President Donald Trump said on Thursday that he has no plans to bomb Iran before the November 3 midterm elections, despite reports that his own administration had been preparing for another round of military attacks.

The president made the announcement in a post on Truth Social, writing:

"I want to make it clear to everybody that, while Iran is in very bad condition, both Economically and Militarily, and while the Blockade will remain in full force and effect, with Oil flowing in Record Numbers of Barrels through the Hormuz Strait (22 Million Barrels, last night alone, with not one barrel coming from, or going to, Iran!)."

The full statement was published on his Truth Social account. The Hormuz figures were central to his case that the blockade squeezes Iran financially while leaving global oil flows intact.

Trump takes strikes off the table with elections approaching

The announcement comes just 26 days before the midterm elections, in which Republicans must face an electorate worn down by the high cost of living brought on by the war's economic impact. The midterm contests will determine the composition of Congress, putting household economic sentiment squarely before the president's party.

As Cryptopolitan previously reported, there had been rumors that Washington was seriously considering another military operation before Election Day. According to those reports, American defense officials were running through scenarios for a strike on Iran's nuclear facilities as well as its economic facilities.

For weeks, the president had been telling his supporters that he needed to make one more important decision regarding Iran, implying that further battles might lie ahead. During a Tuesday visit to a new shipyard in Maryland, Trump hinted that America needed to do more against Tehran, even as other members of his administration believed the war was nearly over.

Trump now says American forces will not launch another attack before voters head to the polls. The pledge is framed strictly around the election calendar, and his post simultaneously confirmed that the blockade remains "in full force and effect" — meaning military restraint and economic pressure are moving on separate tracks. He described Iran as badly damaged, both financially and militarily, while insisting that the country would never be allowed to build a nuclear weapon.

Any further conflict would drive up global crude oil prices, which would ultimately reach U.S. consumers through gasoline costs, among other effects. Renewed inflation pressure just ahead of the midterm elections would not be what Trump's Republican supporters need.

Trump keeps Iran under economic pressure as Treasury expands sanctions

While the White House may hold off on further airstrikes, the economic war it is waging against Tehran continues to escalate.

On Thursday, the Office of Foreign Assets Control (OFAC), part of the U.S. Treasury Department, issued new sanctions targeting 27 firms, six individuals, and 22 vessels involved in the Iranian oil trade. OFAC designations generally freeze any property the listed parties hold under U.S. jurisdiction and bar American individuals and companies from transacting with them — a mechanism that extends Washington's enforcement reach well beyond its borders.

The measures apply to business entities operating in India, Turkey, China, the United Arab Emirates, the UK, and the Marshall Islands. They also cover firms that have handled cargo shipments, vessel management, and the sale of oil products on international platforms.

The designated ships carry everything from crude oil and processed fuels to liquefied petroleum gas, chemicals, and bitumen, operating under a range of national registrations — a pattern typical of the "shadow fleet" networks used to obscure the origins of sanctioned oil. Treasury specifically highlighted 17 vessels accused of helping Iran secretly move millions of barrels of oil and petrochemicals into markets across southern and eastern Asia despite existing American sanctions. Several Indian nationals and a Turkish citizen also face restrictions.

The latest action is part of Operation Economic Outcast, an American effort to choke off funds that Washington says support Tehran's war activities, missile development, cyber operations, and the Islamic Revolutionary Guard Corps (IRGC).

According to a senior Treasury official, this is allegedly the biggest action taken by the administration so far against Iran's last remaining network of hidden oil shipments. The department contends that the move will strip Iran of one of its few remaining sources of foreign income.

In addition, State Department spokesman Thomas "Tommy" Pigott said Washington is using diplomatic and economic efforts to target Iranian business interests. The agency has singled out ten entities, six people, and five vessels responsible for transferring Iran's petroleum and chemical products. Separately, the Treasury Department, under the leadership of Secretary Scott Bessent, placed restrictions on seventeen companies and vessels within the hidden shipping system.

With strikes ruled out until after November 3 but the blockade held in place, the near-term markers to watch are any further Treasury and State Department designations — and Trump's next word on Iran once the election is behind him.