[US-Israel, Iran War Day #174] Hormuz Shipping Traffic Remains Flat as US-Iran Talks Stay Deadlocked

In Brief…

• US Vice President JD Vance said the war with Iran had “entered a new phase,” with Washington increasingly relying on economic pressure after destroying the Islamic Republic’s conventional military and nuclear facilities.
• US Treasury Secretary Scott Bessent said in an interview with CNBC that the United States would impose the “toughest sanctions in history” on Iran and said Washington was “going to collapse this regime.”
• US President Donald Trump said on Wednesday that he was launching what he called the “most crushing economic operation ever taken against any country” against Iran, threatening “tremendous economic consequences” for countries and entities that provide Tehran with financial or other support.
• NATO is prepared to address any threat and would take necessary action to defend all its members amid reports that Iran was considering attacks on US targets in Europe, Reuters reported on Wednesday, citing an alliance official.
• Iran has considered attacking military targets in Europe if US President Donald Trump escalates the war, the Financial Times reported on Wednesday, citing two insiders.

This is a developing story that HO1 will continue to monitor.
Check back for updates.

[UPDATE] Vance says Iran war has ‘entered a new phase’ focused on economic pressure