US Imposes Sweeping New Sanctions Against Iran Amid Escalating Tensions

The US has announced a sweeping new set of sanctions against Iran, launching an 'unprecedented' economic campaign aimed at severing Tehran’s international financial ties. Amid these developments, Pakistan's army chief visits Iran on a mediating mission, while Iran portrays the US sanctions as a sign of military failure.

Meanwhile, the Saudi national shipping company reports that a tanker was involved in a 'security incident'. China and Jordan state that any deal should address the 'root causes' of the US-Iran war, even as the US warns allies to back its Iran strategy.

President Trump stated that Iran is not ready for the 'right' deal and claimed that the Strait of Hormuz will be 'territory' of US. Trump also admitted an Air Force One escape over an Iran threat and noted how US missile and air-defence funding requests have surged. In related regional updates, Pope Leo renews an appeal for Gaza aid and reconstruction, South Lebanon ridgeline could be the next flashpoint, and Israeli strikes in Gaza kill two people. Additionally, Manus on Markets reports that the UAE halts trade with Iran, and questions remain regarding how lethal the Houthis' military arsenal is.