Medication prices are surging in Iran and some treatments have become difficult to find as a US blockade and intensified sanctions squeeze the country's pharmaceutical industry. Iranians are stocking up on food and medicines amid fears of dire shortages, with families struggling to afford essential medications.
U.S. Treasury Secretary Scott Bessent informed Russian Finance Minister Anton Siluanov at the G20 Finance Ministers Meeting in Asheville, North Carolina on August 31, 2026, that no economic relief or sanctions easing would be possible until Russia ends its war in Ukraine. The message crystallizes the Trump administration's strategy of maintaining economic pressure on Moscow.
Treasury Secretary Scott Bessent announced the Trump administration will impose sanctions on another bank this week as part of an intensified campaign to economically isolate Iran. The move follows recent sanctions on Egyptian bank branches and comes six months into an ongoing conflict with Iran amid stalled truce negotiations.
The US Treasury imposed sanctions on Banque Misr's UAE branches, cutting the major Egyptian bank from the global financial system as part of escalating economic pressure on Iran six months into the conflict. Iran condemned the move as 'state terrorism.'
The European Union intends to significantly expand sanctions against Russia in the coming months over its war in Ukraine, according to the bloc's foreign policy chief Kaja Kallas. The announcement comes amid ongoing Russian military operations in Ukraine.
Treasury Secretary Scott Bessent announced the U.S. will roll out what he called unprecedented economic measures against Iran next week, intensifying the Trump administration's effort to force Tehran's capitulation as military operations continue.
Ukrainian drones have systematically targeted warehouses belonging to Wildberries, Russia's largest online retailer, over recent weeks, destroying seven of its ten biggest logistics hubs and burning billions of dollars in merchandise. Analysts say the campaign aims to disrupt Russia's economy and bring the war's impact home to Russian civilians.
President Donald Trump told Axios the US is "only semi-negotiating" with Iran and instead watching economic pressure take effect through inflation and financial strain, as the conflict approaches six months. The shift comes as Iran issued new demands for reopening the Strait of Hormuz while Trump countered by demanding Iran pay compensation for casualties.
Ukraine has conducted a week-long campaign of drone attacks targeting warehouses of Wildberries, Russia's largest online retailer, destroying billions of dollars worth of inventory and bringing the war's economic impact directly to Russian small business owners and consumers.
Ukrainian long-range drone strikes hit Wildberries warehouses in Krasnodar, Nevinnomyssk, Elektrostal, and Kotovsk between July 18–22, 2026, killing eight workers and injuring dozens. The coordinated campaign disrupted Russia's largest e-commerce retailer and raised concerns about supply chain stability and consumer inflation.
The United States Department of the Treasury has sanctioned Cuba's Ministry of Tourism and other state-owned companies, expanding existing sanctions to target a key sector of Cuba's economy amid growing tensions between the two countries.
