- Trump threatens new strikes on Iran's nuclear site.
- US treasury secretary Scott Bessent spoke with Bahrain's finance minister, stressing that Iran must not be permitted to threaten international commerce or use the Strait of Hormuz as leverage against the global economy.
- Bessent emphasized sustained financial pressure on Iran's remaining economic lifelines and said that the US will hold the regime's financial enablers accountable.
- The US sanctioned four India-based companies and three Indian nationals over their alleged involvement in Iran's petroleum and petrochemical trade, with one company allegedly involved in imports worth about $69m.
- A strike on an oil tanker off Oman's coast disabled the ship's engine, with all crew reported safe and no immediate reports of environmental impact.
- Iran says it has agreed with Oman on establishing a temporary 11km-wide transit route through the Strait of Hormuz, but deputy foreign minister Kazem Gharibabadi said the arrangement does not mean opening the Strait of Hormuz.
- Iranian parliament speaker Mohammad Bagher Ghalibaf said Iraq could play a decisive role in shaping a new regional order, describing the moment as historic for both countries.
- US senator Chris Van Hollen accused Donald Trump of personally profiting from the illegal war with Iran, citing a Democratic report that found the president's oil and gas holdings may have gained up to $15.5m this year.
Tensions in the Strait of Hormuz are escalating as the U.S. imposes sanctions on four India-based companies and three individuals for their alleged roles in facilitating Iran's oil trade. The sanctions target firms accused of importing Iranian petroleum products worth tens of millions of dollars, with one company allegedly involved in imports valued at $69 million.4
The sanctions are part of a broader U.S. strategy to cut off Iran's oil revenues, which includes targeting around 60 Iran-linked individuals, entities, and vessels. U.S. Treasury Secretary Scott Bessent emphasized the need for sustained financial pressure on Iran, stating, “Iran must not be permitted to threaten international commerce”.23
In a related incident, a tanker was struck off Oman's coast, disabling its engine, although all crew members were reported safe. The British military's United Kingdom Maritime Trade Organisation confirmed the attack but noted no immediate environmental impact.
Iran has announced an agreement with Oman to establish a temporary transit route through the Strait of Hormuz, although Iranian officials clarified that this does not equate to opening the strait. Meanwhile, Iranian parliament speaker Mohammad Bagher Ghalibaf suggested that Iraq could play a “decisive role” in shaping a new regional order as U.S. forces prepare to withdraw from the country.7
In a political context, U.S. Senator Chris Van Hollen accused former President Trump of profiting from the “illegal” war with Iran, citing a report that suggests Trump's oil and gas holdings may have gained up to $15.5 million this year.8
“The US has sanctioned four India-based companies and three Indian nationals over alleged Iran petroleum trade, with one firm linked to $69m in imports. Separately, a strike on an oil tanker off Oman disabled its engine, though all crew were safe, and Iran agreed with Oman on an 11km-wide transit route through the Strait.”
The Independent
