Iran war news LIVE Updates: Iran launched strikes early Monday after US forces struck Iranian rocket launchers on the Strait of Hormuz in their first military action in a month on Sunday.
Semiofficial news outlets in Iran reported sounds of explosions near Larak island on the strait. The Guard in a statement carried by Iran’s state broadcaster noted “the martyrdom and injury of several of our fighters and compatriots,” according to the Associated Press. Iran swiftly vowed to retaliate against the US for what it called a deadly attack.
Forces with the Iran Revolutionary Guard Corps (IRGC) were observed preparing to launch rockets with sea mines into the strait, according to Tim Hawkins, a spokesperson for the US Central Command. The US military last week completed clearing sea mines from the strait’s international shipping routes.
Iran attacks US bases in Jordan after US bombs Larak Island
Iranian state television showed what it said were ballistic missiles being fired by Iran at US bases in Jordan in response to the American 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 defence sites.
On August 1, President Donald Trump said he would order the military to hold off on new strikes at the urging of Gulf allies Qatar, Saudi Arabia and the United Arab Emirates.
Bessent expects new US secondary sanctions weekly
The US Treasury Department is likely to unveil weekly new secondary sanctions aimed at increasing economic pressure on Iran, with an initial focus on banks, US Treasury Secretary Scott Bessent told Reuters on Sunday.
After imposing penalties on the United Arab Emirates (UAE) branches of Egypt’s Banque Misr on Friday over alleged financial links to Iran, Bessent said in an interview that the next step may be cutting-off an institution entirely from the dollar-based financial system.
“You’re going to see a lot more of these every week,” Bessent said ahead of a Group of 20 finance leaders meeting. “We’re starting with the banks, and we’re telling the banks it’s not okay to have Iranian money and to aid the regime.”
Bessent said he intends to drive the message home to G20 finance ministers and central bank governors to cut economic ties to Iran, or face secondary sanctions.
Trump’s economic pressure
Sunday’s attack came just days after the Trump administration said it would turn its focus to increasing economic pressure – rather than military action – to try to end its war with Iran.
The shifting strategy centres on threats to punish any country or entity that continues to conduct business with Tehran.
The attack was a “fatal mistake by the Trump regime during the economic war” and the enemy will pay the consequences militarily and economically, a Guard spokesperson, Gen. Hossein Mohebi, said in a statement carried by Iranian media.
Key Events
Iran war news LIVE Updates: ‘US forces were able to intercept Iran’s retaliatory missiles against Jordan’ — report
US forces were able to intercept Iran’s retaliatory attacks against Jordan after Washington said it hit Tehran’s minelaying capabilities on Larak Island in the Strait of Hormuz, a US official has told Al Jazeera,
“The missile attack on US forces in Jordan proves that Iran is no longer the power it once was,” said the official, adding that Tehran had launched medium-range ballistic missiles towards Jordan.
Iran war news LIVE Updates: Oil jumps more than 1% after US-Iran trade attacks
Oil prices have jumped more than $1 a barrel after the US attacked an Iranian island in the Strait of Hormuz, drawing retaliation from Tehran.
As the conflict in the Middle East extended into its sixth month, Brent crude futures climbed $1.08, or 1.23 percent, to $89.18 a barrel as of 00:40 GMT, while US West Texas Intermediate crude was at $84.32, up 92 cents, or 1.10 percent.
“Looks like we are in another escalation phase. How long that lasts is impossible to determine. Could be days, could be weeks,” IG market analyst Tony Sycamore told Reuters.
Iran war news LIVE Updates: Iran says Kheibar Shekan missiles used in latest attack
Iran used solid-fuel Kheibar Shekan ballistic missiles in its attack early Monday, state broadcaster IRIB reported, as per Iran International.
The report said the solid-fuel missiles were launched alongside slower liquid-fuels and drones.
Iran war news LIVE Updates: Centcom says IRGC’s ‘minelaying forces’ on Larak Island posed an ‘imminent threat’
The US Central Command said that Washington “took limited, precise action against IRGC minelaying forces posing an imminent threat in the Strait of Hormuz,” in its attack on Iran’s Larak Island.
“In essence, Iran created the threat, and the US military eliminated it to protect civilian mariners, commercial shipping, and the free flow of global commerce,” the Central Command said in a statement posted on X.
Iran war news LIVE Updates: IRGC attacks US bases in Jordan after US bombs Larak Island
Iran’s Islamic Revolutionary Guard Corps (IRGC) says it has attacked US bases in Jordan after US forces bombed two rocket launchers on Iran’s Larak Island. The IRGC says the US attack on Larak Island killed and wounded several Iranian fighters and civilians, according to Iran’s state broadcaster IRIB.
Iran war news LIVE Updates: US to impose weekly secondary sanctions on Tehran? Bessent says ‘We’re starting with banks’
The U.S. Treasury Department is likely to unveil weekly new secondary sanctions aimed at increasing economic pressure on Iran, with an initial focus on banks, U.S. Treasury Secretary Scott Bessent told Reuters on Sunday.
“You’re going to see a lot more of these every week,” Bessent said ahead of a Group of 20 finance leaders meeting. “We’re starting with the banks, and we’re telling the banks it’s not okay to have Iranian money and to aid the regime.”
After imposing penalties on the United Arab Emirates branches of Egypt’s Banque Misr on Friday over alleged financial links to Iran, Bessent said in an interview that the next step may be cutting off an institution entirely from the dollar-based financial system.
About the Author
Akriti Anand is a Deputy Chief Content Producer at LiveMint. She is a digital journalist with more than six years in the news industry.<br><br>
In her current role, she covers both national and international politics, and also keeps a close watch on the latest trends in science and space exploration.
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Akriti joined the LiveMint team in October 2023. Before this, she built a strong career at other major media houses. She worked as a senior sub-editor at India Today. Later, she moved to CNBCTV-18. There, she covered high-pressure topics like breaking news and major elections. She spent much of her time analysing Parliament bills and complex political debates. She is also a skilled editor who knows how to polish a story for a digital audience.
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One of her career highlights happened at CNBCTV-18. She made her first television debut during the Chandrayaan-3 mission. She also provided special on-air coverage for the Karnataka Elections.
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When she is not busy with breaking news, Akriti loves to write explainers and interview experts on a wide range of issues. She also enjoys making complex space missions easy for everyone to understand.
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Her education helps her tackle these diverse subjects. She holds a BA in English Literature, a Postgraduate Diploma in Mass Communication, and a Master’s degree in Development Studies. She is currently expanding her knowledge in climate journalism.<br><br>
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Email: akriti.anand@htdigital.in
