Iran War News LIVE Update: US to impose weekly secondary sanctions on Tehran? Bessent Says “We’re Starting With Banks” | Today’s news
Iran War News LIVE Updates: US forces struck Iranian missile launchers in the Strait of Hormuz on Sunday in their first military action in a month. Iran quickly vowed retaliation for what it called the deadly attack.
Semi-official news sources in Iran reported the sounds of explosions near Larak Island in the strait. In a statement on Iran’s state radio, the Guard noted “martyrdom and injuries to several of our fighters and compatriots,” according to the Associated Press.
According to Tim Hawkins, a spokesman for the US Central Command, Iranian Revolutionary Guard Corps (IRGC) forces were observed preparing to launch sea-mine rockets into the strait. The US military last week completed the removal of sea mines from the international sea lanes of the strait.
The IRGC attacks US bases in Jordan after the US bombed Larak Island
Iranian state television also said it was ballistic missiles fired by Iran at US bases in Jordan in response to US strikes. Jordan’s armed forces said they intercepted eight missiles that penetrated the country’s airspace early Monday.
The last time the US military confirmed targeting Iran was on July 29, when it announced a “heavy wave of strikes” on dozens of Revolutionary Guard targets, including coastal surveillance and defense sites. President Donald Trump said on August 1 that he would order the military to delay new strikes at the urging of Gulf allies Qatar, Saudi Arabia and the United Arab Emirates.
Bessent expects new US secondary sanctions every week
The U.S. Treasury Department is likely to unveil new secondary sanctions each week aimed at increasing economic pressure on Iran, initially targeting banks, U.S. Treasury Secretary Scott Bessent told Reuters on Sunday.
After imposing sanctions on Egypt’s Banque Misr branches in the United Arab Emirates (UAE) on Friday over alleged financial ties to Iran, Bessent said in an interview that the next step may be to completely cut off the institution from the dollar-based financial system.
“You’re going to see a lot more of them every week,” Bessent said ahead of a meeting of G20 financial leaders. “We’re starting with the banks and telling the banks that it’s not OK to have Iranian money and help the regime.”
Bessent said he intended to send a message to G20 finance ministers and central bank governors to cut economic ties with Iran or face secondary sanctions.
Trump’s economic pressure
Sunday’s attack came just days after the Trump administration said it would focus on increasing economic pressure — rather than military action — in an effort to end its war with Iran.
The change in strategy centers on threats to punish any country or entity that continues to do business with Tehran.
The attack was a “fatal mistake by the Trump regime during the economic war” and the enemy will pay for it militarily and economically, Guards spokesman General Hossein Mohebi said in a statement carried by Iranian media.
