Trump insists U.S. achieving “very big victory” in war with Iran

China, Iran’s largest trade partner, is receiving thanks from Iran’s Parliament speaker after saying it won’t comply with the newest U.S. sanctions.

“We welcome China’s principled statement rejecting illegal sanctions against Iran,” Mohammad Bagher Ghalibaf wrote on X. “The Iran-China comprehensive strategic partnership is rooted in mutual respect, win-win cooperation, and a shared vision for a multipolar world. This relationship needs no one’s permission.”

President Trump last week said he expected all countries to get on board with the sanctions announced on Monday. Treasury Secretary Scott Bessent said in an interview last Thursday with CNBC that China should “get with the program.”

But China rejected those notions almost immediately.

“China has already stated many times that it firmly opposes illegal unilateral sanctions. … China will take all necessary measures to firmly safeguard its own rights and interests,” foreign ministry spokesman Lin Jian said at a news briefing.

Abbas Araghchi, Iran’s foreign minister, addressed a letter to U.N. Secretary General Antonio Guterres on Wednesday asking for the global body to “condemn and reject” the U.S. actions in Iran, especially the new round of sanctions issued this week.

“Now is a crucial moment for the Security Council and all members of the United Nations; either we must defend the principles of sovereign equality, non-interference, and respect for the sovereign rights of States, as enshrined in the Charter of the United Nations; or we surrender to the unilateralism and bullying of a rogue state,” Araghchi wrote in the letter, posted on his official Telegram channel.

Iranian officials have repeatedly called the U.S. actions in Iran a violation of the country’s sovereignty in recent days. Araghchi asked for all members of the U.N. to do three things, including “condemn and reject the use of unilateral coercive measures and secondary sanctions by the United States” to change economic interests; “refrain from recognizing, approving, or implementing” the sanctions; “call on the United States to immediately cease its threats and coercive actions designed to force” countries to alter legitimate economic relations.

He also asked for the U.N. to monitor the humanitarian implications of the sanctions on the Iranian population, and said Iran could retaliate in the interim.

“In the meantime, the Islamic Republic of Iran reserves its right to pursue all available avenues to achieve accountability, reparation and redress, and to hold the perpetrators accountable for the consequences of these inhumane and illegal actions,” Araghchi wrote.

Guterres hasn’t shown an inclination to side with Iran in the conflict, saying on Monday that Iran must end attacks in the Strait of Hormuz and restore “respect of navigational rights and freedoms” in the waterway.

Iran and Russia held “constructive” discussions on advancing cooperation in the gas sector, including implementation of an agreement to transfer Russian natural gas to Iran, Iranian state news agency IRNA reported Wednesday.

IRNA said Iranian Ambassador to Russia Kazem Jalali and National Iranian Gas Company CEO Saeed Tavakoli met with Alexey Miller, the CEO of Russia’s state-controlled energy giant Gazprom, in St. Petersburg on Wednesday. 

The meeting followed a series of technical discussions between the two countries aimed at implementing a gas cooperation agreement, following on an agreement for the transfer of Russian gas to Iran that was signed in July 2024. 

Iranian Oil Minister Mohsen Paknejad previously said the gas would be delivered to Iran using an overland route via Azerbaijan, with Iran receiving the gas at a terminal in Astara, on the country’s far northern Caspian Sea coast.

Jalali has described the project as a “win-win” undertaking for Iran and Russia that could provide significant mutual benefits and help strengthen Iran’s position as a regional energy hub.

The spokesman for Iran’s powerful Islamic Revolutionary Guard Corps said Wednesday that Iranian and Omani officials reached an agreement weeks ago on terms under which the two nations could control shipping traffic through the Strait of Hormuz — and share the proceeds from fees incurred — but he indicated the U.S. had failed to accept the arrangements.

“The Strait of Hormuz belongs to Iran and the Sultanate of Oman, which is opposite us. About a month ago, we entered into negotiations with Oman and reached results that were acceptable to both sides,” Brig. Gen. Hossein Mohebbi said, according to Iran’s state broadcaster IRIB. “In these negotiations, agreements had been reached regarding the share of each of the two countries from the waters of the strait and the share of Iran and Oman from its revenues.”

“If the United States stops obstructing and returns to the memorandum of understanding, we can open the Strait of Hormuz within the framework of the agreement reached,” he said, stressing, “our conditions must be accepted by the United States.”

Until they are, he said “the Strait of Hormuz will remain closed.”

President Trump has repeatedly insisted the strait is open, but few commercial ships have dared to transit the vital waterway given Iran’s attacks and lingering threats against them doing so without permission. 

“The Strait of Hormuz is under our control, and no enemy military vessel is present inside the Persian Gulf,” Mohebbi insisted Wednesday, claiming all U.S. warships had moved at least 250 miles from the strait.

Iran and Oman said Tuesday the two nations continue discussing a new proposal to reopen the strait by way of a temporary shipping route, as well as a plan to clear sea mines, but they said no new agreement has been reached.

Lower oil prices helped lift European stock markets Wednesday, while continued high U.S. inflation weighed on Wall Street. Paris and Frankfurt rose in mid-afternoon trading, though London lagged behind as energy heavyweights BP and Shell were hurt by cheaper oil.

“Lower energy prices are providing a supportive environment for European markets,” said Fawad Razaqzada, market analyst at FOREX.com. “The resilience of the European economy has been more impressive than many had expected.”

In New York, all the main indexes were slightly lower in morning trading. Just before Wall Street opened, the Commerce Department reported that the personal consumption expenditures price index — the Federal Reserve’s preferred inflation measure — rose 3.7% in July compared to the previous year.

While that was largely in line with analyst expectations, it still leaves inflation well above the Fed’s 2% target, keeping alive fears of an interest rate increase.

Both main crude oil contracts have tumbled this week as Iran and Oman say they’re edging toward a deal to open a temporary shipping corridor in the Strait of Hormuz.

While President Trump said Washington would impose an “economic D-Day” on Tehran with a raft of sanctions targeting the Islamic Republic and its trade partners, the U.S. has so far held back from enforcing the measures, which in any case appear softer than many had expected.

Oil prices had dropped more than 3% early Wednesday before recovering a bit, with international benchmark Brent crude back below $90 a barrel.

CBS/AFP

President Trump repeated his claim Wednesday that without him, “there would be no Israel.”

Speaking on conservative commentator Glenn Beck’s podcast, Mr. Trump described the Obama-era Iran nuclear deal, which he pulled the U.S. out of unilaterally during his first term, as “one of the most dangerous deals ever,” describing it as a “path to a nuclear weapon.”

Iran “would have had a nuclear weapon,” he said. “They would have used it.”

“Israel would have been totally knocked out,” he added. “If Donald Trump wasn’t president, there would be no Israel right now … and that’s a guarantee.”

In June the president made similar comments at the G7 summit in France.

Iran’s senior armed forces spokesman, Brig. Gen. Abolfazl Shekarchi, said Iranian military forces do not regard outlets such as BBC Persian, the exiled Iran International and Radio Farda as media organizations, accusing them of being directly connected to Israeli and U.S. intelligence agencies.

In comments carried by multiple state media outlets, Shekarchi alleged that the outlets receive operational guidance and support from, “Mossad [Israeli intelligence agency], the CIA and the enemy’s intelligence organizations … The Iranian armed forces do not regard these news-propagating enterprises as media outlets.”

“Every bloodshed and act of violence in the world is carried out with the support of these pseudo-media outlets,” he said. “Hostile media outlets are soldiers of the Zionists and America and are included in our military target bank.”

President Trump, in an interview with conservative radio host Glenn Beck aired Wednesday, said the Strait of Hormuz is “functioning,” but there will still be a drone or a rocket shot sometimes.

“We got rid of the mines,” the president said. “But the strait it’s functioning, it’s a functioning strait. Yes, every once in a while there will be a drone or a rocket or something shot, but it is a very functioning strait. A lot of oil is pouring out.”

Maritime analysts say very little oil has actually been moving out of the Persian Gulf through the strait since the war began, with a brief resumption of shipments during a ceasefire between the U.S. and Iran tapering back off after hostilities resumed in early July.

Speaking to conservative radio show host Glenn Beck, President Trump said he doesn’t “think” the ayatollah is dead, and if he is, he said the Iranians are putting on a pretty good “show.” 

The Atlantic ran a piece Monday suggesting he may have died. 

“I don’t think he’s dead,” the president said. “He was very seriously wounded.” 

Dubai International Airport, one of the world’s busiest transport hubs, said Wednesday that it saw a sharp drop in passengers during the second quarter as the Iran war disrupted air travel and prompted many travelers to choose routes that avoided the Middle East.

The airport recorded 13 million passengers during the second quarter, following 31.5 million passengers in the first. That was a 31.3% drop in passenger traffic compared to the first half of 2025, the airport said.

Air traffic in the United Arab Emirates and elsewhere across the Persian Gulf region has been disrupted by shutdowns and restrictions imposed after the U.S. and Israel launched their joint war on Iran on Feb. 28. The Dubai airport suffered minor damage in attacks by Iran.

Dubai airport CEO Paul Griffiths said, however, that there has been a steady increase in passenger volume each month in the second quarter, adding that “the trajectory now is universally positive.”

He said the airport was waiting for overseas airlines, particularly European carriers, to restart operations. 

“I’m very confident we’ll be back to full operation in a very short space of time,” he said.

Last week, the UAE cut off all trade ties with Iran, which has relied for decades on the kingdom for access to foreign currency. Dubai’s opaque financial services industry has long offered Iran a way to skirt international sanctions.

CBS/AP

Iranian Parliament Speaker Mohammad Bagher Ghalibaf argued Wednesday that any negotiations with the U.S. did not equate to retreat from the Islamic Republic’s principles and demands.

“Negotiation, in my view, has neither intrinsic value nor is it a taboo; it is neither absolutely good nor absolutely evil,” he wrote in a letter responding to criticism from Hossein Shariatmadari, the editor-in-chief of Iran’s hardline Kayhan newspaper, according to Iran’s state IRNA news agency.

Qalibaf said diplomacy did not mean abandoning resistance. 

“If necessary, dialogue, too, according to this logic, is the same arena of struggle and resistance; neither a replacement for it nor a sign of retreat from it,” he said.

He argued that negotiations, when necessary, should be conducted from a position of strength while preserving Iran’s “dignity, wisdom and interests.”

Qalibaf said refusing to engage with an enemy would amount to Iranian authorities avoiding their responsibility.

Just less than a week ago, President Trump said there were no ongoing talks between the U.S. and Iran and none scheduled, but Iran has kept up a dialogue with Oman aimed at establishing a proposal to reopen the Strait of Hormuz and to reinstitute a ceasefire with the U.S.

Iran’s army said Wednesday that all of the country’s weapons systems damaged in the war with the U.S. and Israel had been “rebuilt,” and a claim that new systems had been brought into the country.

“Systems in all branches of the military, including those that were damaged, have been rebuilt, and new systems have also been imported,” army spokesperson Mohammad Akraminia was quoted as saying by Iranian state TV.

“New systems have come through the defense industry and the army, and some have also been imported from abroad, and this equipment has enhanced our combat capabilities,” he claimed, without naming any countries providing military hardware to the Islamic Republic.

President Trump has previously claimed that Iran’s military capabilities have been destroyed by U.S. strikes on the country, but experts have questioned that assessment, and Iran has demonstrated an ongoing capacity to launch attacks on ships and America’s Persian Gulf allies.

CBS/AFP

Iran’s president has not ruled out resolving the conflict with the United States through negotiations, despite the “economic pressure” being exerted on his country.

“Our foundation is understanding and resolving issues through interaction and negotiation, but at the same time, we will stand firmly against economic pressures, just as we have done so far,” Masoud Pezeshkian said during a three-hour meeting at Iran’s Central Bank on Tuesday.

Pezeshkian said Iran would continue pursuing dialogue while relying on measures prepared by the government’s economic institutions to withstand the U.S. sanctions, adding that Washington’s attempts at pressuring Iran would fail.

Iran called Tuesday on the United Nations Security Council to condemn U.S. sanctions and other “unilateral coercive measures” against the Islamic Republic.

Speaking at a Security Council meeting, Gholamhossein Darzi, Iran’s ambassador and deputy permanent representative to the U.N., said the council had failed to fulfill its responsibilities.

“The Security Council must firmly condemn and reject these unilateral coercive measures aimed at forcing sovereign countries to change their legitimate economic interests and foreign relations,” Darzi said.

He called the ongoing U.S. naval blockade of Iran’s ports and vessels, which has included several attacks on Iranian commercial vessels, violations of Iran’s sovereignty and freedom of navigation.

“The root cause of instability and disruption in maritime trade and shipping through the Strait of Hormuz is the war of aggression by the U.S. and Israeli regime against Iran,” Darzi said.

Israeli Prime Minister Benjamin Netanyahu has said a diplomatic deal is not possible with the “savages” who rule Iran, as he hailed President Trump’s new campaign of economic pressure against the Islamic Republic.

Recounting a recent meeting with Mr. Trump, Netanyahu said at an event late Tuesday that they had discussed the possibility of diplomacy with Iran and said: “I doubt, however, that an agreement can be reached with that group there, with those savages. I tell you, an agreement cannot be reached.”

Iran accused Israel of getting in the way of a previous ceasefire initiative by continuing operations in Lebanon, against Hezbollah, which it considered a violation of the terms of the agreement reached with Washington.

Israel insisted it was only responding to violations of the truce by Hezbollah, which is a powerful paramilitary and political force backed by Iran in Lebanon.

CBS/AFP

Iran’s deputy foreign minister insisted Wednesday that the Strait of Hormuz would not reopen until the U.S. lifts its naval blockade of Iranian ports and vessels, and the “termination of the war.”

Kazem Gharibabadi told Iranian state broadcaster IRIB “the blockade is not the only quid pro quo for the Strait of Hormuz.”

“Another issue is the termination of the war,” he said. “The termination of the war in a permanent and sustainable manner on all fronts, including Lebanon.”

Iran and Oman, the two countries with coastline in the waterway, said in a joint statement Tuesday that they were discussing a proposal for a temporary route that would allow ships to transit through the Strait of Hormuz, as well as a plan to remove sea mines.

President Trump has said repeatedly that all mines have been removed from the strait.

Long lines formed at gas stations in Tehran Tuesday after the United States announced fresh sanctions aimed at pressuring Iran into submission.

Washington has turned to pulling economic levers six months into a war on Iran that has ground to a stalemate militarily, with peace talks stalled and most traffic through the crucial Strait of Hormuz blocked.

Treasury Secretary Scott Bessent on Monday laid out plans for the “economic asphyxiation” of Iran, saying the “objective is to sever every economic lifeline that sustains this tyrannical regime.”

Though Iran’s leaders have shrugged off the tough talk, having already endured sanctions for decades, some residents of the capital feared that they would feel the pinch.

“Naturally, sanctions affect people’s lives,” realtor Mehdi Yazdian, 55, who urged the authorities to control prices, told the AFP news agency. “People are being hurt, both those who are financially well-off and those who are financially weak.”

“Yes, these sanctions are having an effect,” he said. “But naturally, our people are resilient. These sanctions have been in place for 47 years.”

“I personally am not afraid of war at all because this is our land,” English teacher Kia Farahani, 45, said. “But I think that this war will be more economic and will cause people to feel a lot of pressure, and now maybe there will be protests again.”

Iran’s national police chief said Monday that the U.S. was “seeking to create unrest in a part of the country or throughout the country,” by imposing the additional economic pain.

CBS/AFP

Oman’s foreign minister said Tuesday he was “hopeful” a temporary route through the Strait of Hormuz would be announced “soon,” after meeting with Iran.

In a joint statement, Iran and Oman said they had discussed a proposal for a temporary reopening of the Strait of Hormuz which includes a specific route and a plan to clear mines.

The two countries have held regular meetings on the future management of the Strait of Hormuz as laid out in the memorandum of understanding signed in June.

“I am hopeful we will soon announce a temporary corridor for the Strait of Hormuz and practical arrangements to restore safe navigation,” Oman’s Foreign Minister Bdr Albusaidi said in a social media post. “Future management of the Strait and a permanent solution will follow in due course,” he added.

However, Iranian Deputy Foreign Minister Kazem Gharibabadi warned on Wednesday the United States would have to lift its blockade on the narrow waterway.

“Before any action is taken to reopen the Strait of Hormuz, the United States must fully implement all of the commitments it has violated,” he said.

President Trump said Tuesday that the U.S. was implementing a “Zero Tolerance” policy on any Iranian ships placing mines in the Strait of Hormuz, saying they would be “immediately and systematically destroyed.”

In a post on his Truth Social platform, Mr. Trump reiterated his claim that all mines have been removed or destroyed from the vital waterway, adding, “Iran has been notified that any ship or boat placing new mines will be immediately and systematically destroyed.” 

He said the U.S. Space Force was “watching every square inch of the Strait” and that there is “a Zero Tolerance policy on mine placement in full force and effect.”

Quoting anonymous Iranian sources, the Financial Times reported last week that Iran would fire missiles at U.S. targets in Europe if Mr. Trump stepped up military pressure over the Strait of Hormuz.

China’s government on Tuesday dismissed any looming efforts by the U.S. to impose punishment for doing business with Iran as likely illegal, and warned Washington against taking such measures.

U.S. Treasury Secretary Bessent, in announcing new sanctions targeting Iran on Monday, said President Trump was making phone calls to world leaders warning them to cease interactions with the Iranian regime. He declined to name any of those leaders when asked by CBS News, and he didn’t get into a timeline or other specifics.

Asked whether Chinese banks that finance Iranian oil imports would be among those hit with the punishing financial measures, Bessent said, “no one is above the reach of U.S. sanctions.” 

Speaking to reporters in Beijing, Foreign Ministry spokesperson Lin Jian said Tuesday that China has “repeatedly stated its firm opposition to illegal unilateral sanctions without the basis of international law and without authorization from the UN Security Council,” according to China’s state-run Xinhua news agency.

“Economic warfare and extreme pressure do not help solve problems; they only further intensify conflicts, cause risks to spill over, disrupt the global economic and financial order, and harm the legitimate rights and interests of other countries,” Lin said, adding that China’s cooperation with Iran has “always been conducted within the framework of international law and should not be disrupted or undermined.”

China “will take all necessary measures to firmly safeguard its own rights and interests,” he added.