Shafaq News- Washington/ Tehran

US President Donald Trump on Friday defended the war in Iran as a conflict fought for the United States, as his administration intensified economic pressure on Tehran and Treasury Secretary Scott Bessent pointed to a sharp decline in Iran's oil export revenues.

Trump accused leftists and Democrats of preferring a US defeat in Iran over a victory for his administration.

"These are very sick people who suffer from serious TDS, sometimes referred to as TRUMP DERANGEMENT SYNDROME," he wrote on Truth Social.

Bessent said Iran's oil export lifeline is increasingly constrained, with crude accumulating on vessels stranded in the Strait of Hormuz. In a post on X, he noted that no Iranian oil shipments have passed to China since the blockade was reinstated.

Since the U.S. reinstated its blockade, no Iranian crude cargoes have successfully transited the Strait of Hormuz to China. Inventory cannot be replenished as crude piles up aboard vessels trapped inside the strait. Iran’s export lifeline is being cut off: stranded oil, finite… pic.twitter.com/isnCgq5V1T

— Treasury Secretary Scott Bessent (@SecScottBessent) September 4, 2026

Earlier today, the US Treasury Department sanctioned Turkiye-based Golden Global Bank and two subsidiaries, accusing the financial institution of facilitating tens of millions of dollars in transactions for Iran's Islamic Revolutionary Guard Corps-Quds Force (IRGC-QF).

"Financial institutions continue to find out the hard way that we are serious about Operation Economic Outcast," Bessent warned.

The campaign, launched on August 24, targets Iranian revenue streams, oil transactions, sanctions-evasion networks and financial channels that Washington alleges support weapons procurement and Tehran-aligned armed groups. Under the restrictions, any US-based assets belonging to the designated entities are frozen, while transactions involving them are generally prohibited. Foreign banks conducting significant business with the targets could also face limits on access to the American financial system.

Iran, however, indicated that it could launch preemptive operations whenever it perceives a threat, signaling readiness for further military action.