Trump says 'draconian' sanctions for Iran may happen as Strait of Hormuz naval blockade continues

FOX Business correspondent Edward Lawrence asks President Donald Trump about the Treasury Secretary's warning of incoming impactful sanctions on Iran during an event with tech executives Wednesday at the White House.

FOX Business correspondent Edward Lawrence asks President Donald Trump on Wednesday, Aug. 19, 2026, at the White House about the Treasury Secretary's warning of incoming impactful sanctions on Iran. Despite tensions, a naval blockade remains highly effective, Trump says, while domestic oil production in Texas, Alaska, and Louisiana helps stabilize prices, around $84 to $85 dollars a barrel.