
Iran war news Highlights: 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.
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Trump wrote on Truth Social: "Iran is officially a Failed Nation. IT IS DEAD! They have no Navy, they have no Air Force, they have no currency, they are not paying their soldiers or police, Inflation is at 300%, and their leadership is in total disarray and incapable of properly representing the country. The only thing they have is FAKE NEWS from the USA, a willingness to kill their protesters (now over 100,000 people dead. They must be tried for war crimes against humanity!), and a good line of “BULLSHIT.”"
Iran president Pezeshkian said it remained committed to the "obligations" it had undertaken under agreements, while alleging that the US had failed to fulfil its commitments.
Iran believes the "continuation of war is in the interest neither of us, nor of the region, nor of humanity", he said.
He stressed that responsible actors should work towards preventing further insecurity and conflict.
"We believe that the solution to the issues we face lies in dialogue and cooperation, and that all available capacities must be mobilised to prevent the spread of insecurity and conflict," Pezeshkian said.
According to an Iranian readout, president Pezeshkian urged PM Modi to use India's extensive diplomatic contacts with various parties to help move the region away from war and bloodshed and towards dialogue and agreements.
The Iranian president expressed appreciation for India's support and cooperation with Tehran during the recent conflict and called for greater diplomatic efforts to establish peace and security.
"From the very beginning of our administration, our efforts have been focused on ensuring peace and security and resolving issues through dialogue and negotiations," Pezeshkian said.
The Ministry of External Affairs (MEA) said PM Modi expressed concern over the escalation of tensions in West Asia during his meeting with Iranian President Masoud Pezeshkian on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Bishkek, Kyrgyzstan.
"Calling for safeguarding the freedom of navigation and commerce, he emphasised that civilians and civilian infrastructure, including commercial shipping and seafarers must not be harmed under any circumstances," the MEA said.
A senior Iranian source as per Reuters described the overnight confrontation between the US and Iran as a “limited and contained confrontation.”
Tehran is prepared to deliver a “harsh response” if the US attacks Iran again, the source reportedly said.
Iran warned that conditions in the strategically important Strait of Hormuz could worsen for vessels that violate rules set by Tehran for passage.
The Iranian source reportedly claimed that “no target in the region was beyond Tehran’s reach.”
The source, who spoke to Reuters anonymously, said they had direct knowledge of Iranian decision-making.
Iranian president Pezeshkian during his meeting with PM Modi on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Bishkek, Kyrgyzstan, highlighted India's important regional and global position as well as the deep historical and cultural ties between India and Iran.
He urged PM Modi to use India's extensive contacts with various parties to encourage them to move away from war and bloodshed and return to dialogue and negotiations.
The Iranian president said responsible actors around the world and in the region should work towards peace, security and stability.
“We believe that the solution to the issues we face lies in dialogue and cooperation, and that all available capacities must be mobilised to prevent the spread of insecurity and conflict,” he said.
During the meeting with Iranian President Masoud Pezeshkian on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Bishkek, Kyrgyzstan, PM Modi emphasised that civilians and civilian infrastructure must be protected under all circumstances.
The MEA said the prime minister specifically stressed that commercial shipping and seafarers must not be harmed, underlining India's concerns over the impact of the conflict on regional trade and maritime commerce.
The remarks come amid heightened tensions in West Asia and concerns over disruptions to shipping and trade routes in the region.
Prime Minister Narendra Modi met Iranian President Masoud Pezeshkian on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Bishkek, Kyrgyzstan, with the two leaders discussing bilateral ties, trade and the escalating conflict in West Asia.
During the meeting, PM Modi said India wants to “expand and diversify” its trade basket with Iran in the coming years while reiterating New Delhi's call for resolving the regional conflict through dialogue and diplomacy.
"We want to expand and diversify our trade basket in the times to come. We had a discussion on the prevailing situation in the region. India will continue to support all efforts aimed at ensuring lasting peace," he said.
Iran still wants negotiated end to war, president says after exchanges of fire, according to Reuters
US attacks on Iran's Larak Island killed two, many injured, Irna agency reports citing local governor
Prime Minister Narendra Modi on Monday met Iranian President Masoud Pezeshkian for the first time since war broke out in the Gulf following US and Israeli attacks on Tehran.
European Union says it will continue to work closely with the US and other G7 and international partners to maintain pressure on Iran
Iran’s Deputy Foreign Minister for Legal and International Affairs Kazem Gharibabadi said “foreigners must be cut off” from the region following the US attack on Lark Island, Fars news agency reports.
Gharibabadi said that the US needed to “learn a serious lesson” so they don’t “repeat their aggressions”.
US forces bombed Larak Island, killing and wounding several Iranian civilians and soldiers, according to Iran’s state broadcaster IRIB.
The United Arab Emirates’ Defense Ministry on Monday denied reports that missiles targeted Al Menhad Air Base, describing them as false.
The ministry said the armed forces remained on high alert to protect the country’s sovereignty, security and stability, and urged the public to rely on official sources.
Iran’s military earlier said it had sent dozens of drones toward the base, describing US personnel and helicopters there as its intended targets.
The UAE said it has dealt with drone coming from Iran over its waters
Iran said Monday it targeted US military personnel at an air base in the United Arab Emirates, state TV reported.
Tehran "targeted the areas where US helicopters and personnel are stationed at Al Minhad Base in the UAE, using dozens of attack drones," the army said, adding that the strikes were in retaliation for a US attack on Larak Island in the Strait of Hormuz.
China’s three biggest state-owned airlines have reported first-half losses for the seventh consecutive year, battered by surging jet fuel prices caused in large part by the US war on Iran.
Air China, China Eastern Airlines and China Southern Airlines posted combined first-half net losses of about 8.2 billion yuan ($1.22bn), having warned last month that the figure could reach as high as 9 billion yuan, Reuters reported.
The trio was confronted by what China Eastern described as a "severely undermined" profit environment, disrupted international routes, and persistently elevated jet fuel prices linked to the war.
Fuel costs at each of the carriers rose between 35 percent and 38 percent in the first half.
Unlike many Asian and European rivals, Chinese airlines hedge little of their fuel purchases, leaving them more exposed to oil price swings.
Iran’s Revolutionary Guards said its air defenses shot down a US MQ-9 long-range drone over the Strait of Hormuz, according to a statement carried by Tasnim.
The IRGC said the drone was hit by missile fire and crashed into the Persian Gulf.
There was no immediate confirmation from the US.
Jordan's armed forces had intercepted eight missiles that entered its airspace, state television said.
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