- On August 30, 2026, U.S. forces struck two launchers on Iran's Larak Island in the Hormuz Strait, marking the first known American strikes on Iran since late July.
- The U.S. strikes resulted in casualties according to Iran's Revolutionary Guard Corps, which in turn attacked U.S. military targets in Jordan, as reported by state media.
- Iran's Revolutionary Guards said they attacked technical infrastructure, maintenance facilities, and enemy fighter jet positions at the U.S.-operated King Hussein and Al-Azraq airbases in Jordan with ballistic missiles, causing heavy damage, according to state TV.
- Jordan's army said on Monday (August 31, 2026) it had intercepted eight missiles that breached the kingdom's airspace, shortly after Iran's Revolutionary Guards claimed attacks on U.S. targets in Jordan.
- Following the U.S. attack and Iranian retaliation, oil prices jumped more than $1 a barrel on Monday (August 31, 2026), with Brent crude futures climbing $1.08 (1.23%) to $89.18 a barrel and U.S. West Texas Intermediate crude up 92 cents (1.10%) to $84.32.
- U.S. Treasury Secretary Scott Bessent told *Reuters* on Sunday (August 30, 2026) that new secondary sanctions were likely to be unveiled weekly to pressure Iran, with an initial focus on banks.
- Mr. Bessent stated, “We’re starting with the banks, and we’re telling the banks it’s not okay to have Iranian money and to aid the regime, and after imposing penalties on UAE branches of Egypt's Banque Misr, he said the next step may be cutting off an institution entirely from the dollar-based financial system.
The U.S. military conducted airstrikes on Iranian rocket launchers on Larak Island on August 30, marking its first action against Iran in a month.
Iran's Revolutionary Guard Corps reported casualties from the strikes, prompting a retaliatory attack on U.S. military bases in Jordan.3
The Guards targeted technical infrastructure and maintenance facilities at the U.S.-operated King Hussein and Al-Azraq airbases, causing heavy damage, according to state media.4
Jordan's army intercepted eight missiles launched by Iran, which breached the Kingdom's airspace.56
In the wake of these developments, oil prices surged over $1 a barrel, with Brent crude futures climbing to $89.18 and U.S. West Texas Intermediate crude reaching $84.32.
U.S. Treasury Secretary Scott Bessent indicated that new sanctions against Iran would be introduced weekly, focusing initially on banks.910
“You’re going to see a lot more of these every week,” Bessent stated, emphasizing the U.S. commitment to pressure Iran financially.
“Iran's Revolutionary Guards claimed to have caused heavy damage at the U.S.-operated King Hussein and Al-Azraq airbases in Jordan with ballistic missiles, while Jordan's army intercepted eight missiles. Oil prices rose over $1 a barrel, with Brent crude at $89.18, as Treasury Secretary Scott Bessent signaled weekly secondary sanctions starting with banks.”
