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economicAug 31, 2026

Iran could face economic collapse in months, US Treasury’s Bessent warns

Summary

Treasury Secretary Scott Bessent weighs in on the US's economic pressure campaign at a meeting of G20 finance ministers.

Source: Al Jazeera — Read the full report

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Oman reported rescuing 25 people from a burning oil tanker in the Strait of Hormuz. Concurrently, Iran stated that three oil tankers were halted while attempting to use "unauthorised routes" to cross the strait.

Location: Strait of Hormuz