Donald Trump’s administration is set to lay out a programme of sanctions against Iran it has dubbed “economic D-Day”, despite warnings from Tehran that this will be met with an immediate response.
Treasury secretary Scott Bessent wrote in the FT yesterday that: “At dawn begins an economic D-Day – the single greatest financial offensive ever marshalled against an adversary.”
Trump had earlier promised to wage “Economic Warfare and Isolation on an unprecedented scale” on Iran in what he called the “toughest sanctions in history”.
Iran’s security chief Mohsen Rezaei threatened an “earthquake-like” retaliation should the US go ahead with its plan, while also warning Trump’s Gulf neighbours against joining in any sanctions.
Should Trump “take action, our confrontation will be like an earthquake,” Rezaei said.
He added: “If the countries surrounding Iran join the Americans in their economic war, not a drop of oil will leave the Persian Gulf and the Strait of Hormuz, and we will also target other oil export routes from the Persian Gulf.”
Recap: Iran says new sanctions threatened by ‘desperate’ US will fail
Iran’s foreign minister has dismissed the threat of new US sanctions as a sign of desperation and said the expected new measures would fail to defeat Tehran.
US Treasury Secretary Scott Bessent, who is due to hold a press conference at 2 p.m. EDT (1800 GMT) on Monday, has threatened to impose “the toughest sanctions in history” on Iran.
Iran’s economy is already under huge pressure from international sanctions, its infrastructure has been hit repeatedly and thousands of people have been killed in airstrikes on the Islamic Republic since the US and Israel launched attacks on February 28.
But Tehran remains defiant after nearly six months of war and has brought shipping to a virtual standstill in the Strait of Hormuz, refusing to allow unauthorised oil tankers to transit a waterway that is vital for global oil shipments. The effective blockade of the strait has pushed up global oil prices.
Describing what he said were “repetitive scenarios”, Iranian Foreign Minister Abbas Araghchi said in a video posted on Telegram: “The fact that they (US leaders) have moved on from military operations … to bring up the same old plans shows that they are desperate.”
He said Washington must speak to Iran respectfully to find “a solution based on justice and honour.”
“We have never been afraid. All of their actions – whether blockades or other military moves they have made – have failed, and this new issue of theirs will fail as well,” he said.
Nicole Wootton-Cane24 August 2026 06:00
The creation of a ‘Muslim Nato’ shows Trump is losing his grip in the Middle East
After the chaos sparked by Trump and Israel’s war in Iran, experts tell Maira Butt that the Mecca Agreement between Saudi Arabia, Pakistan and Turkey could represent a new dawn in the region.
Why new ‘Muslim Nato’ shows Trump’s authority in the Middle East has collapsed
After the chaos sparked by Trump and Israel’s war in Iran, experts tell Maira Butt that the Mecca Agreement between Saudi Arabia, Pakistan and Turkey could represent a new dawn in the region
Nicole Wootton-Cane24 August 2026 05:00
Recap: Gas prices hit their highest mark ever for mid August as Trump’s Iran war drags on
Gas prices on Wednesday hit their highest-ever pricefor mid-August earlier this month
Patrick De Haan, the head of petroleum analysis at GasBuddy, reported in a post on X that gas prices have never gone above $4 per gallon after August 12 in any year.
On Wednesday morning, the average fuel price was just over $4 per gallon. The last time fuel cost nearly that much around mid-August was in 2022 when the national average gas price was $3.98 per gallon.
Gas prices hit their highest mark ever for mid August as Trump’s Iran war drags on
Gas prices have hit a historic high as the president insists that the U.S. is in control of the Strait of Hormuz and has crippled Iran’s military
Nicole Wootton-Cane24 August 2026 04:00
Trump threatens to crush Iran with ‘Economic D Day’ – but he is running out of cards to play
The US president has threatened to impose unprecedented economic punishment on Iran, but experts tell Maira Butt that China may prove a huge obstacle.
Trump threatens Iran with ‘Economic D Day’ – but he is running out of cards to play
The US president has threatened to impose unprecedented economic punishment on Iran, but experts tell Maira Butt that China may prove a huge obstacle
Nicole Wootton-Cane24 August 2026 03:00
Nicole Wootton-Cane24 August 2026 02:00
Mariam’s final minutes: Inside the Israeli hospital strike that killed her – and the possible war crimes behind it
Journalist Mariam Abu Dagga was killed in the 25 August 2025 double-tap attack on Nasser Hospital in Gaza. Based on dozens of witness testimonies, whistleblowers and visual analysis, this is the most comprehensive reconstruction yet into the strike.
For Mariam: Inside Israeli hospital strike and the possible war crimes behind it
Journalist Mariam Abu Dagga was killed in the 25 August 2025 double-tap attack on Nasser Hospital in Gaza. Based on dozens of witness testimonies, whistleblowers and visual analysis, this is the most comprehensive reconstruction yet into the strike
Nicole Wootton-Cane24 August 2026 01:00
In pictures: Life in Iran continues amid uncertainty over state of war
Nicole Wootton-Cane24 August 2026 00:00
Trump officials worked with Iran on deportation lists as tensions exploded, emails reveal
Newly disclosed emails show US immigration officials worked directly with Iranian representatives to deport Iranian nationals in 2025, even as tensions between Washington and Tehran were escalating.
The records, obtained by the National Iranian American Council and released Tuesday, detail cooperation surrounding three removal flights in September and December 2025 and January 2026 that returned more than 100 Iranians.
The emails indicate Iranian representatives requested changes to proposed passenger lists and that US officials sometimes accommodated those requests.
You can read the full report below:
Trump officials worked with Iran on deportation as tensions exploded, emails reveal
Emails reveal that Iranian officials had significant influence over which Iranian immigrants in the U.S. were sent back to their home country in 2025, despite tensions between the countries
Nicole Wootton-Cane23 August 2026 23:00
Trump cannot let Iran make him ‘look like a loser,’ says former Fox News personality
President Donald Trump cannot let Iran make him “look like a loser” because his legacy is tied up in the war with the Islamic Republic, a former Fox News personality says.
Political commentator Bill O’Reilly, the former host of The O’Reilly Factor, made the remark on Tuesday night as the six-month anniversary of the start of the war draws closer.
Appearing on NewsNation’s On Balance, O’Reilly began by saying that he believes the US does have a strategy going forward in the conflict with Iran.
”From what I understand, there is some kind of strategy that will involve a tougher approach on Iran,” he claimed. “I don’t know what it is. It’s top secret, classified.”
President Trump ‘sees life in terms of winners and losers,’ Bill O’Reilly says
Nicole Wootton-Cane23 August 2026 22:00
The life and light of Mariam Abu Dagga – Independent Arabia journalist killed by Israel in Gaza
Mariam Abu Dagga, a mother and journalist, was killed in a 2025 Israeli double-tap attack on the last functioning hospital in South Gaza – she had a way out of Gaza but stayed to cover the slaughter. Chief international correspondent Bel Trew reports.
The life and light of Mariam Abu Dagga – journalist killed by Israel in Gaza
Mariam Abu Dagga, a mother and journalist, was killed in a 2025 Israeli double-tap attack on the last functioning hospital in South Gaza – she had a way out of Gaza but stayed to cover the slaughter. Chief international correspondent Bel Trew reports
Nicole Wootton-Cane23 August 2026 21:00
Source: www.independent.co.uk
