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Last updated: 2026-08-22 11:31:54 ET
Treasury Secretary Scott Bessent says the U.S. is planning to impose devastating sanctions on Iran as war with the U.S. drags on. CBS News' Olivia Rin...
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US president pivots towards ‘crushing’ economic operation against Iran and its trading partners as military strikes fail to bring Tehran to the ta...
The announcement extends a pressure campaign the Trump administration has waged since April under the banner Operation Economic Fury.
It comes after a 60-day ceasefire expired on Monday, with no sign of a diplomatic or military off-ramp to the conflict.
The yield on the 30-year Treasury this week hit its highest level since 2007, a rise that could put upward pressure on borrowing costs.
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Saudi Arabia and the United Arab Emirates are seeking larger oil reserves in Japan and South Korea as regional conflict threatens supply routes.
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