US: Tightening Iran's Isolation via G20, 'Zeroing Out' Its Oil Exports

The United States announced that Iran has not exported any oil from its waters since the resumption of the US naval blockade in mid-July, as Washington seeks to further isolate Tehran economically while hosting the finance ministers of the Group of Twenty (G20) next week.

White House advisor Stephen Miller said that what President Donald Trump has achieved against Iran represents “the greatest military achievement in the history of modern warfare,” adding that “Iran’s naval and air forces, radars, and military command structure are… finished.” Miller added that the Strait of Hormuz is open to the United States and closed to Iran.

In a related development, Newsmax cited a US Treasury Department official who said Treasury Secretary Scott Bessent will intensify efforts to economically isolate Iran during his meeting with his G20 counterparts next week. The same official clarified that US officials will emphasize to G20 members the importance of complying with sanctions imposed on Iran as the United States ramps up pressure on Tehran.

For its part, US Central Command (CENTCOM) announced that international navigation routes in the Strait of Hormuz have reopened following the removal of Iranian naval mines by its forces. CENTCOM Commander Brad Cooper said in a statement posted on the X platform yesterday that US forces had assisted approximately 1,500 commercial vessels in crossing the strait over the past few months, carrying nearly 750 million barrels of crude oil.

On the diplomatic and political front, Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani discussed with Turkish Foreign Minister Hakan Fidan efforts to de-escalate tensions in the region. The Qatari Ministry of Foreign Affairs said in a statement that Sheikh Mohammed bin Abdulrahman Al Thani affirmed during a phone call with Minister Fidan Qatar’s support for all efforts aimed at achieving a solution that ensures freedom of navigation and secures regional peace and stability.

Meanwhile, Iranian President Masoud Pezeshkian stated that US sanctions imposed on his country are harming the Iranian economy. In an interview broadcast on state television, Pezeshkian said, “Some claim that sanctions have no effect at all. I don’t really know how to respond to those people,” adding, “We are in a state of war, and we must accept the conditions imposed by war.”

The Iranian president noted that exports and imports had declined by between 25% and 35% in recent months, adding that gasoline prices would eventually rise “to keep pace with the decline in trade activity.”

On another note, the Iranian president said that Tehran would negotiate with the United States but remained cautious toward Washington, stressing that his country would honor its commitments only if the other side did the same. He added, “We can move forward if Iran’s actions are met with similar and proportional measures from the other side,” acknowledging that both sides might not achieve all their objectives. He continued, “The main issue is that we must adhere to the memorandum of understanding we drafted. When we sit at the negotiating table, we can talk to them.”

Earlier, Iranian Executive Vice President Mohammad Jafari had said that the US naval blockade on Iranian ports had prevented his country from importing sufficient quantities of gasoline to cover the shortfall in domestic production.