War returns to Iran with Israel, US strikes

Iranian Foreign Minister Abbas Araghchi has discussed “the latest developments and issues of bilateral, regional, and international significance” with his Austrian counterpart, Beate Meinl-Reisinger, in a phone call, according to the state news agency IRNA.

For decades, the Gulf served as the centre of gravity for much of Lebanon’s creative talent, with swathes of designers and marketing executives flocking to its cities to find clients or relying on its foundations and cultural centres for funding, Reuters reports.

But with Gulf economies now under pressure from a nearly six-month-old regional war, Lebanese creatives say financing and work opportunities are drying up.

Uncertainty linked to the conflict has prompted Gulf-based clients to postpone projects, reduce budgets and slow payments, leading to layoffs and income declines, Lebanese professionals in advertising, branding and communications told Reuters.

Fashion school Creative Space Beirut (CSB) relied on donations and partnerships with individuals and institutions in the Gulf to keep its courses free for underprivileged students.

CSB hoped those avenues could yield $500,000 this year, but its co-founder and CEO Sarah Hermez told Reuters the regional war meant Gulf-based donors went into “survival mode” and that many “promises weren’t able to be met”.

Read the full story here.

Israeli warplanes and drones have attacked in intervals, targeting the al-Mashaa neighbourhood and the agricultural outskirts of the town of al-Mansouri in the Tyre district of southern Lebanon, Al Jazeera reports, citing the National News Agency.

These attacks were coupled with other offensive operations in the town of al-Mansouri, southeast of Tyre.

A senior Iranian official has said the general principles of a strategic action plan to manage the Strait of Hormuz have been agreed upon in a meeting of the Parliamentary Committee on Councils, Al Jazeera reports, citing Iranian media.

Valiullah Bayati, a spokesperson of the committee, told Iran’s Tasnim news agency that “the strategic action plan to ensure the security and progress of the Strait of Hormuz and the Persian Gulf was reviewed by the Councils’ Commission and, after hearing the opinions, its general outline was approved”.

One of the resolutions in the plan prohibits the passage of vessels and equipment owned by the US, Israel, and other “hostile countries” through the Strait of Hormuz, the report added.

“This is because these countries have used the Strait of Hormuz to carry out hostile actions against our country, and have committed unjust and aggressive acts against the Iranian people,” Bayati said.

Lebanon’s Prime Minister Nawaf Salam met with US officials to discuss the military aspect of the ongoing negotiating framework and the developments in the country’s south, Al Jazeera reports, citing the National News Agency.

The agency reported that Salam met US Ambassador to Lebanon, Michael Issa, and the head of the Special Military Coordination Group for Lebanon, General Joseph Clearfield.

During the meeting, the report said, Salam pressed for “the need for Israel to stop the destruction operations, expand the scope of the experimental areas, and set a clear timetable for the Israeli withdrawal from Lebanese territory”.

Israel continues to occupy swaths of land in the country’s south and has not stopped attacks despite agreeing to a ceasefire.

White House deputy national security adviser Andy Baker is leaving the Trump administration in the coming weeks, Reuters reports, citing Axios.

The White House did not respond to a request for comment outside business hours. Reuters could not immediately verify the report.

The United Kingdom Maritime Trade Operations (UKMTO) has reported a drone strike on a tanker in the Strait of Hormuz a day earlier that caused minor damage but no casualties, according to AFP.

“UKMTO has received reports from Military Authorities that a tanker was struck by a Uncrewed Ariel Vehicle (UAV) whilst conducting an outbound transit of the Strait of Hormuz. The vessel was subject to minor damage, crew are reported as safe and accounted for and no environmental impact has been reported,” it said in a statement.

In a meeting with US Chargé d’Affaires Natalie Baker, Deputy Prime Minister and Foreign Minister Ishaq Dar has underscored that the implementation of the Islamabad Memorandum of Understanding “is the only way forward”, the Foreign Office (FO) says.

In a post on X, the FO says the discussions centered on Pakistan-US bilateral cooperation and recent regional developments.

“DPM/FM appreciated the positive trajectory in Pakistan-US relations and underscored the importance of dialogue and diplomacy for lasting peace,” the FO said.

He emphasised that “the implementation of the Islamabad MoU … in letter and spirit is the only way forward”, it said, adding the deputy PM reaffirmed Pakistan’s commitment to regional peace and security while safeguarding its national interests.

Baker appreciated Pakistan’s constructive role in promoting regional peace and stability and conveyed felicitations to the deputy PM on Pakistan’s Independence Day, the statement said.

At least four Asian refiners bought US crude this week, as the Strait of Hormuz remained effectively closed and refiners sought alternative supplies for delivery later this year, traders said, according to Reuters.

South Korea’s GS Caltex bought two million barrels of Mars crude from Shell for November arrival. The crude was priced at a premium around $13-14 per barrel above the October Dubai benchmark, traders said.

Japan’s third-largest oil refiner, Cosmo Energy Holdings, bought Mars crude from Trafigura, while Eneos Corp, Japan’s biggest refiner, purchased 2m barrels of West Texas Intermediate (WTI) crude from Trafigura for November delivery with a premium over $10 per barrel above the October WTI price.

Taiwan’s state-owned CPC Corp bought 2m barrels of WTI via a tender at a premium of around $8 to $9 a barrel to Dated Brent. CPC also purchased crude from West Africa via the tender, the people said.

China will lower domestic retail price caps on gasoline and diesel from August 15, the fifth cut this year, Reuters reports, citing the National Development and Reform Commission (NDRC).

Retail ceiling prices for gasoline and diesel will fall by 230 yuan ($34.11) and 220 yuan per metric ton, respectively, the NDRC said.

Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi has condemned the Iranian attack on the two tankers belonging to the United Arab Emirates’ (UAE) national oil company in the Strait of Hormuz.

In a post on X, he stressed that “repeated targeting of shipping facilities and property constitutes unacceptable escalation and a serious violation of international law”.

Israel continues to carry out strikes across southern Lebanon, Al Jazeera reports.

The US said that keeping oil and gas prices low for Americans is its top priority in the war, ahead of preventing Iran from obtaining a nuclear weapon, according to Anadolu.

“I know that oil is down today and it’s way down from the highs in the early days of the conflict,” Vice President JD Vance said on Fox News.

“That’s goal number one — keep oil and gas cheap for Americans all over our country,” Vance said.

“And then obviously goal number two is to ensure that Iran never gets a nuclear weapon,” he added.

Iranian Foreign Minister Abbas Araghchi held a phone call with his Greek counterpart Giorgos Gerapetritis, IRNA reports.

The two exchanged views on the latest regional and international developments.

Iranian Foreign Minister Abbas Araghchi held a phone call with his Austrian counterpart, Beate Meinl-Reisinger, IRNA reports.

The two exchanged views on the latest developments and issues of bilateral, regional and international significance.

According to NBC News, US military leaders are privately raising concerns inside the Pentagon and the White House about low morale and widespread fatigue among American service members who’ve been deployed for months to support the war with Iran, according to two US officials.

Amid the concerns, the Pentagon plans to replace one of two aircraft carriers deployed in the Middle East — the USS Abraham Lincoln — according to a third US official.

Shipping traffic at the Strait of Hormuz fell below the month average towards the end of the week due to volatile sentiment between the United States and Iran, with both countries making competing claims over its control, Reuters reports.

A total of nine vessels transited the strait on Thursday, up from five the previous day, according to Kpler data.

The nine vessels included five entries heading into the Gulf and four exits into the Gulf of Oman, mostly via the Iranian shipping route. Shipping risk persisted.

The US has received several warnings from Israel over the past year that Iran intended to assassinate President Donald Trump, including before a secret Air Force One ruse in Turkiye, that US intelligence officials could not independently verify, according to a current US official and two former officials, Reuters reports.

The warnings, passed to US intelligence agencies and in some cases relayed directly by Israeli officials to senior White House officials, included possible plots to shoot Trump with a sniper or recruit someone to attack him with a knife at a large public event, the sources said.

The tips began in the lead-up to the 12-day war in June 2025 and intensified prior to the US decision to go to war in Iran in February, the sources said.

Drones were intercepted over Erbil in northern Iraq early Friday, with wreckage falling on a residential complex near Erbil International Airport, according to Al Jazeera.

The Qatari-based broadcaster, citing Iraqi security sources, said no casualties were reported after the wreckage fell near the airport, which serves the regional capital.

Local media reports said the incident involved a drone attack targeting a US base near Erbil airport.

Oil prices inch higher after the US threatened to maintain a naval blockade of Iran indefinitely, reviving crude supply concerns, after prices fell in the previous session on a weaker global demand outlook, according to Reuters.

Brent futures rose 9 cents, or 0.1 per cent, to $87.16 a barrel, while US West Texas Intermediate (WTI) crude futures rose 4 cents to $81.29 a barrel.

The two benchmarks fell more than 2pc in the prior session, paring gains after a six-session rally for Brent and a five-session rise for WTI, but were on track for weekly rises of around 4pc.

US Treasury Secretary Scott Bessent threatened to subject Iran to economic isolation “like the world has never seen before,” adding that new measures are expected next week, AFP reports.

“It will be a combination of economic isolation, like the world has never seen before,” Bessent told conservative television network Newsmax, adding that “the continued blockade in the Strait of Hormuz … will keep anything from going in or out of the Iranian ports.”

“Watch this space for more announcements coming next week,” he said.

The United Arab Emirates has condemned Iran, saying it had attacked two vessels linked to state-owned Abu Dhabi National Oil Company (Adnoc) while they passed through the Strait of Hormuz, AFP reports.

“The United Arab Emirates has strongly condemned and denounced the hostile Iranian attack that targeted two vessels affiliated with Adnoc as they transited the Strait of Hormuz, with no injuries reported,” the foreign ministry said in a statement.