US-Iran War Live Updates: US Treasury Secretary Bessent reinstates ‘tough sanctions’ to collapse Iran govt
US Treasury Secretary Scott Bessent warns of “toughest sanctions” on Iran, threatening “tremendous consequences” for countries with economic ties. China and Iran criticize the move. Oman rejects escal
US Treasury Secretary Scott Bessent said Washington will impose the “toughest sanctions in history” to “collapse” the Iranian government, warning countries that maintain economic ties with Tehran of “tremendous consequences”.
China has criticised the US pressure campaign, saying further sanctions will not resolve existing conflicts, while Iran’s Foreign Ministry called the proposed measures “illegal and inhumane”. Oman, meanwhile, said lasting security in the Strait of Hormuz depends on regional peace and rejected further escalation.
US Central Command said American forces enforcing a naval blockade on Iranian ports have redirected 67 commercial ships, disabled three and boarded two others.
Tensions have also spread across the wider region, with the UKMTO reporting that six armed individuals boarded and hijacked a vessel off Yemen and forced it towards Somalia.
Follow for more developments in West Asia.
US-Iran War Live Updates: US House panel says Trump’s Iran pressure will crush economy
- The US House Foreign Affairs Committee Majority said President Donald Trump’s “Economic D-Day” campaign is putting unprecedented pressure on Iran’s economy.
- In a post on X, it said the measures would severely weaken the Iranian regime’s ability to fund terrorism and ultimately force it to its knees, while calling for the US to maintain its “maximum pressure” strategy.
President Trump is crushing Iran’s economy with the strongest economic measures ever taken.
This ‘Economic D-Day’ will decimate regime’s terror funding and force it to its knees.
Keep up the maximum pressure @POTUS! https://t.co/jaL7uCYveo
— House Foreign Affairs Committee Majority (@HouseForeignGOP) August 21, 2026
US-Iran War Live Updates: Ship traffic in Hormuz falls on stalled US-Iran peace talks
- Ship traffic through the Strait of Hormuz fell on Thursday as security concerns in West Asia intensified and US-Iran peace talks remained stalled, Reuters reported, citing preliminary data from ship-tracking firm Kpler.
- Seven commodity vessels crossed the key waterway, down from 14 a day earlier.
- Four were entering the Gulf and three were leaving, while no supertankers or LNG carriers were recorded.
- One large gas carrier carrying propane and butane exited via the Iranian route.
US-Iran War Live Updates: Iran to modernise defence industry in light of recent conflicts
- Iran’s Ministry of Defense and Armed Forces Logistics said that the country was modernising its defence industry in response to needs unveiled by the recent wars imposed on the country by the United States and Israel, according to PressTV.
- The recent imposed wars “were an opportunity to gain a more precise understanding of capabilities, reveal new needs, and chart the path for the future. We have learned never to stop,” the ministry said in a statement on Thursday.
US-Iran War Live Updates: West Asia war adds pressure to Europe’s winter-grade fuel supply
- The US-Iran war is adding pressure to an already tight global diesel market as Europe prepares to switch to winter-grade fuel according to data compiled by global shipping tracker Kpler.
- With West Asian crude exports sharply reduced, alternative supplies from India, China and Asia face regulatory, crude-sourcing or logistical constraints.
- This is leaving Europe increasingly dependent on US refiners, though low US inventories and a tightening domestic market could limit exports, supporting a firmer outlook for fourth-quarter diesel prices.
Europe faces a winter diesel squeeze
Europe’s transition to winter specification diesel is set to tighten an already constrained market, as fewer global refiners can supply the required cold-weather grades. Middle Eastern exports remain sharply reduced, while potential… pic.twitter.com/PUxOl4qYM6
— Kpler (@Kpler) August 20, 2026
US-Iran War Live Updates: Iran, Iraq reject Western interference
Iranian Parliament Speaker Mohammad Baqer Qalibaf said on Thursday at a ceremony marking the 40th day following the funeral ceremonies for Iran’s previous Supreme Leader Ayatollah Sayyed Ali Khamenei that Iran and Iraq had rejected attempts by US-led Western powers to dictate their future. Iran’s PressTV reported.
US-Iran War Live Updates: Crude prices head for sharply weekly gain
- Oil on track for a sharp weekly gain, as Washington’s drive to isolate Iran’s economy stoked fears of fresh disruption to global supply.
- Brent crude traded above $93 a barrel, putting it on course for a weekly rise of more than 5%.
- West Texas Intermediate for October eased towards $86 a barrel, breaking a five-session winning streak.
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US-Iran War Live Updates: US Senator critcises continued US involvement in Iran conflict
US Senator Mark Warner, vice-chairman of the Senate Intelligence Committee, criticised Washington’s continued involvement in the Iran conflict, warning that the prolonged war is putting American servicemembers at risk, driving up prices and weakening national security readiness. In a post on X, Warner questioned when President Donald Trump would end what he described as a “disastrous and deadly war”.
Original source: https://www.cnbctv18.com/technology/
