US senator criticises economic 'D-Day' against Iran, says 'Trump is losing' US Senator Chris Murphy has criticised the White House’s new sanctions on Iran, warning that American citizens are "paying a huge, huge cost" for the decision. "'D-Day' is desperate window dressing. Iran is winning the war.
UN offers to facilitate fertiliser transit through Strait of Hormuz UN Secretary-General Antonio Guterres offered on Monday to facilitate the transit of fertiliser through the Strait of Hormuz which has been disrupted as a result of the US-Israel war on Iran. “The purpose is simple: to reduce immediate risks, support more orderly and predictable transit and help rebuild the confidence necessary for diplomacy and de-escalation,” he said at a news conference. Guterres said the UN “would not authorise passage” through the strait or “alter the rights or obligations” of states under international law, but rather serve as a “neutral facilitator”, registering and verifying ships carrying fertiliser and related products.
Netanyahu congratulates Trump on expanded Iran sanctions Israeli Prime Minister Benjamin Netanyahu congratulated US President Donald Trump and Treasury Secretary Scott Bessent on the announcement of new sanctions on Iran, dubbed "economic D-Day" by the administration, on Monday, according to a statement from the prime minister's office posted to social media. "You justly exact a steep price from that cruel dictatorship and from those who assist its continued aggression," the statement said. Prime Minister Benjamin Netanyahu: Congratulations President @realDonaldTrump and Secretary @SecScottBessent on the latest sanctions against the Iranian regime.
Bessent admits sanctions may blow up global economy in apparent slip US Treasury Secretary says that American sanctions on Iran could collapse the global economy, in an apparent slip while answering a question from a reporter at a press conference in Washington, DC to announce the santions. When asked by a reporter why the Treasury doesn't impose the sanctions today, Bessent replied "why would I want to blow up the global financial system? " He went on to elaborate that the US wants to give countries the "opportunity" to abide by their sanctions as a "warning shot" which, if ignored, will result in such nations being removed from the US dollar system.
Iran has a 'two year plan' to counter sanctions, economic minister says Iranian Economy Minister Ali Madanizadeh said that the country has a "two-year plan" to counter new US sanctions announced on Monday, predicting the US will suffer "another defeat" as a result. "They have done everything they could to test the determination of the Iranian people and the country's officials, but they have failed every time. It seems they wished to suffer yet another defeat," Madanizadeh told state television.
Trump unleashes swathe of sanctions on Iran 'enablers' Submitted by Yasmine El-Sabawi on Mon, 08/24/2026 - 18:23 The US Treasury Secretary did not name the targets of 'Operation Economic Outcast' or offer a timeline for implementation US Treasury Secretary Scott Bessent speaks to reporters to outline further sanctions against Iran, at the Treasury Department in Washington, DC on 24 August 2026 (Evelyn Hockstein/Reuters) Off US Treasury Secretary Scott Bessent on Monday announced a new wave of sanctions against Iran and its "enablers", towards what he described as an "asphyxiation of this regime" amid the standoff in the Strait of Hormuz. "Iran now faces a very clear choice, with only two paths before them: complete global isolation and a subsistence economy, or a path back to normalcy with an opportunity to rejoin the global economy," Bessent told reporters in Washington, DC. It remains unclear how "a path to normalcy" may work, given the Trump administration has only ever tightened sanctions on Iran since its first iteration in the White House in 2017.
Iran Parliament Speaker: US not in an economic position to impose more restrictions on other countries Iranian Parliament Speaker Mohammad Bagher Ghalibaf said on Monday that the US is not in an economic position to continue restricting its relations with other countries as the US Treasury announced "unprecedented" sanctions on Iran. In a post on X, Ghalibaf said Iran’s trading partners "have made it clear that they don't take these statements into account anywhere". This comes as US Treasury Secretary Scott Bessent threatened countries allowing Iranian money laundering to be removed from the US dollar, claiming that any economic engagement with Iran "will expose those responsible to the full reach of American power".
US announces 'unprecedented' sanctions against Iran US Treasury Secretary Scott Bessent laid out what he described as an "unprecedented" US sanctions campaign against Iran on Monday, warning that every country has a "finite timeline" to shut down activities identified by Washington or face action from the Treasury. The new Iran sanctions will include those on tech, gold, aviation, shipping and covers nearly 60 entities, individuals and vessels. Bessent said President Donald Trump was making phone calls to world leaders with specific requests to cease their interactions with Iran.
Iran blacklists 45 tankers in Hormuz escalation Iran said that it has blacklisted 45 tankers for violating its rules to cross the Strait of Hormuz, adding that it would take action against future transits and any vessels transferring loads with them. The announcement comes ahead of Washington's expected announcement later on Monday of new measures to isolate the Iranian economy, while the Iranian foreign ministry warned earlier of "consequences" for countries joining in the US economic sanctions on the country.
Trump says Iran 'collapsing' ahead of sanctions announcement President Donald Trump said Monday that Iran is "collapsing" hours before the US government was set to announce details of what it says will be crushing sanctions against Tehran. "IRAN IS COMPLETELY COLLAPSING!!! " Trump posted in his trademark all-caps style on his social media platform Truth Social.
Sanctions didn't break Iran. They hardened it Submitted by Mahyar Ramezankhani on Fri, 08/21/2026 - 20:00 Tehran was denied a decade of growth, and given in exchange a tolerance for punishment that few open economies possess Iranian banknotes - households are paying the price (Atta Kenare/AFP) On The Strait of Hormuz has been effectively closed for most of the past six months. Brent crude is trading just below $90 a barrel, and rose about five percent in a single session earlier this month.
Iran's currency drops to record low, tracking websites show Iran's currency has dropped to a record low of more than 2,000,000 rials per US dollar, two websites tracking the free market rate showed on Monday. Reporting by Reuters.
Iran warns of 'consequences' for countries joining US economic sanctions The Iranian Foreign Ministry warned on Monday that there would be "consequences" for countries joining the US campaign of economic pressure against the Islamic Republic. "The necessary warnings have certainly been issued, as any complicity with America in implementing its aggressive actions against Iran will undoubtedly have consequences," ministry spokesman Esmaeil Baghaei said during a weekly press conference. His comments come ahead of Washington's expected announcement later on Monday of new measures to isolate the Iranian economy.
Less than 20 ships transit Strait of Hormuz over weekend Fewer than 20 vessels have travelled through the Strait of Hormuz during the weekend, data from Kpler showed. Four vessels crossed the strait on Sunday, with 13 others transiting on Saturday. The full count remains unclear, as some ships had switched off transponders on their way through the key waterway.
Iranian parliamentary committee approves provision to charge ships in Hormuz Iranian parliament advanced a provision in a draft law on Sunday allowing Tehran to charge ships passing through the Strait of Hormuz. The parliament's National Security and Foreign Policy Commission approved Article 3 of its "Strategic Action to Ensure the Security and Progress of the Strait of Hormuz" plan, Iran's IRNA news agency reported. Based on the article, a fee will be charged for services "including maritime, environmental, fueling under special conditions, insurance, safety, and other services provided in the Strait of Hormuz.
Morning recap Good morning Middle East Eye readers. If you're just joining us, here are key developments from across the region: • Tehran has warned that any state joining US sanctions against Iran will be considered an enemy, threatening to block oil exports through Hormuz. • US president Donald Trump, meanwhile, again posted an image on his Truth Social account, claiming Hormuz as US territory.
Six EU countries urge windfall tax on energy firms as profits soar due to Iran war Six European Countries are stepping up calls for a bloc-wide windfall tax on oil companies as profits soar due to the Middle East war, according to a letter seen by AFP. The finance ministers of Germany, Italy, Austria, Poland and Portugal, along with Spain's economy minister, sent the joint letter to the finance minister of Ireland, which holds the current EU presidency. "Oil companies are enjoying overall profitability and margins on refined products that exceed the rise in crude oil prices," it read.
Iran threatens to block Hormuz if neighbours join US sanctions Tehran would target the interests of countries that help the United States in its economic pressure campaign against Iran , the secretary of Iran's Supreme National Security Council, Mohsen Rezaei, stated on Saturday. "We are telling all nearby countries not to join the US economic war, otherwise we will consider them as enemies," Rezaei said, speaking to state television. He claimed that Trump had been persuaded by Netanyahu to wage an economic war on Iran, saying "The enemy is counting on division and disagreement," while Iran remained "unified.
US 'economic terrorism' will not break people's will: Iranian Vice President Iran's First Vice President Mohammad Reza Aref said on Saturday that the government will not allow what he called "America's economic terrorism" to undermine the country's economic stability and people's livelihoods. “The experience of the Islamic Revolution has shown that economic pressure is incapable of altering the will of the Iranian nation and instead yields the opposite result,” Aref said in a post on X. His remarks came after US President Donald Trump announced new sanctions against Tehran, describing the move as "the most crushing economic operation” against Iran.
US sanctions 'declaration of war on all nations', Iran says Iran’s foreign ministry spokesperson, Esmaeil Baghaei, says new US sanctions against Iran amounted to a “declaration of war” on all countries and went beyond “an illegal economic war against a single nation”, according to Iran’s Fars news agency. Baghaei said: “The announcement of new sanctions represents an attempt by the United States to exert extraterritorial sovereignty over all independent UN member states. ” “No government has the right to force foreign banks, enterprises, or airports, each operating under the exclusive jurisdiction of their own sovereignty, to refrain from engaging in legitimate trade with a third country.
