Treasury Secretary Scott Bessent said Iran's economy will collapse "probably within the next two weeks" and claimed "the straits are open," extending the US pressure campaign that has already severed much of Iran's air connectivity and banking access across the Middle East.

The prediction came even as Iran's rial appreciated 0.56% against the dollar overnight, though it has depreciated 2.18% over the week. Data showed only 10 commodity vessels crossed the Strait of Hormuz on Wednesday.

Bessent said this week that Operation Economic Outcast is "delivering results," citing the UAE halting all flights by Iranian airlines, Turkey and Oman stopping Mahan Air services, and top commercial banks in the UAE and Turkey ending transactions with Iran. Treasury teams have contacted more than 50 countries to demand action against Tehran. Iranian carriers keep flying to China, Turkey and Pakistan, and Beijing said it opposes the sanctions as lacking a basis in international law. Mohammad Mokhber, adviser to Iran's Supreme Leader, warned that "if Iran cannot operate flights and receive airport services, then no one in the region can either."