Tankers in the Strait of Hormuz (File)

UPDATE 1837 GMT:

Stocks in the US Strategic Petroleum Reserve fell last week by about 3.7 million barrels to 289.7 million barrels.

The decrease brings inventories to their lowest level since November 1982.

UPDATE 1759 GMT:

US Treasury Secretary Scott Bessent has announced Operation Economic Outcast for an “unprecedented campaign” against Iran “and its enablers”.

We are launching an economic onslaught against Iran’s financial connections around the globe. Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone.

However, the sanctions will not take effect immediately so countries who conduct business with Iran will have the “opportunity to remedy bad behavior”.

Why would I want to blow up the global financial system?

We believe that it’s important to level set and give people a cure period. But they should know that will move very quickly, and that we are serious.

Bessent said sanctions will target “five of Iran’s most vital lifelines that it exploits in other countries — digital assets, technology, gold, aviation, and shipping”.

The Office of Foreign Asset Control was blacklisting more than 60 entities, individuals, and vessels. “You will see a major financial institution being sanctioned by the end of this week over Iran,” he said.

Bessent did not specify which countries will be targeted by secondary sanctions. He would not answer if even when asked by reporters whether China, the largest importer of Iranian oil, will be among them.

UPDATE 1432 GMT:

Yemen’s Iran-allied Houthis say they targeted the Saudi oil tanker Amzan in the Red Sea using ballistic missiles.

The Houthi military spokesman said the tanker was targeted off the coast of Yanbu in Saudi Arabia, “The missile strike was precise and direct, resulting in a large fire on the vessel.”

Earlier today, the UK Maritime Trade Operations center said a tanker was struck by an unknown projectile about 63 nautical miles west of Yanbu. A fire was started in the engine room, but the crew are safe.

UPDATE 1319 GMT:

Iran’s currency, the rial, has weakened to beyond 2,000,000:1 against the US dollar.

The rial stands at 2,012,500:1.

In early 2018, before comprehensive US sanctions, the currency was 45,000:1.

UPDATE 0811 GMT:

A tanker has been struck and set on fire about 63 nautical miles west of Yanbu, Saudi Arabia, reports the UK Maritime Trade Operations center.

The ship’s company security officer reported that all crew are safe and accounted for, with no environmental impact from the strike.

UPDATE 0706 GMT:

High-level Syrian and Israeli delegations met in Jordan’s capital Amman on Sunday, attempting to defuse tensions over Israeli attacks and occupation of part of southern Syria.

The teams were led by the head of Israel’s Mossad intelligence service, Roman Gofman, and Syrian Foreign Minister Asaad al-Shaibani.

A Syrian diplomatic official said discussions focused on practical mechanisms to halt Israeli attacks and arrests, and to revive negotiations for a security agreement.

Damascus stressed its right as a soverieign state to rebuild and develop its military and to choose its alliances. The Syrian delegation said its immediate priority is the withdrawal of Israeli troops from occupied areas and a return to the 1974 Disengagement Agreement.

The meeting also discussed efforts to reduce tensions between Türkiye and Israel, following last week’s Israeli attack on an airbase in northwest Syrian where Turkish units were delivering weapons and materiel.

UPDATE 0521 GMT:

Only 13 monitored vessels crossed the Strait of Hormuz on Saturday and four on Sunday.

US officials claim tankers, with millions of barrels of oil per day, are transiting “dark” with their transponders turned off.

UPDATE, AUG 24:

The US Ambassador to Türkiye and envoy to Syria, Tom Barrack, has withdrawn his remark that Israel occupied Syria’s Golan Heights.

Barrack said last week that the territory, seized by Israel in 1967, is occupied against “all of the international order”.

On Sunday, he retreated, “United States policy on the Golan was set by President Trump in 2019 and is unchanged.”

No other country has recognized the Golan as part of Israel.

Last week Barrack criticized Israel’s strikes on the Abu al-Duhur airbase in northwest Syria.

The Israelis fired five missiles, damaging a runway, as Türkiye delivered weapons and materiel to the base.

On Sunday, Israeli forces raided near the village of Al-Rafid in southwest Syria. They detained a shepherd as he worked and took him into occupied territory.

Several Israeli military vehicles moved into the village of Ma’ariya in western Daraa Province.

UPDATE 0736 GMT:

Iranian authorities have executed another participant in last December’s nationwide protests over economic and political conditions.

Majid Adineh was hanged this morning west of Tehran. He was arrested during demonstrations in Karaj, with authorities claiming he had “full military equipment” including a pistol, 30 bullets, two electric stun guns, two tear gas spray canisters, a cordless chainsaw and a bottle of gasoline.

He was found guilty by the Karaj Revolutionary Court of “carrying out operational activities in favour of hostile groups and the Zionist and American regimes”.

Alongside China as the world’s leading executioner per capita, Iran has hanged around 30 participants in the December-January protests since the US-Israel War began.

UPDATE 0559 GMT:

An Israeli defense official says a backchannel has been established with Türkiye to prevent further conflict in Syria.

Last week Israel struck the Abu al-Duhur airbase in northwest Syria, with five missiles damaging a runway, as Türkiye delivered weapons and materiel.

The US as well as regional countries joined Ankara in criticism of the attack.

While highlighting the channel, the official did not back away from the strikes: “Israel has no desire to turn Türkiye into an enemy. [But] when the messages don’t help, Israel is forced to act.”

Foreign Minister Gideon Sa’ar said Saturday night that Israel has “no interest in escalation with Türkiye” while emphasizing, “We will not accept the establishment of Turkish bases in Syria.”

Israel told the US that Türkiye was planning to set up an air defense system on the airbase, said “sources familiar with the matter”. The Israelis said the system would interfere with Israel’s air superiority in the region and change the balance of power.

Donald Trump’s special envoy in the region, Tom Barrack challenged the claim in an online interview: “We all did our due diligence. We went back to our perspective intelligence agencies. The answers we got is, no, that’s not happening.”

UPDATE 0552 GMT:

Claims are circulating that Iran-linked hackers shut down a small power plant in the UK for four days.

The British Government acknowledged the attack but said there was no risk to the UK’s energy system. The Department for Energy Security and Net Zero contacted power companies to advise them about the risk of cyber-attacks.

The Department said a small-scale gas generator was affected.

UPDATE, AUG 23:

Mohsen Rezaei, the head of Iran’s Supreme National Security Council, has warned regional countries over the US “economic war” trying to break the Iranian regime.

Rezaei told State TV that Iran would aim at oil-shipping routes out of the Persian Gulf if neighboring countries joined the American warfare. The countries would be “considered an enemy” and “we will target their interests”.

He declared, “So far, we have only targeted military bases, but if they want to impose economic sanctions on us, the United States has oil and economic companies around Iran and elsewhere, and we will strike them.”

On Saturday, President Masoud Pezeshkian said Iran wants to get beyond a “no war, no peace” situation. He summarized that Iranian officials are discussing almost daily how to move beyond the situation. They want to reach an understanding that would preserve Iran’s principles and values, while deterring adversaries from contemplating another attack.

Pezeshkian noted that war offered no solution and prolonged uncertainty about whether fighting will resume is taking an economic toll on the country, including difficulty in attracting investment.

UPDATE 1600 GMT:

The Syrian Foreign Ministry has condemns Israel’s latest strike in southwest Syria:

This attack constitutes a flagrant violation of the sovereignty of the Syrian Arab Republic and the integrity of its territory, and a blatant breach of international law, and comes in the context of repeated Israeli attacks on Syrian territory.

UPDATE 1320 GMT:

The Israel Defense Forces have again struck southwest Syria.

The strike on Beit Jinn, around 10 km (6 miles) from the border, injured one person.

The Israeli military declared that it targeted an operative “who advanced terror attacks in final stages of preparation”.

Tom Barrack, Donald Trump’s special envoy, has reiterated his criticism of the Israeli strike earlier this week on Abu al-Duhur airport in northwest Syria.

The Israelis attacked after Turkish forces delivered weapons and materiel to the base. Türkiye has strongly protested, and denied the Israeli Government’s claim that it was planning the permanent deployment of forces at Abu al-Duhur.

The Israelis fired five missiles, damaging a runway, despite a two-hour conversation between the head of the Mossad intelligence service, Roman Gofman, and Syrian Foreign Minister Asaad al-Shaibani.

Barrack said one theory was that Israeli leaders are “baiting” Türkiye into a conflict for electoral benefit. The other is miscommunication between the Israel Defense Forces, the Mossad, and Prime Minister Benjamin Netanyahu’s office.

Barrack also challenged Israel’s claim that Turkey was moving military assets into the airbase.

To Israel’s credit, it told the US some six days before the strike that it had intelligence indicating there might be Turkish movement into this site.

We all did our due diligence. We went back to our perspective intelligence agencies. The answers we got is, no, that’s not happening.

Israel Defense Minister Israel Katz insisted that the military recommended the attack because Türkiye was planning activities that could threaten Israeli security.

He said Israel conveyed a warning to the Syrian government “at the highest levels” before approving the attack and shared the intelligence with US officials. The strike proceeded after Syria did not respond to the Israeli demand.

UPDATE 0605 GMT:

Israel continued artillery shelling and demolitions in southern Lebanon overnight.

Shelling and demolition operations were reported on the town of al-Mansouri, around Bayt al-Sayyad, and on the outskirts of Majdal Zoun. Lebanon’s State news agency noted, “No homes remained undamaged.”

Demolitions were also reported in Haddatha, Beit Yahoun, and Aita al-Jabal. Israeli drones are flying continuously over villages and towns.

ORIGINAL ENTRY: Refusing to negotiate with Iran on the basis of June’s Memorandum of Understanding and trying to break Tehran’s economy, the Trump camp claims it is taking control of the Strait of Hormuz.

Monitored traffic through the Strait, through which around 20% of maritime oil and gas passed before the US-Israel War on Iran, is still restricted. Only 103 ships entered the waterway and 89 departed over the past week, reports the UK Maritime Trade Organization.

Tankers made up around 45% of the passages.

Up to the launch of the war on February 28, daily traffic was around 135 vessels.

However, Trump officials maintain that many more tankers are crossing the Strait “dark”, with transponders turned off.

Energy Secretary Chris Wright proclaimed that the US military helped ship more than 15 million barrels of oil and other products out of the Strait on Tuesday.

The 7-day average is now more than eight million barrels a day, Wright said: “Make no mistake, thanks to the US Navy, oil is flowing through the Strait of Hormuz.”

US officials say operations are being overseen by a military command in North Carolina. The ships move along the Omani route on the south of the Strait.

Donald Trump blustered on Friday, “We have total control of that entire region having to do with the Strait of Hormuz.”

However, even if Wright’s claims are accurate, the movement of oil is still less than 1/2 the average of 20 million bpd before the war.

The global price of oil continues to climb. Brent stands at $94.39 per barrel and West Texas Intermediate is at $87.06.

UPDATES: US War on Iran, Day 179 — Can Trump Camp Break Iranian Control of Strait of Hormuz?