This is a war 'over who can withstand pressure,' Iranian media reports 

State-linked Iranian news outlet Nournews has described U.S. President Donald Trump’s assertions of Iran’s economic "collapse" as political propaganda, framing the ongoing confrontation between Washington and Tehran as a war "over who can withstand pressure".

The outlet, which is linked to Iran's Supreme National Security Council, argued that Washington's "Economic D-Day" campaign masks its own domestic vulnerabilities.

Highlighting America's record $40 trillion national debt and $1 trillion in annual interest costs, Nournews has asserted that long-term economic warfare inflicts severe fiscal strain on the U.S. itself.

Iranian media continues to emphasise that the war will be won by the state most capable of sustaining prolonged economic warfare.

Suha Kidwai26 August 2026 11:00

Iranian diplomat criticises Trump's economic plans at Security Council

Iran’s Deputy Permanent Representative to the UN, Gholamhossein Darzi, called on the UN Security Council and member states to firmly reject extraterritorial US sanctions.

Addressing a Security Council debate on global food crises, Darzi urged member states to denounce unilateral coercive measures designed to subordinate their sovereign policies to Washington.

He accused the US of weaponising trade, energy, and food access — which is a violation of international law — and reaffirmed Iran’s legal right to respond to economic and maritime pressure.

Suha Kidwai26 August 2026 10:30

Supertankers with 4 million barrels of Saudi oil head for China, data shows

Two supertankers ⁠carrying 4 million barrels ⁠of ​Saudi ⁠crude ⁠are ​bound ⁠for ‌China after loading the ‌cargoes via ‌ship-to-ship ⁠transfers off Oman, according to shipping data observed on Wednesday.

The move follows Saudi Aramco’s strategic pivot to sell crude loaded outside the volatile Strait of Hormuz to bypass regional transit disruptions.

With direct vessel traffic through the strait dropping dramatically over the course of the conflict, Gulf exporters are increasingly using offshore transfer operations in Omani waters as a bypass to keep Asian supply lines open.

Suha Kidwai26 August 2026 10:00

The US 'will have no place' in region's future, says Iranian official

Iran’s top security official has declared that the United States "will have no place in the region's future."

Major General Mohsen Rezaei, secretary of the Supreme National Security Council, delivered the remarks during a Tehran meeting with Faiq Zaidan, head of Iraq’s Supreme Judicial Council on Tuesday, according to state-linked news agency, Nournews.

Rezaei also has affirmed support for a "strong and independent Iraq" while calling for a resolution to anti-Iranian armed groups along their border.

Suha Kidwai26 August 2026 09:30

Iranian parliamentary speaker scoffs at ‘Economic D-Day’ threats

Parliament speaker, Mohammad-Baqer Qalibaf has publicly mocked US Treasury Secretary Scott Bessent over what he described as “contradictory” statements regarding new sanctions against Iran.

The friction follows Bessent's announcement of "Operation Economic Outcast" — termed an "Economic D-Day" — designed to target Iran’s economy.

However, when pressed on potential global disruption on Monday, Bessent pivoted, asking, "Why would I want to blow up the global financial system?"

Qalibaf has ridiculed the exchange on X, posting: "Sir this ain't Normandy, this is improv night and you forgot your own script."

Tehran maintains that Washington's economic pressure campaign reflects failed military objectives and vows to retaliate against foreign entities assisting the US sanctions push.

Asian stocks rise and oil falls on hopes of Strait of Hormuz reopening

Asian stocks rose on Wednesday as falling oil prices and hopes of an interim deal between Iran and Oman over the Strait of Hormuz eased concerns about global inflation and energy supplies.

Brent crude fell more than two per cent to $86.41 a barrel, as markets anticipated the possibility of more oil flowing through the strait, which handled about a fifth of the world’s traded oil before the war.

“While there was no real progress or details of the Iran-Oman deal, as Iran reiterated that Hormuz will remain shut until conditions are met, price ⁠action suggested that markets are quickly pricing in optimism around an interim announcement,” analysts at J P Morgan said.

Maroosha Muzaffar26 August 2026 08:40

Temporary route agreed with Oman doesn’t mean reopening Hormuz, Iranian deputy foreign minister says

Iran says it has agreed with Oman on establishing a temporary 11km-wide transit route through the Strait of Hormuz, with the entry point and part of the exit route passing through Iranian territorial waters.

However, deputy foreign minister Kazem Gharibabadi said the arrangement “does not mean opening the Strait of Hormuz”.

“We agreed with Oman that the entry route to the Strait of Hormuz will be through our territorial waters, and part of the exit route will also be through our territorial waters,” Gharibabadi said.

He said activating the route would “mean closing the southern route in the strait”, which the US had opened “under pressure from Oman”, arguing that the move violated Article 5 of the two countries’ memorandum of understanding aimed at ending the war.

Maroosha Muzaffar26 August 2026 08:20

China warns about US sanctions threat disrupting its cooperation with Iran

China has warned that expanded US sanctions targeting entities and individuals linked to Iran, including some based in China, “should not disrupt” or “undermine” its cooperation with Tehran.

Foreign ministry spokesperson Lin Jian said China-Iran cooperation has complied with international law.

China is one of Iran’s biggest trading partners and buys most of the country’s oil exports.

The warning came after the US treasury department announced sanctions on nearly 60 Iran-linked entities on Monday, including several in China, although it stopped short of imposing secondary sanctions on countries trading with Iran.

Maroosha Muzaffar26 August 2026 08:00

Dozens of Iran-flagged tankers gather off Sri Lankan coast

More than a dozen Iran-flagged tankers have gathered near Sri Lanka’s territorial waters after a US blockade effectively cut off access to Iranian ports.

Ship-tracking data shows about 13 Iranian tankers, alongside vessels linked to Iran’s “shadow fleet”, sheltering off Sri Lanka, with around 20 state-owned Iranian tankers reportedly seeking refuge in the area.

“A flotilla of approximately 20 state-owned Iranian tankers, all empty of cargo, decided to seek shelter in the exclusive economic zone of Sri Lanka,” Samir Madani, co-founder of the maritime intelligence firm TankerTrackers.com, was quoted as saying by FT.

The blockade has severely restricted Iran’s ability to import fuel and generate oil revenue, with the US saying it has redirected 71 merchant vessels, disabled three and boarded two since the blockade began.

Tankers have also accumulated off Pakistan and Malaysia, where vessels linked to Iranian crude transfers to China are loitering, FT reported, citing the US-based campaign group United Against Nuclear Iran (UANI).

Maroosha Muzaffar26 August 2026 07:40

Bessent and Bahrain’s finance minister discuss Iran sanctions

US treasury secretary Scott Bessent spoke about Iran sanctions with Bahrain’s finance minister Sheikh Salman bin Khalifa Al Khalifa, stressing that “Iran must not be permitted to threaten international commerce or use the Strait of Hormuz as leverage against the global economy”.

He also emphasised “the importance of sustained financial pressure on Iran’s remaining economic lifelines” and said that “the US will hold the regime’s financial enablers accountable”.

In a post on X, the treasury department said: “He also emphasised the importance of sustained financial pressure on Iran’s remaining economic lifelines and underscored that the United States will hold the regime’s financial enablers accountable.

“Secretary Bessent also welcomed Bahrain’s longstanding partnership and its continued commitment to safeguarding the integrity of the international financial system. The two officials agreed on the importance of continued coordination between the United States, Bahrain, GCC partners, and the broader international community to combat illicit finance and strengthen economic security.”

Maroosha Muzaffar26 August 2026 07:20