- President Donald Trump has declared that Iran is "completely collapsing" ahead of an expected announcement regarding a major package of punitive economic measures against Tehran.
- US treasury Secretary Scott Bessent described the forthcoming action as the "toughest sanctions in history" and "the single greatest financial offensive ever marshalled against an adversary".
- The official announcement detailing the new US economic sanctions is scheduled to be delivered during a press conference at approximately 6pm BST/ 1pm ET.
- Iran's security chief, Mohsen Rezaei, denounced the US plans as "economic terrorism" and warned that any action taken by Washington would result in an "earthquake-like" confrontation.
- Rezaei further threatened neighbouring Gulf countries, warning that all oil exports through the Persian Gulf and the Strait of Hormuz would be halted if they participate in the economic war.
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