US says lower oil prices priority in Iran war

US Vice President JD Vance said on Thursday that lowering gasoline prices for American consumers is now Washington's top goal in the Iran war, ahead of the nuclear issue. Treasury Secretary Scott Bessent added that fresh economic measures aimed at squeezing Tehran are about to be imposed, according to Business Recorder.

The shift reflects the leverage Iran has gained by closing the Strait of Hormuz, a key fuel route. Vance told Fox News that stopping Iran from acquiring a nuclear weapon, the reason Trump has repeatedly cited for the conflict, now comes second to restoring free oil flow through the strait. He noted that prices have fallen considerably from their peak soon after hostilities began, though he said Washington wants fuel to stay cheap for Americans.

Bessent warned of unprecedented economic isolation for Iran and said new steps are expected next week. Trump, meanwhile, described his approach as low-key and said Washington is watching Iran's inflation and money shortage. Iran has put forward conditions for reopening the strait, including ending the war, lifting the US port blockade, ending sanctions, releasing frozen assets and paying compensation, which Washington is unlikely to accept. These demands mirror a June memorandum of understanding that fell apart when fighting resumed.