US President Donald Trump has asserted that Washington maintains total control over the Strait of Hormuz, describing the American naval blockade against Iran as "infallible" even as tensions over the strategic waterway continue.
"The only one that has control of the Strait of Hormuz right now is the United States Navy. We have a blockade that's been infallible. It's a steel wall. And we let people in that we want to let in, and those people come in, and they've been coming in and they're going out. We do not let them go into Iran. They're not admitted into the Strait to go to Iran. We control the Strait of Hormuz 100%," Trump said from the Oval Office.
#WATCH | On the Strait of Hormuz, US President Donald Trump says, "The only one that has control of the Strait of Hormuz right now is the United States Navy. We have a blockade that's been infallible. It's a steel wall. And we let people in that we want to let in, and those… pic.twitter.com/6GkMwJr0cI
— ANI (@ANI) August 10, 2026
The remarks come against the backdrop of a US naval blockade on Iranian ports in force since April this year, part of a wider conflict that broke out in February after American and Israeli strikes on Iranian military targets.
Tehran has demanded Washington lift the blockade and end the war before fully reopening the Strait, even as Iran and Oman are reported to be nearing a deal on managing shipping through the waterway.
Trump also signalled a hard line on any financial settlement with Tehran.
"You will find out.They asked for reparations, they asked for money for the damage that we've done. And I said, that's a good idea. Well, we're to ask for money for the damage they've done over a 50-year period. So if there's damages to be paid, I think Iran should pay those damages," he said, on the next steps in dealing with Iran.
ALSO READ: US Deploys 20 Warships In Hormuz Amid 'Semi-negotiations' With Iran, Redirects 55 Commercial Vessels
#WATCH | On the next steps with Iran, US President Donald Trump says, "You will find out... They asked for reparations, they asked for money for the damage that we've done. And I said, that's a good idea. Well, we're to ask for money for the damage they've done over a 50-year… pic.twitter.com/GNQImm7mhT
— ANI (@ANI) August 10, 2026
In a separate clip shared by journalist Eric Daugherty on X, Trump claimed Iran's economy was collapsing under the pressure, saying Tehran was "broke," had "no money" and was "not paying their soldiers," while citing inflation of 309% as of Sunday night.
ALSO READ: No More Military Offensive On Iran? Trump Signals At Economic Pressure Amid Hormuz Blockade
???? JUST NOW: President Trump confirms the economic OBLITERATION of Iran
— Eric Daugherty (@EricLDaugh) August 10, 2026
"They're BROKE."
"They have no money."
"They're not paying their soldiers."
"They have inflation of 309% as of last night!" ????
Treasury Sec. Scott Bessent is following their assets and will cause EVEN… pic.twitter.com/kprlU03fxw
He added that Treasury Secretary Scott Bessent was tracking Iranian assets and would "cause even more damage" ahead.
The comments come days after Trump called off a planned large-scale bombing campaign against Iran on August 8 to allow more room for diplomacy, even as the naval blockade remains firmly in place.
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