Iran to join BRICS development bank

Iran will join a development bank established by the BRICS group of nations, its central bank governor has said, in a move aimed at deepening economic ties during its war with the US.

The bank’s governor, Abdolnaser Hemmati, said that Tehran would soon join the New Development Bank, two years after it joined BRICS.

The bank was set ‌up by Brazil, Russia, India, China and South ‌Africa in 2015 to finance infrastructure and sustainable development projects. It has since expanded its membership to include the United Arab Emirates, Egypt and other emerging economies.

"The most ⁠important result of cooperation among BRICS member countries is the establishment of the New Development Bank, and our country will soon become a member of this bank," Hemmati said, according to state media.

Daniel Keane13 August 2026 11:20

Senior Iranian official claims Hormuz is 'under our control'

The Strait of Hormuz is “under Iran’s control and management”, a senior Iranian military official has said.

The head of Iran’s paramilitary unit, Hossein Taeb, claimed that Tehran retained its grip on the key waterway - a day after Donald Trump said it was under the “total control” of the US.

Taeb told the semi-official Fars news agency that the US had sought ‌to disrupt what ‌he described as the Islamic Republic's popularity in the region by launching ⁠another war in the Strait of Hormuz, but had once more been defeated despite claiming Iran had neither an air force nor a navy.

"Today you see ‌that the Strait of ​Hormuz is under the management ‌and control ⁠of the Islamic Republic," ⁠he said.

Daniel Keane13 August 2026 10:50

Hitmen, personal toilets and secret plane swaps: The foreign plots to kill Donald Trump

The world’s most powerful and polarising politician will inevitably attract threats from his opponents. Donald Trump has faced several credible assassination plots since returning to office, partly triggered by a more aggressive foreign policy approach in his second term.

Maira Butt13 August 2026 10:20

Gas prices hit their highest mark ever for mid August as Trump’s Iran war drags on

Patrick De Haan, the head of petroleum analysis at GasBuddy, reported in a post on X that gas prices have never gone above $4 per gallon after August 12 in any year.

On Wednesday morning, the average fuel price was just over $4 per gallon. The last time fuel cost nearly that much around mid-August was in 2022 when the national average gas price was $3.98 per gallon.

Gas prices have remained high for the majority of the year thanks to President Donald Trump’s ongoing war in Iran. Despite Trump's promises that fuel prices will "drop like a rock" once the war ends — and his frequent claims the the war has effectively ended and that Iran's military is destroyed while the U.S. controls the Strait of Hormuz — prices have continued to climb.

Maira Butt13 August 2026 09:50

Desperate US sailors trying to jump overboard on extended Middle East deployment, families say

Desperate sailors aboard the USS Abraham Lincoln have tried to jump overboard during an extended deployment in the Middle East, their families say.

The aircraft carrier, crewed by around 5,000 sailors and Marines, has been deployed since November 21 but more lately has been supporting U.S. military operations in the war with Iran. The deployment had been expected to end in May but has been extended with no current return date, families told The Military Times.

Annabelle Loma, the wife of a sailor serving on the Abraham Lincoln, told the publication her husband is now on medical hold after trying to jump from the carrier.

“He’s scared,” Loma said. “He thinks he’ll get a dishonorable discharge and, just because he was burnt out, his 13-year career is ruined, just like that.”

Maira Butt13 August 2026 09:50

British maritime company Ambrey engaged in salvage of stricken tanker off Omani coast

Ambrey, a British maritime company, has been engaged in the salvage of a stricken tanker Caroline Bezengi off the coast of Omani, it said on Thursday.

Salvage vessels are en route to support the operation.

The ship was carrying an estimated 800,000 barrels of Russian oil under international sanctions and ran aground on 30 June near an Omani marine nature reserve.

“This is an extremely challenging situation, compounded by adverse weather conditions associated with the Khareef monsoon” Ed Wollaston, director of global response at Ambrey, said.

The company said it is working with Omani stakeholders and has contracted a leading international oil spill response firm.

Maira Butt13 August 2026 09:20

Iran says Strait of Hormuz is under its control, says Fars news

The head of Iran’s paramilitary Basij unit, Hossein Taeb, has said that the Strait of Hormuz is “under Iran’s control and management” on Thursday, according to Iran’s Fars news agency.

It comes a day after President Donald Trump declared “total control” of the vital shipping route.

Maira Butt13 August 2026 08:50

Iran says it could prolong war until Trump leaves office

A senior adviser to the commander of Iran’s Revolutionary Guards said Tehran could deliberately prolong the war until US President Donald Trump leaves office, in an effort to wear down its adversaries and deter future attacks.

Mohammad Reza Naghdi told PBS NewsHour that extending the conflict could impose a cost on any future US administration considering military action against Iran.

"We have to attain deterrence so that the enemy never dares to attack us, so we can live with security," he said.

Naghdi also defended Iranian attacks on civilian vessels attempting to cross the Strait of Hormuz, saying Tehran needed to control shipping routes during wartime.

He said vessels passing through areas controlled by Iran could be viewed as a threat if they were suspected of carrying supplies for the enemy.

"When we are at war, vessels need to pass through a region we can control," he said. "When they leave an area that we control, it could be that they're transporting supplies for the enemy."

Asked whether attacking civilian ships violated international law, Naghdi said Iran had the right to control routes it considered threatening during a war.

Shweta Sharma13 August 2026 08:21

US forces confirm continued blockade in Hormuz

US Central Command said its forces have redirected 59 commercial vessels, disabled three and boarded two as part of enforcement of its “steel wall blockade” against Iran.

The latest update comes as shipping traffic remains low through the Strait of Hormuz, with both sides continuing to make contradictory claims over control of the waterway.

Centcom said the figures were as of Wednesday as an F/A-18 fighter jet launched from the USS George HW Bush in regional waters.

Shweta Sharma13 August 2026 08:00

UK economy grew by 0.4% in second quarter as Iran war prompts slowdown

Economic growth in the UK slowed between April and June, as the fallout from Donald Trump’s war on Iran put strain on global finances.

The UK economy grew by 0.4 per cent in the second quarter of the year, according to the Office for National Statistics, down from 0.6 per cent in the first quarter.

Its data showed growth of 0.3 per cent month-on-month in June, against expectations for a flat performance, as the ONS said firms across the service sector reported buoyant trade thanks to extreme hot weather and the start of the World Cup football tournament.

Shweta Sharma13 August 2026 07:35