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President Donald Trump walks to board Air Force One at Morristown Airport, Sunday, Aug. 9, 2026, in Morristown, N.J. Julia Demaree Nikhinson/AP hide caption WASHINGTON — President Donald Trump likes to say that he started his war with Iran after 50 years of economic pressure had failed to stop its nuclear weapons ambitions — but he's now betting that another financial squeeze can bring an end to that war. The Trump administration is hoping that months of bombing have pushed Iran's economy to a breaking point that will force its leadership to cave to demands to end its nuclear program and fully reopen the Strait of Hormuz to oil and natural gas tankers. The president on Monday said that since Iran is seeking compensation as part of any peace talks, he now intends to demand the same for the U.S. side.
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The Iran war largely closed the waterway involved in shipping roughly 20% of global oil supplies before the conflict — and attempts to reopen the strait have been short-lived as it has become a source of leverage for the Iranians in negotiations.
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President Donald Trump walks to board Air Force One at Morristown Airport, Sunday, Aug. 9, 2026, in Morristown, N.J. Julia Demaree Nikhinson/AP hide caption WASHINGTON — President Donald Trump likes to say that he started his war with Iran after 50 years of economic pressure had failed to stop its nuclear weapons ambitions — but he's now betting that another financial squeeze can bring an end to that war. The Trump administration is hoping that months of bombing have pushed Iran's economy to a breaking point that will force its leadership to cave to demands to end its nuclear program and fully reopen the Strait of Hormuz to oil and natural gas tankers. The president on Monday said that since Iran is seeking compensation as part of any peace talks, he now intends to demand the same for the U.S. side.
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