★ IRAN
US Destroys Five Iranian Oil Tankers
U.S. Central Command said it destroyed five Iranian crude-oil carriers Tuesday after the IRGC twice targeted a U.S. Navy warship with ballistic missiles over the previous two days. The warship evaded both attacks, and no U.S. personnel were harmed. Crews abandoned Kaviz, Charminar, Horizon 1 and Riesco before U.S. strikes in the Gulf of Oman; Derya, a cargo-empty NITC VLCC, was struck near Kharg Island. TankerTrackers said the five had moved 45 million barrels of Iranian crude and products since May 2019. Derya had also tried to deliver 1.88 million barrels to India in April before changing course. CENTCOM said the tankers funded the IRGC and regional proxies through a multibillion-dollar network.
U.S. Sanctions 27 Iranian Airlines
The U.S. Treasury sanctioned 36 Iran-linked aviation targets Tuesday, including 27 Iranian airlines, as part of Operation Economic Outcast. Treasury said the measures also targeted foreign intermediaries and procurement networks in Turkey, the UAE, Malaysia, and Kazakhstan that helped Iran obtain U.S.-origin aircraft and sensitive technology. The action also suspended key aviation authorizations, further restricting Iran’s access to aircraft, parts, fuel, and regional air services.
Iran Fires 20 Missiles, Vows Powerful Battle Will Continue
Iran’s Revolutionary Guard fired 20 ballistic missiles at al-Azraq Airbase in Jordan in retaliation for U.S. tanker strikes. Jordan said it engaged all 20, intercepted 18, with two falling in unpopulated areas and no casualties. The IRGC claimed hits on maintenance hangars, aircraft-preparation facilities and F-35, F-16 and F-15 shelters, plus “significant damage” to USS Delbert D. Black and USS John Paul Jones; the U.S. has not confirmed either claim. The IRGC Navy also ordered tanker crews near Kuwait and Bahrain to abandon vessels, saying they “will be targeted,” and accused both states of aiding U.S. attacks. Reuters and AP reported the warning; threatened strikes remain unconfirmed. The IRGC vowed to continue until U.S. attacks cease: “This powerful battle will continue.”
Iran Flaunts Capture of American Underwater Drone
Iran’s Revolutionary Guard displayed and celebrated the capture of an American Anduril Dive-LD underwater drone Tuesday, portraying it as proof of Iranian surveillance superiority near the Strait of Hormuz. See Video. The Pentagon confirmed losing the drone but said it malfunctioned more than a day earlier and contained no sensitive data. Press TV flaunted the incident, quoting an IRGC spokesman declaring Iranian “dominance over the Persian Gulf” and taunting Washington: “Go back to the Bay of Pigs.” Reuters could not independently verify Iran’s account of the capture.
Iran Turns to Russia as US Blockade Disrupts Trade
Iran is prioritizing Russia and Eurasia to secure essential goods as a US maritime blockade disrupts trade through southern ports. Economy Minister Ali Madani Zadeh said Tehran is seeking alternative land routes, despite trucking and customs delays at Astara. Iran also aims to deepen economic ties with Russia and reduce reliance on vulnerable maritime trade routes.
Brent Crude Surpasses $100 During Escalating US-Iran Conflict
Brent crude rose above $100 a barrel for the first time since July, gaining more than 2% as US-Iran tensions intensified and China resumed oil purchases. Prices have risen over 60% this year, while disruptions around the Strait of Hormuz and Red Sea threaten further inflationary pressure on global economies and central banks.
Iran Turns to Crypto as US Economic Pressure Intensifies
Iran is increasingly turning to cryptocurrencies, particularly dollar-pegged stablecoins, to bypass US sanctions and offset collapsing oil revenues and liquidity shortages. Tehran has quietly eased foreign-currency restrictions to encourage capital inflows amid a plunging rial and rising inflation. Economists warn these digital networks could trigger further sanctions if Washington succeeds in tracing them.
Iranian Funds Exploit US Banks Despite Sanctions
The Wall Street Journal reports that about $9 billion linked to covert Iranian activities passed through US banks in 2024 via foreign banks, shell companies and correspondent accounts. Iran reportedly used intermediaries in China, Hong Kong and the UAE to obscure transactions, exposing gaps in Washington’s sanctions regime and the difficulty of dismantling Tehran’s parallel financial networks.
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★ ISRAEL
UK Sanctions Five Israeli Settlers and Hezbollah-Linked Bank
The UK announced sanctions against five Israeli settlers over alleged human rights abuses, alongside broader restrictions on goods from West Bank settlements. London also sanctioned Hezbollah-linked Al-Qard Al-Hassan, accusing it of financing the group. The targeted settlers include Avichai Suissa, Baruch Marzel, Ben-Zion Gopstein, Eliav Libi, and Meir Ettinger.
Israel Closes British Consulate in Jerusalem Over Settlement Sanctions
Israel announced it will close the British consulate in Jerusalem in retaliation for UK sanctions targeting Israeli settlements in the West Bank. Foreign Minister Gideon Sa’ar also ordered British representatives to be expelled from a Gaza ceasefire monitoring center, and training programs for Palestinian security forces ended. The move followed coordinated trade restrictions announced by 12 countries.
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★ EGYPT
Hormuz Disruptions Boost Suez Canal Revenue by 42%
Suez Canal revenue rose 42% year-on-year to $505 million in July, as the effective closure of the Strait of Hormuz and Houthi threats in the Red Sea redirected more vessels to Egypt’s waterway. Ship traffic increased 27% to 1,340 vessels, including 526 oil tankers, marking the canal’s strongest monthly revenue since December 2023.
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★ Disclaimer: This publication is a digest of various news sources compiled by the Early Phoenix team and edited by Rania Kisar. The items are curated, concise summaries of news items hyperlinked within each story. The items and summaries presented do not necessarily represent the views of the American Center for Levant Studies.
