Donald Trump has declared an “Economic D-Day” against Iran, threatening sanctions on any nation offering a lifeline to the Middle Eastern country.
“ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences”, the US president warned on Truth Social Wednesday. “Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW. You know who you are”.
“This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat”, Trump added.
Meanwhile, Iran has threatened to target any Gulf states assisting the US in the conflict, after the United Arab Emirates accused Tehran of launching two ballistic missiles in the first such incident since May.
“Nothing is hidden from our eyes”, Iran’s army chief Ali Abdollahi said, adding, “We warn: Any assistance and facilitation to the aggressive US army is tantamount to participation with the US military forces”.
The UAE defense ministry said the missiles targeted "maritime traffic" based on its assessments. Both missiles fell into the sea, it said.
Read MoreTrump circles the Strait of Hormuz on map and proclaims it as ‘new US territory’
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Strait of Hormuz tracker: The maps and charts that debunk Trump’s claim the route has reopened
Key Points
- Trump threatens any nation that helps Iran financially
- Tehran declares that the US has lost the war
- Hormuz plan will put strait under control of armed forces: Iranian lawmaker
- Iran threatens to attack US targets in Europe if Trump escalates war: report
Australia summons Israeli ambassador over Gaza aid worker death
05:00 , Alisha Rahaman SarkarAustralia summoned Israel's ambassador and expressed outrage at a decision by its military not to pursue criminal proceedings over the death of an Australian aid worker in a 2024 airstrike in Gaza.
The Israeli military said it had found no basis to investigate the killings of seven aid workers with the World Central Kitchen charity, including Australian Zomi Frankcom, after a fact-finding and assessment procedure.
"This decision falls far short of the accountability we expect," foreign minister Penny Wong said, adding that Australia was outraged by the decision. "Democracies seek and accept higher standards. The Australian government will not stop pressing Israel for justice for Zomi and her colleagues."
Oil prices steady as investors assess US-Iran war outlook
04:45 , Alisha Rahaman SarkarOil prices steadied in early trade this morning as investors assessed the outlook for the US-Iran war and the security of shipping through the Strait of Hormuz.
Brent crude futures for October delivery rose 25 cents, or 0.3 per cent, to $91.87 a barrel, while US West Texas Intermediate crude futures for September slipped 2 cents to $85.81 a barrel.
The more active October WTI contract gained 14 cents, or 0.2 per cent, to $84.53.
US reporter calls Trump's latest threats 'not practical'
04:30 , Rachel DobkinAlex Ward, a national security reporter for The Wall Street Journal, called Donald Trump’s new economic threats against Iran and countries that give them a lifeline “not practical”.
The US president warned that any nation that financially helps Tehran will face “TREMENDOUS Economic Consequences”.
“Trump is calling for every nation and business to cease economic ties with Iran. It’s not practical on Trump’s quick timeline and would be immensely hard to monitor”, Ward wrote on X.
“But further confirmation that Trump, for now, is choosing economic over military pressure”, he added.
Watch: Trump says Strait of Hormuz remains open despite ‘effective’ naval blockade
04:15 , Alisha Rahaman SarkarRead Trump's full Truth Social post about new economic pressure on Iran
04:01 , Rachel DobkinDonald Trump has issued a new threat to any nation that helps Iran financially, putting more economic pressure on the Middle Eastern country as the war drags on for more than five months.
Read the US president’s full Truth Social post:
“No one has given the Islamic Republic of Iran a greater opportunity to make a Deal than me. TRAGICALLY, for them, they have failed to take it. Therefore, today, I am announcing the MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!
“This will be Economic Warfare and Isolation on an unprecedented scale. Their navy is gone, their air force is destroyed, their military factories are now rubble, their currency is worthless, and their country is hanging by a thread.
“Today, I am also announcing that ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences.
“Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW. You know who you are.
“This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat.
“These maniacs are on the ropes, and these HISTORIC MEASURES will cripple them and their ability to project terror worldwide. IRAN WILL NEVER HAVE A NUCLEAR WEAPON. THANK YOU FOR YOUR ATTENTION TO THIS MATTER.”
Watch: Trump unveils White House helipad as he obsesses over renovations amid Iran war: 'I love construction'
03:00 , Dan HaygarthIraqi parliament speaker asks Iranian counterpart for special status on Hormuz oil exports
02:00 , Dan HaygarthIraq's parliament speaker Haibat al-Halbousi called for special status for Iraqi oil exports through the Strait of Hormuz during talks with his Iranian counterpart Mohammad Baqer Qalibaf in Baghdad on Wednesday, his office said in a statement, without providing further details.
Israeli military announces criminal investigation into killing of Palestinian girl Hind Rajab in Gaza
01:00 , Dan HaygarthThe Israeli military has confirmed for the first time that it fired on a car carrying five-year-old Hind Rajab and her family.
It also announced that it has launched an investigation into her killing in a statement on Wednesday.
A separate probe will investigate the killing of 15 Palestinian paramedics in Gaza in May 2025, but the military said it would not launch an inquiry into three other high-profile attacks that killed aid workers from World Central Kitchen and Doctors Without Borders.
Read more:
Israeli military announces criminal investigation into killing of Hind Rajab
Trump threatens 'tremendous economic consequences' for any nation that helps Iran financially
Thursday 20 August 2026 00:19 , Rachel DobkinDonald Trump has threatened “tremendous economic consequences” for any nation that helps Iran financially as the war drags on.
“ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences”, the US president wrote on Truth Social Wednesday.
“Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW. You know who you are”, he added.
Iran war inflation continues to impact prices in UK, chancellor says
Wednesday 19 August 2026 23:59 , Dan HaygarthIn response to the UK’s latest inflation figures, published on Wednesday, chancellor John Healey said: “Iran war inflation continues to impact prices here at home, but Britain’s economy is resilient.
“We have cut VAT on electricity bills and capped bus fares at £2 – to give breathing space to those feeling the strain.
“There is more to do to restore hope and build a stronger economy where prosperity is shared more fairly across Britain.”
US military presence in Middle East could be cut back after Iran war ends: report
Wednesday 19 August 2026 22:00 , Dan HaygarthThe Pentagon is considering reducing U.S. military presence in the Middle East following the conclusion of the Iran war, according to a report.
Troops could be withdrawn from the Persian Gulf, officials told The Washington Post, following months of attacks by Iranian forces that have targeted U.S. bases across the region since the war began in late February.
The Pentagon’s policy office is evaluating U.S. regional presence, with U.S. Central Command (Centcom) and Joint Staff also looking at the situation, a senior Pentagon official told the outlet.
While no formal review has been ordered by U.S. defence secretary Pete Hegseth, “decisions are going to have to be made on some of this stuff,” the official told The Post.
Read more:
US military presence in Middle East could be cut back after Iran war ends: report
US warns Siemens devices can be hacked amid fears Iran is breaching water plants
Wednesday 19 August 2026 21:30 , Dan HaygarthSeveral US government agencies warned that unidentified hackers are trying to breach devices made by Siemens that are used to monitor and operate water facilities and other critical infrastructure systems, according to a cybersecurity advisory published on Wednesday, reports Reuters.
The warning comes amid widespread cyber incidents targeting local water systems in multiple states in recent weeks in attacks cybersecurity experts suspect are linked to Iran.
The advisory describes an "active threat" to all Siemens S7 Series programmable logic controllers across multiple critical infrastructure sectors, including manufacturing, energy, water and wastewater, chemical, food and agriculture facilities, according to the warning issued by the National Security Agency, FBI, Department of Energy, Environmental Protection Agency and the Department of Homeland Security's Cybersecurity and Infrastructure Security Agency (CISA).
Depending on specific circumstances, compromises of these devices could lead to the disruption of critical processes, safety incidents, downtime or equipment damage, the compromise of sensitive data, compliance violations and cascading impacts across interconnected systems, the government warned.
Siemens did not immediately respond to a request for comment.
According to the advisory, the hackers are using AI to dramatically reduce the technical expertise and time required to develop exploits that can successfully compromise the systems, the agencies said.
CISA warned on 30 July of a significant increase in hackers targeting programmable logic controllers, following on a 22 July advisory warning of Iranian-affiliated hackers exploiting such devices manufactured by Siemens, Rockwell Automation and Schneider Electric.
Federal officials have stopped short of formally linking Iran to the recent attacks on local water systems, while president Donald Trump said on 31 July that he did not believe Iran was involved.
Instead, he blamed it on Minnesota, the first state to report a wave of at least 30 water-related cyber incidents that occurred on 26 July and 27 July.
Watch: Trump unveils White House helipad as he obsesses over renovations amid Iran war: 'I love construction'
Wednesday 19 August 2026 21:00 , Dan HaygarthStrait of Hormuz tracker: The maps and charts that debunk Trump’s claim the route has reopened
Wednesday 19 August 2026 20:30 , Dan Haygarth
The maps and charts that debunk Trump’s claim the Strait of Hormuz has reopened
Houthis planning to seize Bab al-Mandeb Strait, says Yemeni minister
Wednesday 19 August 2026 20:00 , Suha KidwaiThe information minister of Yemen’s internationally recognised government has warned that Iran-backed Houthi rebels are planning to seize the strategic Bab al-Mandeb Strait in the Red Sea.
Ordinarily, around six per cent of the global total of oil moves through the Strait — enough to inflict significant damage if the supply is cut off.
Information minister, Moammar al-Eryani told AFP that the Houthis are “working to create the conditions for seizing control of the Bab al-Mandeb Strait” by expanding their presence along the western coast and attempting to control islands in the Red Sea.
Turkish government accuses Netanyahu of planning to destabilise region ahead of elections
Wednesday 19 August 2026 19:30 , Suha KidwaiTurkey has rejected Israel’s explanation for its latest strikes on Syria, calling the claims “untenable” and “unlawful.”
Israel struck the Abu al-Duhur airbase in northwestern Syria on Tuesday, saying Syria was close to allowing Turkish troops to deploy at the facility and that this would threaten an existing security arrangement.
The Turkish government has strongly disputed that justification, labelling the claims part of Netanyahu’s “intent to pursue expansionist and destabilising policies in the region ahead of the elections in Israel.”
U.S. special envoy Tom Barrack has described the strike as an “unnecessary escalation,” saying that the United States is working on a deconfliction mechanism between Turkey, Israel and Syria to prevent further confrontation.
In pictures: Israeli strikes on Gaza
Wednesday 19 August 2026 19:00 , Suha Kidwai
Israeli strikes designed to 'spread chaos,' says Gaza interior ministry
Wednesday 19 August 2026 18:30 , Suha KidwaiGaza’s interior ministry has called on international mediators to act to “stop the dangerous Israeli escalation and the massacres committed against the police force,” after Israeli attack in Nuseirat targeted a police station on Wednesday.
In a statement, the ministry has accused Israel of trying to “dismantle the police force in order to spread chaos” and making baseless claims to “justify its crimes.”
The Israeli military has maintained that the strikes were targeting members of Hamas.
US-Iran tensions add further pressure on Washington's bond market
Wednesday 19 August 2026 18:00 , Suha KidwaiThe economic fallout from the escalating U.S.-Iran standoff is being reflected in U.S. financial markets, as uncertainty over the Strait of Hormuz heightens.
The 30-year U.S. Treasury yield has climbed to around 5.32 per cent —its highest level in nearly two decades.
Higher yields stand to increase Washington’s borrowing costs and can tighten financial conditions across the U.S. economy.
This pressure is compounded by oil-market uncertainty, where disruptions to shipping through the Strait of Hormuz could push energy prices higher, prolonging inflation, and potentially limiting the Federal Reserve’s ability to cut interest rates.
Saudi escalation will be met with escalation, say Houthis
Wednesday 19 August 2026 17:30 , Suha KidwaiSince announcing a ban on Saudi maritime navigation on July 20, Houthi forces have barred 48 of the Kingdom’s oil vessels from passing through various locations in the Red Sea, Arabian Sea, and Indian Ocean.
Houthi spokesperson, Yahya Saree, has warned Saudi Arabia against escalation, saying: “Any comprehensive escalation will be met with comprehensive escalation.”
He said Riyadh’s only option remains lifting the Saudi-led blockade, withdraw foreign forces and leave Yemen’s resources to the Yemeni people.
Israel strikes on Gaza cast further doubt on peace for the region
Wednesday 19 August 2026 17:00 , Suha KidwaiIsraeli strikes and raids in Gaza continue to threaten prospects for peace in the region.
Iran has maintained that the Strait of Hormuz will remain closed until the United States meets its conditions, including lifting the blockade on Iranian ports, removing oil sanctions, releasing frozen Iranian assets and ending military threats and operations.
Against this backdrop, continued Israeli military operations in Gaza risk further undermining efforts to secure a lasting regional peace.
While U.S. negotiators reportedly urged Israel on Monday to scale back attacks in the Gaza Strip, at least 14 Palestinians have been killed in Israeli strikes across Gaza on Wednesday alone, according to the Palestinian Red Crescent.
Tehran declares that the US has lost the war as a 'new regional order' is created
Wednesday 19 August 2026 16:30 , Suha KidwaiForeign powers are rapidly losing influence in what has been described as a “new regional order,” by Iranian parliament speaker, Mohammad Bagher Ghalibaf.
In a post on X, Ghalibaf states that both America and Israel have failed to achieve their goals in the region, referring to Netanyahu’s ambitions as “nothing more than a pipe dream.”
The post in full reads: “Dear Abu Mahdi and Haj Qassem! This is the fruit of your struggle and your blessed blood.
“In the new regional order, the interference of foreign powers in relations between countries is rapidly diminishing; America is looking for an honourable exit from the region, and the Zionist regime’s project from the river to the sea has become nothing more than a pipe dream.”
Mahdi and Qassem were members of the Iranian and Iraqi armed forces, respectively, who were both killed after an American drone strike in 2020.
Israeli military claims deadly attacks in Gaza City
Wednesday 19 August 2026 16:00 , Suha KidwaiThe Israeli military has confirmed it carried out attacks in central Gaza’s Nuseirat area and in Gaza City’s Tuffah neighbourhood.
The attacks on Wednesday have killed at least 10 people, and left several more wounded.
🎯STRUCK: A commander in Hamas' military wing in the Nuseirat area in central Gaza, who infiltrated Israel and participated in the October 7 Massacre.
— Israel Defense Forces (@IDF) August 19, 2026
Additionally, the IDF struck a Hamas commander, in the Tuffah area, who planned to carry out terror attacks against IDF troops…
In a post on X, the Israeli military have claimed that the attack targeted a member of Hamas' military wing.
Netanyahu puts NYC mayor Mamdani alongside Iran’s Ayatollah on enemies list - ICYMI
Wednesday 19 August 2026 15:29 , Alex CroftHormuz plan will put strait under control of armed forces, says Iranian lawmaker
Wednesday 19 August 2026 15:00 , Suha KidwaiA proposed Strait of Hormuz security plan would place the control of the waterway exclusively under Iran and the its military, according to the state broadcaster IRIB.
The plan would ban the entry of vessels that are deemed hostile, involved in espionage, or a threat to Iran’s national security, Ebrahim Rezaei, a member of Iran’s parliament, has explained.
Under the proposal, Iran’s armed forces would also set the rules for collecting transit fees and service charges from vessels passing through the strait, Rezaiei added.
