Analysts say President Trump is pursuing new sanctions, a maritime blockade and pressure on Iran's trading partners to achieve by economic isolation what bombs and missiles could not — force Iran to accept US terms. Iran’s Islamic Revolutionary Guard Corps (IRGC) effectively controls the Strait of Hormuz and has repeatedly launched large numbers of attack drones into the Persian Gulf; the IRGC is largely impervious to economic pressure and retains substantial retaliation options. Treasury Secret

2026-08-22

Analysts say President Trump is pursuing new sanctions, a maritime blockade and pressure on Iran's trading partners to achieve by economic isolation what bombs and missiles could not — force Iran to accept US terms. Iran’s Islamic Revolutionary Guard Corps (IRGC) effectively controls the Strait of Hormuz and has repeatedly launched large numbers of attack drones into the Persian Gulf; the IRGC is largely impervious to economic pressure and retains substantial retaliation options. Treasury Secretary Bessent will unveil details on Monday of a plan to shift confrontation from regional air strikes to comprehensive economic isolation. If the economic squeeze takes hold, Iran is likely to respond with military strikes targeting Gulf energy infrastructure to push oil prices higher and raise the cost of US action, potentially forcing a US policy reversal.

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2026-08-22

US officials said a 5% tariff on certain Canadian imports will take effect at 00:01 ET on Saturday under a prior agreement. The accord had originally called for steep tariff cuts; the US proposal would place Canada in the most-favored position among countries exporting to the United States.

2026-08-22

The Russian Defence Ministry said on the 21st Russian forces continued strikes on ports and maritime vessels used by the Ukrainian armed forces, reporting drone strikes on a military warehouse at Reni, a Ukrainian navy patrol boat at Chornomorsk, and port infrastructure storing military materiel at Yuzhny; Moscow also said its forces took control of a settlement in Donetsk region. Ukrainian President Zelenskiy said early on the 21st Ukrainian forces launched long-range strikes that hit two impor