Iran War Strait of Hormuz
A small boat sails past cargo ships and other commercial vessels anchored in the Strait of Hormuz off Bandar Abbas, Iran, Wednesday, Aug. 5, 2026.
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Iran says it is in the final stage of drafting an agreement on the Strait of Hormuz waterway with Oman. At least two ships were hit in the strait in the past week, while several others reported near misses or warnings from entities claiming to represent Iran’s Revolutionary Guard. Yemen's Houthi rebels attacked government forces, killing at least 30 in one of the biggest such assaults since a 2022 truce. Two Israeli soldiers have been killed in southern Lebanon.
Treasury Secretary Scott Bessent has announced a new round of sanctions aimed at Iran. At a news conference Monday, he also warned every country that does business with the Islamic Republic to sever those financial ties or face retaliation from the United States. The sanctions aim to further cut off Iran from the rest of the world economy after President Donald Trump pledged last week to unleash an “economic D-Day” against Tehran. Washington has promised the new sanctions would put even more pressure on an Iranian economy already battered by previous sanctions and a U.S. naval blockade.
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