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Real-time News
The U.S. National Hurricane Center: Karinas intensity is approaching hurricane level and she continues to move toward more favorable conditions.On August 30, following US sanctions against Banque Misrs UAE branch, the Central Bank of the United Arab Emirates (CBA) stated that it expects banks licensed to operate in the UAE to "not expose the UAE financial system to reputational risk" or "abuse the UAEs advanced financial infrastructure." In a statement, the CBA indicated it would conduct an urgent inspection of Banque Misrs local branches in the UAE, emphasizing that these branches are subject to UAE laws and regulations. The CBA added that it is "studying contingency plans for potential special measures against the bank." The US Treasury Department stated that the sanctions against Banque Misrs UAE branch are part of a broader US effort to escalate economic actions against Iran and its international financial partners, and that this move will cut off the branchs access to dollar transactions.On August 30, Iranian Deputy Foreign Minister Gharibabadi stated that no vessel can pass through the Strait of Hormuz without Iranian coordination. Gharibabadi said, "The Strait of Hormuz is completely closed. If any vessel passes through the strait, it is certainly after coordination with Iran and obtaining permission." He stated that the Iranian armed forces have full control over all activities in the Strait of Hormuz, and the US claims regarding vessels passing through the strait are completely untrue. He indicated that Iran has reached an agreement with Oman on arrangements for passage through the Strait of Hormuz, but the strait will not be open until the US fulfills its commitments. He stated that Iran will continue its defensive actions and is prepared for any scenario.On August 30th, Democratic Senator Elizabeth Warren made sharp comments regarding President Trump and the war with Iran. She implied that oil companies closely associated with the president have profited from the war. "Hes the most corrupt president in American history, thats a fact," Warren said. "So the question becomes: what do we do? When Trump goes to war with Iran, and those oil industry allies who donated $1 million to his campaign start making huge profits, our responsibility is to expose that and fight back. Thats what we need to do." Undoubtedly, oil companies have profited immensely from the war. ExxonMobils second-quarter profit reached over $14 billion, double that of the same period last year. Chevrons second-quarter profit quadrupled compared to the same period in 2025, currently reaching $12.1 billion. Meanwhile, according to Trumps financial disclosures for the second quarter ending in 2026, he continued to buy and sell shares of oil and gas companies during the Iran war. Democrats, citing data from the Joint Economic Committee, stated that Trumps related holdings expanded from the $13 million to $46 million range at the beginning of the year to the $17 million to $61 million range in mid-August. The White House stated that Trump was not involved in these transactions. Warren said, "Want to lower gasoline prices? Then end the war with Iran. Just end this war."On August 30th, Iranian Deputy Foreign Minister Gharibabadi stated on August 29th that Iran and Oman had reached an understanding on passage arrangements in the Strait of Hormuz, but this understanding would not automatically enter the implementation phase. Gharibabadi indicated that unless the United States fulfills its obligations, the understanding between Iran and Oman regarding the Strait of Hormuz will not enter the implementation phase, and Iran is in no hurry to reopen the Strait of Hormuz.
