UPDATE — this extends our earlier coverage: Iran Ties Hormuz Reopening to Sanctions Relief, Trump Rejects Demand

Iran has said it will only reopen the Strait of Hormuz to shipping if Washington eases sanctions — a demand President Trump has already rejected.

Now the Pacific-based USS George Washington has begun steaming toward the Middle East, France 24 reports, after accounts surfaced of mental-health strain and supply shortages aboard the USS Abraham Lincoln, deployed off Iran for months. Once it arrives, Washington will have two carrier strike groups in the region.

Treasury Secretary Scott Bessent said Thursday the US will subject Iran to economic isolation "like the world has never seen before," with new measures due next week, according to France 24's live coverage and The Edge Singapore.

The Strait of Hormuz carries roughly a fifth of the world's oil, so any escalation there moves markets well beyond the Gulf. A second carrier plus a sweeping sanctions threat gives Washington both a military and an economic lever at the same time.

HYPOTHESIS: the carrier move and the sanctions rollout are timed to squeeze Iran on two fronts, military and financial, without firing a shot. Supporting this: both land in the same week, and Bessent's language leans economic rather than military. Against it: France 24 ties the George Washington's redeployment partly to welfare problems aboard the Lincoln, not deliberate escalation, so the overlap could be coincidence rather than strategy.

What to watch: whether Iran answers next week's sanctions package with fresh threats against Hormuz shipping, and whether two carriers near Iran becomes the new posture rather than a routine rotation.