Topic: Oil Blockade

Treasury Secretary Scott Bessent is leading "Operation Economic Outcast," a campaign of secondary sanctions aimed at removing entities doing business with the IRGC from the US dollar system. Bessent claims a blockade has left only 30 million barrels of Iranian oil in the water and predicts the Strait of Hormuz will be bypassed by pipelines within two years. The strategy involves targeting illegitimate assets to potentially compensate victims of terror.

President Donald Trump issues a profane warning to Oman, threatening military action if they interfere with U.S. objectives in the Strait of Hormuz. Simultaneously, the administration shifts its Iran strategy from direct kinetic strikes to a long-term economic "stranglehold" following the expiration of a peace deal deadline. While Jared Kushner claims robust dialogue is occurring, Iran denies any back-channel talks, and global oil prices reach new highs.

Experts from the Rand Corporation and CNBC discuss the technical challenges of reopening the Strait of Hormuz, including the potential need for mine clearing. While narrow corridors could open in days, full commercial traffic may take weeks to normalize. Meanwhile, gasoline prices in Texas have dropped to $4.20, though California prices remain significantly higher due to state-specific regulations and taxes.

The United Nations is warning of a worsening humanitarian crisis in Cuba due to a U.S. oil blockade. The fuel shortage has led to massive power outages, the cancellation of flights, and the closure of resorts. The hosts question the strategic logic behind the blockade, noting that it is devastating the local population and forcing them to rely on tricycles for transport.

President Trump ordered a blockade of sanctioned oil tankers entering Venezuela, demanding the return of oil lands and assets previously nationalized by the Maduro and Chavez regimes. The UN Secretary-General Antonio Guterres called for de-escalation following a phone call with Maduro. The hosts provide context on the decade-long dispute involving Chevron and Exxon licenses in the region.