Iran Threatens to Block Every Drop of Oil Through Strait of Hormuz if Economic War Continues; Retired US General Warns of Permanent Loss of 15 Gulf Bases

Iranian security official Mohsen Rezaee warned nations against participating in economic measures promoted by President Trump, stating that Washington's actions could impact oil flows through the Strait of Hormuz.

Not a Single Drop Will Flow

In an X post published on Sunday, Rezaee warned that if the "economic war continues," "not a single drop of oil" would be exported through the Strait of Hormuz or the Persian Gulf, reiterating his earlier warning to countries involved in US measures.

He added that Tehran would "consider any country's participation in or support for the US economic war against the Iranian people as an act of war."

If the economic war continues, not a single drop of oil will be exported, neither through the Strait of Hormuz nor from anywhere in the Persian Gulf. Iran will consider any country's participation in or support for the US economic war against the Iranian people as an act of war.

— محسن رضایی August 23, 2026

According to data collected by Marine Traffic, which tracks global vessel movements, only a few ships were traversing the region at the time of writing.

Economic Sanctions

Trump earlier stated that the administration was preparing unprecedented financial sanctions against Iran, a move also supported by US Vice President JD Vance and Treasury Secretary Scott Bessent.

While Vance backed these measures, he also noted that oil was flowing through the Strait of Hormuz, a claim echoed by Trump's Energy Secretary Chris Wright.

Trump's Environmental Protection Agency recently issued a waiver allowing early release of winter gasoline, touting the move as relief for high fuel prices.

Retired US General Says US May Have Lost Access to 15 Gulf Bases

Retired US Army General Barry R. McCaffrey stated that he believes the US military "may have permanently lost access to 15 Persian Gulf bases."

McCaffrey added that the US would have to "renegotiate access in western Saudi Arabia, Israel, and southern Europe," noting that Tehran "is now in a position to control access to Gulf states."

My judgment is that US armed forces may have permanently lost access to 15 Persian Gulf bases. Iran is now in a position to control access to Gulf states. The US will have to renegotiate access in western Saudi Arabia, Israel, and southern Europe.

— Barry R McCaffrey August 22, 2026

Iran reportedly had earlier planned strikes on US targets in southern Europe, including Bulgaria's Bezmer Air Base—where US KC-135 refueling aircraft had been temporarily stationed. According to Bulgaria's defense minister, two US tankers left the base on August 21.

Analysts at Kpler also claimed that Iran has "partially lost" control of the Strait of Hormuz, stating that vessels are using an Omani route through the waterway.

Oil and Gas Prices

At the time of writing, West Texas Intermediate crude was trading at $85.64 per barrel, while Brent crude stood at $93.05 per barrel at press time. Meanwhile, the oil ETF United States Oil Fund fell 1.09% to $133.17 in after-hours trading.

The national average gasoline price remained above $4 on Sunday at $4.0986 per gallon, while the national average diesel price rose to $5.6074 per gallon on Sunday. California's average diesel price surged to $7.1423 per gallon.