The IMF stated it is closely monitoring the potential economic impacts of proposed US measures to tighten restrictions on Iran and enforce secondary sanctions, with a fuller assessment planned for upcoming reports. This economic pressure follows a shift from large-scale military strikes to sanctions, occurring after both sides signed a memorandum of understanding in June that included an immediate cessation of hostilities.

The IAEA reported observing construction activity at Iran’s Pickaxe Mountain, a fortified site near Tehran that the agency has not yet inspected, though remote imagery suggests new movement. While President Trump publicly cited this reported activity to warn against Iranian deception, independent verification of the site’s specific nuclear capabilities remains limited due to access restrictions and historical disputes over IAEA integrity.

IAEA Director-General Rafael Mariano Grossi stated that satellite imagery indicates construction activity at Iran’s Pickaxe Mountain site, though the agency has not yet conducted an inspection. This statement follows reports citing CSIS analysts who described the recent work as internal construction and reinforcement, while noting the facility is not currently capable of enrichment.

Concurrently, US President Donald Trump threatened potential strikes on the site, amidst reports that the US military is developing a new bunker-buster munition to target deeply buried structures.

President Trump stated that the U.S. will continue targeting Iranian tankers as the conflict in the Strait of Hormuz enters its seventh month, despite initial administration estimates predicting a much shorter timeline. While Trump publicly asserted that the war would end immediately after the upcoming election, a Wall Street Journal report indicates that senior advisors have privately warned him the conflict could extend through the remainder of his term.