US President Donald Trump said some American allies in the Middle East adopted a “semi-neutral” position in the armed conflict between the United States and Iran. He said Iranian missiles unexpectedly struck countries including Saudi Arabia, Qatar, the UAE, Kuwait and Bahrain after the conflict began. Iranian authorities have repeatedly said Tehran targeted only US military bases, not regional countries.

US-Iran conflictMiddle EastDonald Trumpmissile strikes

The United States urged its allies and China on Thursday to participate in efforts to isolate Iran’s economy. President Donald Trump is seeking to intensify pressure on Tehran amid a wartime stalemate and mounting criticism at home.

United StatesIraneconomic pressure

US Treasury Secretary Scott Bessent said Washington will impose “the toughest sanctions in history” on Iran, with the economic pressure likely to prevent a kinetic restart on the battlefield. Iranian Foreign Minister Abbas Araghchi called the strategy a doubling down on failed policies. Brent crude climbed sharply, closing at $93.78 a barrel.

United StatesIraneconomic sanctionsoil prices

US Vice President J.D. Vance acknowledged that Washington cannot predict how long its economic pressure on Iran will last. He said Iran is facing intense pressure and that the US goal is to prevent it from obtaining a nuclear weapon. Trump previously announced the “most crushing economic operation” against Iran and warned entities supporting Tehran of serious consequences.

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Iran’s Foreign Ministry said the United States’ tighter sanctions amounted to “economic terrorism” and a crime against humanity, warning that those who devised or enforced them would face appropriate punishment. It called the measures a continuation of failed US policy and said they would not weaken Iran’s resolve to defend its independence and sovereignty.

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U.S. Treasury chief Scott Bessent said the United States would impose what he called “the toughest sanctions in history” on Iran, suggesting the move could reduce the need for new major military operations.

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US Treasury Secretary Scott Bessent says Washington will impose its “toughest sanctions in history” to “collapse” Iran’s government, warning that countries maintaining economic ties with Tehran will face consequences.

IranUS sanctionseconomic pressureChina

Russian Permanent Representative to the UN Vasily Nebenzya said the United States, rather than Iran, should be blamed for the latest escalation in the Middle East. He attributed the conflict to what he called Washington’s reckless and unprovoked aggression against Iran, and said Iran was not the party that withdrew from mediated US-Iran agreements.

Middle EastUnited StatesIranRussia

US Treasury Secretary Scott Bessent says Washington will impose its “toughest sanctions in history” on Iran alongside a blockade, claiming the measures will collapse the government. He warned countries trading with Tehran could face penalties, while declining to say whether China would be targeted.

US sanctionsIraneconomic isolationStrait of Hormuz

US Treasury Secretary Scott Bessent urged allies to choose whether they support Washington’s effort to “squash” Iran’s economy, warning that countries doing business with Tehran could face US sanctions. He described the planned measures as the world’s largest coordinated economic isolation campaign, with more details due on 24 August.

United StatesIraneconomic sanctionsScott Bessent

U.S. national debt could hit a record $40 trillion this week, reaching the milestone months earlier than projected by the Congressional Budget Office. Some economists are voicing concerns about the implications for the U.S. economy.

U.S. national debteconomyfiscal deficit

US gross national debt has exceeded $40 trillion for the first time, government figures show, rising faster than previously forecast and partly driven by President Donald Trump’s invalidated tariffs. The increase undermines Trump’s campaign promise to reduce public spending and has drawn criticism from representatives across the political spectrum.

US national debtDonald Trumppublic spending

US government debt has exceeded $40 trillion for the first time, according to the Treasury. The article links the rise to prolonged borrowing, higher spending and tax cuts under both parties, warning that debt has doubled since 2017 and is projected to reach 120 percent of GDP by 2036.

US debtfiscal crisisDonald Trump

Treasury data shows US national debt has crossed $40 trillion for the first time. Experts warn that rising borrowing and interest costs could fuel inflation, crowd out other spending priorities and raise borrowing costs for households and businesses; public debt reached 122.6% of GDP in the first quarter of 2026.

US national debtfiscal deficitinterest costsinflation

US gross national debt has exceeded $40tn for the first time, reaching the highest level in the country’s history. The deficit has doubled over the past decade as spending rose under Donald Trump and Joe Biden. Democrats blamed Trump and the Republican-controlled Congress, while Republicans also condemned uncontrolled spending.

US national debtfiscal deficitUS politics

President Javier Milei has persuaded Argentines to return their savings to banks, but getting them to leave the money there for more than a few months is proving difficult.

ArgentinaJavier Mileibank savingslending

At the Chinese Communist Party’s centenary celebrations in 2021, Evergrande founder Hui Ka Yan mingled with powerful figures and smiled broadly, showing no apparent sign of the mounting pressure on China Evergrande Group, the world’s most indebted property developer.

Hui Ka YanChina Evergrandeproperty sectorlife sentence

A Chinese court sentenced Evergrande founder Hui Ka Yan to life in prison, confiscated his personal property and revoked his political rights for life. Hui had pleaded guilty to fraud, corporate bribery and illegally taking public deposits. Evergrande and its main subsidiary were also fined billions of yuan, while five other executives received prison terms and fines.

Hui Ka YanEvergrandeproperty crisisfinancial fraud

Evergrande, the property giant seen as the face of China’s real estate troubles, reached a painful conclusion to its years-long saga on Thursday, as courts ordered fines and prison terms. The rulings raise questions about their implications for China’s economy.

EvergrandeChina economyreal estate crisis

A Shenzhen court has sentenced Evergrande founder Hui Ka Yan to life imprisonment for crimes including fundraising fraud, embezzlement and corporate bribery. His personal assets will be confiscated and illegal gains recovered, while Evergrande Group and Evergrande Real Estate were fined a combined 15.82 billion yuan. Five senior executives were also sentenced.

Hui Ka YanEvergrandeproperty crisiscourt ruling

China sentenced the founder of troubled property developer Evergrande to life in prison on Thursday and fined the group more than $2 billion. The offences included fraud, five years after its high-profile default.

Evergrandeproperty sectorfraud

Hui Ka Yan, founder of China’s Evergrande, has been given a life sentence and had his personal assets confiscated after pleading guilty to charges including embezzlement and corporate bribery. A Shenzhen court also fined Evergrande 8.82bn yuan and its property arm 7bn yuan, marking a key moment in the fallout from the developer’s collapse.

EvergrandeHui Ka Yanproperty crisisChina economy