
Although Trump has taken a more restrained approach, military action remains on the table. Vice President JD Vance noted that Washington is using a combination of diplomatic, economic, and military tools to resolve the conflict with Tehran.
