Iran said today, Saturday (August 22, 2026), that the “economic war” planned by the United States against Tehran violates international law. Iranian Foreign Ministry spokesman Esmail Baghaei wrote on the X website that banks, companies or airports that fall within the exclusive jurisdiction of a country should not be forced by other countries to “abandon legitimate trade with a third country.”
US President Donald Trump threatened to impose strict sanctions against countries that continue to support Iran, as Washington seeks to sharply increase economic pressure on Tehran. Baghaei said: “Economic coercion aimed at forcing a sovereign state to change its legitimate political choices constitutes an internationally wrongful act.”
He said such "secondary sanctions" violate the UN Charter. Baghaei added that Trump's plan, along with the US naval blockade of Iranian ports, would reduce the sovereignty of other countries to something "temporary, conditional, and revocable at the desire of another power." He warned that these measures threaten "a return to comprehensive traditional colonialism."
Spokesman for General Alexis Grynkewich, NATO Supreme Commander, said today, Friday (August 21, 2026), that “Allied High Command in Europe hosted a meeting of relevant allies at the level of defense commanders on Wednesday, August 19, 2026, with the aim of facilitating potential contributions to support freedom of navigation in the Strait of Hormuz.”
He added, "To be clear, this is not one of the Alliance's tasks, but given the unique strengths that the Alliance has in its ability to bring together allies and understand the capabilities that they possess, it makes sense for it to work to facilitate matters in this way."
NATO members sought to avoid direct involvement in the conflict with Iran, and instead focused on plans to reopen the strait, through which about 20 percent of the world’s supplies of oil and liquefied natural gas passed before the conflict.
France and Britain have led efforts to form a coalition of about a dozen countries to ensure safe passage through the strait once tensions calm or the conflict is resolved, but any long-term arrangement will ultimately require Iranian approval.
Washington had directed sharp criticism at a number of European countries that refused to allow American forces to use NATO bases on their soil during the war with Iran. US Secretary of Defense Pete Hegseth also threatened to reduce his country's contribution to the alliance's budget if some countries refused to fulfill the commitments they made during the NATO summit in The Hague last year.
Major General Ali Abdullah, Chief of Staff of the Iranian Armed Forces, said today, Friday (August 21, 2026), that the Islamic Republic’s response to Washington’s threats to impose harsh sanctions on it will be widespread and decisive.
He was quoted by official media as saying, “The Iranian Armed Forces, with their readiness at the land, sea, air, air defense and cyberspace levels, will respond to any new threats from the enemy with overwhelming, painful and destructive responses.”
US Treasury Secretary Scott Besent said on Thursday that the United States would impose the "toughest sanctions in history" on Iran, noting that focusing on economic measures would reduce the need to carry out new major military operations against Tehran.
Besant's statements came in the wake of President Donald Trump's threat to launch an "economic war" with consequences for the economy of any country that provides "any kind of assistance to Iran."
Today, Friday, Iranian Parliament Speaker Mohammad Bagher Qalibaf, who is Tehran’s main negotiator in talks held through mediators with the United States, said that Washington has apparently concluded that it is unable to resolve the direct military confrontation.
For his part, Iranian President Masoud Pezeshkian said on Friday, "It is better to end the war today, while we are in a position of strength and dignity, and while the entire world acknowledges our victory and confirms that America attacked our schools, hospitals, and facilities in violation of all rules, and is hated throughout the world."
Iranian President Masoud Pezeshkian called on Friday (August 21, 2026) to end the war with the United States “today” while Iran is “in a position of strength.” Pezeshkian said during a meeting with doctors in Tehran, "It is better to end the war today, while we are in a position of strength and dignity, and while the entire world acknowledges our victory."
He stressed that "what was achieved during the negotiations was a major achievement that was approved by the Supreme National Security Council," adding that it was not possible to find in the memorandum of understanding signed with the United States "a single clause indicating surrender. All obligations relate to the other party."
Preliminary shipping data showed that the number of ships crossing the Strait of Hormuz decreased yesterday, Thursday (August 20, 2026), compared to the previous day, amid growing concern about the risks threatening shipping traffic in the Middle East and the stagnation of talks between the United States and Iran. Data from Kpler Analytics stated that the total number of cargo ships reached seven yesterday, which represents half the number recorded on Wednesday.
Of these ships, four entered the waterway and three left. There were no oil or liquefied natural gas supertankers among these ships. However, data showed that one VLCC carrying propane and butane transited the Strait of Hormuz via the Iranian route.
On Thursday (August 20, 2026), the United States announced new sanctions targeting what it said was a Lebanese Hezbollah financing network, highlighting its close ties to the Iranian Revolutionary Guard.
The US Treasury Department said in a statement that the administration had amended a legal text that classifies the party as a “terrorist organization,” to confirm that it “serves the Iranian regime under the command of the Quds Force of the Islamic Revolutionary Guard Corps.”
The United States designated Hezbollah a “foreign terrorist organization” in 1997, then a “specially designated terrorist organization” in 2001.
A State Department official, who requested to remain anonymous, said that the new designation identifies Hezbollah as a proxy of Iran and not an independent entity, as it moves “with little or no attention paid to Lebanese sovereignty, the Lebanese people, and the Lebanese state.”
This amendment came as the United States sponsored direct negotiations between Israel and Lebanon, which are officially at war, and these talks were rejected by the party.
The State Department official added that the US decision “is based on years of classification decisions that have repeatedly highlighted the operational, financial, and logistical complementarity between Hezbollah and the Quds Force,” noting that the Lebanese party “acts as an extension of the Quds Force.” He continued, "It is not a Lebanese resistance movement."
The sanctions announced on Thursday target 10 individuals accused by Washington of belonging to a network responsible for transferring money to Hezbollah.
The US Treasury Department added that the network uses "couriers who travel on commercial flights between Lebanon, Turkey, the United Arab Emirates, and Iran" to move hundreds of millions of dollars, allowing Hezbollah to "circumvent" existing sanctions.
Many countries consider Lebanese Hezbollah, or its military wing, a terrorist organization. These countries include the United States, the European Union, Britain and other countries. Germany also banned the party's activity on its territory in 2020 and classified it as a "terrorist organization."
US Treasury Secretary Scott Besent said Thursday (August 20, 2026) that the plan to escalate economic sanctions on Iran reduces the possibility of the United States resorting to intensive military operations against the Islamic Republic.
He added in a statement to CNBC, "If we exert maximum economic pressure, this likely means that there will be no return to large-scale military actions, but I stress that this applies only at the present time."
He explained to CNBC, "It is a double blow. We have the blockade on Iran, and we will impose the harshest sanctions in history. This will work in Iran and we will topple this regime." He went on to say, "It is time for our allies and the rest of the world to make a decision."
Speaking about his message to the allies, Besant said, “We are addressing them by saying: You are either with us or against us” on the issue of isolating Iran economically, which was announced by President Donald Trump.
Regarding whether the United States would put pressure on China, he said, “Many talks would prefer to be held in private,” but he called on Beijing to “go along with the plan.” He added, "We are confident that everyone wants the Strait (of Hormuz) to be reopened and energy prices to fall again. It must be taken into account that China obtains 50 percent of its energy needs from within the Gulf, so joining this path will greatly serve its interests."
Yesterday, Wednesday, US President Donald Trump warned of economic consequences against any country that provides “any kind of vital support to Iran,” at a time when the United States seeks to end the war that it started alongside Israel about six months ago.
Iran expressed its condemnation of Trump's announcement of an unprecedented campaign of "economic war and isolation" against Tehran, while warning Beijing against imposing more sanctions.
The military spokesman for the Yemeni Houthi group, Yahya Saree, said in a statement today, Thursday (August 20, 2026), that their forces carried out “two military operations with two drones, the first targeting a sensitive target of the Saudi enemy at Najran airport, and the other targeting Aramco Najran... in response to the Saudi enemy’s violation of the airspace of Saada Governorate with its drones.”
This comes two days after the Houthis, allied with Iran, announced that they had targeted an Aramco oil refinery in Jizan overlooking the Red Sea. In recent weeks, the rebels have repeatedly announced targeting energy and oil facilities in this region.
In July, the Houthis joined the regional escalation fronts, with the renewed confrontation between the Houthis and Saudi Arabia in the wake of the war between the United States and Iran.
The escalation between the two parties began after the Houthis accused Saudi Arabia of bombing Sanaa Airport to prevent an Iranian plane from landing there, before they announced the imposition of a naval blockade on the Kingdom and resumed targeting its tankers and oil facilities, which put a practical end to a truce that had been concluded in the year 2022.
In statements published earlier today, Thursday, the Iranian Revolutionary Guard spokesman said that Saudi Arabia would not be able to contain the Houthi rebels.
In recent weeks, the Houthis have claimed responsibility for attacks on Saudi oil tankers in the Red Sea and oil facilities.
They also targeted the coastal city of Mokha near Bab al-Mandab, in addition to military sites near the strait and islands under the control of the Yemeni government in the Red Sea.
The Minister of Information in the internationally recognized and Saudi-backed Yemeni government, Muammar Al-Eryani, told Agence France-Presse this week that the rebels are planning to control coastal areas in Yemen adjacent to the Bab al-Mandab Strait, which would threaten another vital shipping lane after Tehran closed the Strait of Hormuz.
Donald Trump threatened to impose "severe" economic consequences on "any country" that helps Iran or does business with it, in a move that reflects an escalation of the economic pressure exerted by Washington on the Islamic Republic after months of war. Trump wrote on his platform, Truth Social, “I announce today that any country that allows its financial institutions, companies, airports, and government agencies to provide any form of lifeline to Iran will face dire economic consequences.”
In his lengthy post, Trump asserted that Tehran “did not know how to seize the great opportunity” to conclude an agreement. “Therefore, I announce the most crushing economic operation ever taken against any country!” he wrote, referring to “an unprecedented economic war.” He continued, directing his words to countries suspected of helping Iran, without naming them: “oil smuggling, currency exchange, cash transfers, exchange offices, ship registries, fake companies... All of this must stop now.”
The US President did not provide details about the measures or sanctions that he would impose. Last week, US Treasury Secretary Scott Besent threatened Iran with economic isolation "the likes of which the world has never seen." Since the outbreak of the war with a US-Israeli attack on Iran on February 28, Tehran has practically closed the Strait of Hormuz, which is vital for global energy supplies and maritime trade. Washington responded by imposing a naval blockade on Iran's ports.
