Iranian Foreign Minister Abbas Araghchi on Thursday, August 20, dismissed US President Donald Trump’s newly announced economic pressure campaign against Tehran as a continuation of what he described as “failed policies”, warning that it would bring Washington “further defeat”.
Trump had announced the campaign shortly before Araghchi’s remarks, describing it as “Economic Warfare and Isolation on an unprecedented scale”. He warned that any country whose financial institutions, businesses, airports or government entities provide a lifeline to Iran would face what he called “TREMENDOUS Economic Consequences”.
In a post on X, Araghchi said the so-called “Economic D-Day” was a diversion from what he described as America’s “unprecedented debt” and surging interest costs.
He warned that doubling down on failed policies would only bring further defeat and the “enmity of Iranians”.
Araghchi also accused the United States of pursuing “economic terrorism”, saying it threatens the global economy and sovereignty worldwide.
Oman calls for lasting security in Hormuz
Oman said lasting security in the Strait of Hormuz requires permanent peace in the region and rejected further escalation or conflict.
Omani Foreign Minister Badr Al Busaidi conveyed the position during a conversation with his Japanese counterpart Toshimitsu Motegi on Thursday.
Al Busaidi said Oman remains committed to working with international partners to support dialogue, justice and peaceful solutions. He also stressed the importance of partnerships based on trust, realism and diplomacy amid uncertainty in the region and the wider world.
IRGC says Iran continues weapons development
An Islamic Revolutionary Guard Corps spokesman said Iran was continuing to develop and produce weapons with greater precision, destructive power and technological capability.
He said Iran had never stopped producing or developing weapons and was making progress every day.
The spokesman warned that if another war broke out, Iran’s weapons would be different from those used previously, potentially involving changes to warheads, accuracy or missile range.
18 US troops killed, 757 wounded
At least 18 US military personnel have been killed and 757 wounded since the start of the war with Iran, according to Pentagon casualty data cited by CNN.
The Pentagon recorded more than 50 additional wounded personnel in a database update on Wednesday, taking the number of injured US service members above 750.
Gharibabadi accuses US of seeking allies
Iranian Deputy Foreign Minister Kazem Gharibabadi accused Washington of seeking help from its allies despite claiming that Iran was close to defeat.
“They claim Iran is on the verge of defeat, hanging by a thread, yet they are begging all their allies to help them!” he said in a post on X.
Gharibabadi also pointed to US public debt surpassing $40 trillion and argued that the military campaign had failed to achieve its objectives.
“The military war didn’t yield results, so now they’ve named the next failure ‘economic war’,” he said.
UKMTO reports tanker incident off Yemen
The United Kingdom Maritime Trade Operations said on Thursday that it had received a report of an incident involving a westbound tanker about 136 nautical miles, or roughly 252 kilometres, east of Yemen’s Mukalla.
The tanker reported being approached by an unauthorised vessel in the Gulf of Aden.
UKMTO provided no further details and did not say whether the vessel or its crew were safe.
IRGC warns Saudi Arabia over Houthi attacks
IRGC spokesman Hossein Mohebi warned that Saudi Arabia would be unable to contain the Iran-backed Houthis in Yemen or prevent attacks against the kingdom.
Speaking to Defa Press, Mohebi said Saudi Arabia would not be able to contain Yemen and Ansar Allah, another name for the Houthis, or remain safe from their attacks.
He said recent developments showed that the more Saudi Arabia attacks, the stronger the response would be.
Trump criticises South Korea over Hormuz
Trump expressed dissatisfaction with South Korea over Seoul’s reluctance to assist Washington in securing the Strait of Hormuz.
Speaking to reporters at the White House, he pointed to South Korea’s dependence on oil transported through the waterway.
“I was not happy when South Korea said, no, they’re not interested in helping us with the Hormuz Strait, and yet they get 60 per cent of their oil from the Hormuz Strait,” Trump said.
He also questioned the conduct of large-scale joint military exercises aimed at North Korea, highlighting wider friction over burden-sharing and regional security.
IRGC adviser says he trusts taxi driver more than Trump
Brig Gen Mohammad Reza Naqdi, an adviser to the IRGC, described Trump as “short-sighted” and “childish” and questioned the reliability of his statements.
In a video circulated online, Naqdi said Trump lacked a long-term vision and claimed the US President’s statements had no foundation or consistency.
He added that he would trust the word of a taxi driver more than Trump’s.
Hormuz shipping traffic remains unchanged
Shipping traffic through the Strait of Hormuz did not increase on Wednesday as the deadlock between Washington and Tehran continued.
Reuters, citing Kpler data, reported that commodity vessel transits through the waterway totalled nine on Wednesday, unchanged from the previous day.
US establishes southern shipping route
The US military has quietly established a shipping route through the southern part of the Strait of Hormuz to facilitate the movement of oil, Axios reported, citing two US officials.
The operation, which reportedly began several weeks ago, has allowed between 15 and 20 oil tankers to enter and exit the strait through a southern channel along the coast of Oman.
The officials said around 10 million barrels of oil a day — roughly half the volume transported before the war — were being moved towards global markets.
The operation reportedly goes beyond escorting loaded tankers. US forces are also helping empty tankers enter the Gulf from the Arabian Sea, load oil from countries in the region and return through the strait.
One US official claimed that American forces had controlled the southern passage for two months, while saying the IRGC did not control the waterway.
Most crossings use Omani route
CNN, citing Kpler data, reported that more than 80 per cent of ship crossings through the Strait of Hormuz during the previous two weeks used the Omani route, a UN-approved shipping lane strongly opposed by Iran.
Separately, Al Jazeera’s Open Source Unit monitored maritime traffic from Tuesday, August 18, until Wednesday morning, August 19.
MarineTraffic data showed 10 crossings involving nine ships during that period. Four operations were directly linked to Iran, two crossings used the Omani route and seven operations were linked to China or Hong Kong.
