Trump says US has 'draconian sanctions' ready for Iran, asserts Strait of Hormuz open

US President Donald Trump said Wednesday that Washington has 'very draconian sanctions' available against Iran and indicated further measures could be announced, while asserting that the Strait of Hormuz remained open and that the naval blockade had been 'extremely effective.'

Speaking to technology leaders, Trump was asked about possible sanctions on Iran. He replied, 'We have things that we could sanction. We have very draconian sanctions, and we'll see what happens.'

Trump said the US would decide its next course of action based on developments, adding that the situation could either lead to a major drop in oil prices or a continuation of the current measures. He said, 'It'll either be extremely good, and oil prices are going to drop like a rock or we'll continue to do exact...'