TOP STORIES
Trump Orders Bessent to Cripple Iran’s Economy | Telegraph
“Mr Trump has settled on a fresh strategy of economic pressure in the hopes of loosening Iran’s grip on the Strait of Hormuz and forcing its leaders to agree to a nuclear agreement, a source close to the president told The Telegraph. Overseen by [Scott] Bessent, the treasury secretary, the wait-and-see approach will give harsh sanctions and the US naval blockade of Iranian ports time to inflict economic harm and cripple the regime, insiders say. A source close to Mr Trump said: ‘It’s been turned over to Bessent. Let him off the chain; he will destroy their currency.’”
“Years of international sanctions and government mismanagement had already crippled Iran's economy. But the war has pushed the country of some 90 million people to the verge of economic collapse.”
U.S. Sending Fresh Aircraft Carrier to Middle East amid Iran War Strain | Wall Street Journal
“The U.S. military is preparing to replace the USS Abraham Lincoln with the USS George Washington as part of a scheduled Middle East deployment, U.S. officials said, amid growing concerns over living conditions aboard the Lincoln and the strain on troops during the Iran war. Several lawmakers say they are concerned about reports of a lack of food and personal supplies aboard the carrier, as well as plumbing backups, as the carrier’s deployment stretches into its ninth month. A U.S. official confirmed Thursday that a person went overboard the Lincoln in early August but was quickly rescued.”
DIPLOMACY
There Is No Good Deal to Be Made with Iran | Washington Post Editorial
“Containment is working. The U.S. should adapt its blockade to be more sustainable, lowering the number of ships doing direct interdictions, while sanctioning anyone who buys Iranian oil that gets through. The regime’s frozen assets should also stay frozen. And Iran’s proxies should be relentlessly suppressed in Yemen, Iraq, Lebanon and Gaza. Crucially, Trump needs to keep the threat of significant escalation on the table, especially if Iran takes even the smallest step toward reconstituting its nuclear program. Cutting deals with a murderous regime has never been a good idea. Feeding Iran more money would reward bad behavior and fund the next round of chaos. The savviest dealmaker knows when it’s time to walk away.”
MILITARY MATTERS & SHIPPING
US Can Keep Naval Blockade on Iranian Ports “Indefinitely,” Pentagon Chief Says | Reuters
“The U.S. military has enough assets to maintain a naval blockade of Iran indefinitely, Defense Secretary Pete Hegseth said on Thursday, adding ships could be rotated in and out of the region as needed.”
UAE Says Iran Attacked Two ADNOC Vessels in Strait of Hormuz; No Injuries | Reuters
“Abu Dhabi National Oil Company said two of its vessels were attacked while transiting the Strait of Hormuz on Thursday evening, with no injuries reported, as the United Arab Emirates accused Iran of carrying out the attack. The attack was the second such incident involving ADNOC vessels in less than a week.”
PROTESTS & HUMAN RIGHTS
Iranian Forces Used Cultural Sites, Medical Clinics in Alborz Crackdown | Iran International
“Security forces used cultural venues and medical clinics as firing positions, ammunition stores and sites for holding bodies during Iran's January 2026 protest crackdown in Alborz province, according to material reviewed by Iran International.”
SANCTIONS, BUSINESS RISKS & OTHER ECONOMIC NEWS
Iran’s Non-Oil Trade Drops 30% Due to War and Maritime Blockades | IranWire
“Iran’s non-oil trade value dropped by approximately 30 percent during the past four months (March to July), driven by armed conflict and severe disruptions to maritime transport routes.”
Vance Says Cheap Oil and Gas Is Top U.S. Priority in Iran War | OilPrice.com
“Low U.S. gasoline prices are the top priority of the Administration amid the war in Iran, Vice President JD Vance said, as the U.S.-Iran deadlock persists and the U.S. vowed to keep the blockade on Iran indefinitely.”
IRANIAN INTERNAL DEVELOPMENTS
Iranian Clerics Call for Revenge over Ali Khamenei’s Killing | Iran International
“Senior Iranian clerics called on Friday for revenge over the killing of former Supreme Leader Ali Khamenei, with one saying the pursuit of ‘vengeance’ should continue until its final objective was achieved.”
PROPAGANDA
“Iran’s state media has mocked U.S. President Donald Trump after new details emerged about his secret aircraft switch during a visit to Turkey, saying it showed just how nervous he is about the Islamic Republic's power. . . . Iran’s embassy in South Africa said in a post on X that Trump ‘will be hidden in a trash can before long.’ It was accompanied by a meme picture of Trump inside a catering box full of food.”
ENVIRONMENTAL CRISIS
Iran Foreign Ministry Blames Foreign Ship for Qeshm Oil Slick | IranWire
“Following reports of oil pollution reaching the shores of Qeshm Island and the Hara mangrove forests in Hormozgan province, the spokesperson for the Iranian Ministry of Foreign Affairs claimed that the slick drifted toward the coastline from the Persian Gulf, stating that ‘preliminary evidence indicates the source was a foreign bulk carrier.’ . . . Concurrently, the ship-tracking platform TankerTrackers claimed that the pollution ‘is highly likely tied to an Iranian strike on a cargo vessel named Minoan Pioneer on August 3, 2026, in Omani waters, with the resulting oil slick carried by water currents through the Strait of Hormoz to Iranian shores.’”