TEHRAN — Iran’s Islamic Revolutionary Guard Corps said Wednesday that it launched a missile attack against a U.S.-linked military base in Jordan, escalating tensions after American forces destroyed five Iranian oil tankers. The latest exchange marks another sharp escalation in the six-month-old U.S.-Iran war, with the conflict increasingly threatening regional security and global energy supplies.

Iran said its missile strike targeted the Al-Azraq air base in Jordan, which hosts U.S. military assets. Iranian state media reported that the operation damaged maintenance and repair facilities, aircraft deployment areas and shelters. Those damage claims could not immediately be independently verified. Jordan’s military said it intercepted 18 ballistic missiles launched from Iran toward the kingdom. No casualties were immediately reported.

The Iranian attack came after U.S. forces destroyed five Iranian oil tankers on Tuesday. The U.S. military said the crews were ordered to abandon the vessels before they were struck. The operation followed an Iranian attack targeting a U.S. Navy warship. Iranian officials had previously warned that American military bases in the region would be targeted if Washington attacked Iranian oil tankers.

Iran has also threatened to target oil tankers operating near U.S.-allied Kuwait and Bahrain. The threats have heightened fears of further disruption to commercial shipping across the Persian Gulf and the Strait of Hormuz.

The strategic waterway has become a major flashpoint in the conflict. Shipping through the Strait of Hormuz has fallen sharply, raising concerns about global oil and gas supplies. Reuters reported Wednesday that only six commodity vessels transited the strait on Tuesday, well below the recent average.

The escalation has also pushed oil prices higher. Brent crude approached $100 a barrel on Wednesday, while U.S. West Texas Intermediate crude traded above $94 a barrel as markets assessed the risk of further supply disruptions.

U.S. Secretary of State Marco Rubio has warned that Washington will continue responding to Iranian attacks. The latest U.S. strikes on Iranian tankers were described by American officials as retaliation for attacks on U.S. naval forces.

Iranian state media also claimed that the Revolutionary Guard had attacked two U.S. destroyers with ballistic missiles. The claim had not been independently confirmed by the U.S. military and should be treated as an Iranian claim.

The latest confrontation comes as both sides remain locked in a wider struggle over control of the Strait of Hormuz, a vital route for global energy shipments. With Iran threatening further attacks on shipping and U.S. forces continuing operations against Iranian assets, concerns are growing that the conflict could expand further across the Middle East and place additional pressure on global energy markets.

Shibbir Ahmed, WASHINGTON DC — The United States is preparing to intensify economic pressure on Iran with a new campaign of weekly secondary sanctions, Treasury Secretary Scott Bessent said Monday, as military tensions between Washington and Tehran sharply escalated.

Bessent told Reuters that the U.S. Treasury Department is expected to announce new secondary sanctions every week, beginning with measures targeting banks and financial institutions that help Iran maintain access to international markets.

The planned measures are designed to further restrict Iran’s access to the global financial system and increase pressure on institutions and countries that continue doing business with Tehran. The announcement comes as the United States and Iran have entered their most serious period of renewed hostilities in weeks.

U.S. forces struck two Iranian launchers on Larak Island on Sunday after American forces identified what U.S. officials said were preparations by Iran’s Islamic Revolutionary Guard Corps to launch rockets carrying sea mines into the Strait of Hormuz.

Iran responded by launching missiles toward U.S. military bases in Jordan, according to U.S. and Iranian officials. The attacks marked the first direct exchange of fire between the two sides in about a month. President Donald Trump on Monday warned that the United States would respond forcefully to Iran’s attacks. The latest escalation has raised concerns about a wider regional conflict, particularly because of the strategic importance of the Strait of Hormuz, a critical route for global oil shipments.

Financial Pressure on Iran

The planned sanctions would expand the use of so-called secondary sanctions, which can penalize foreign companies, banks and other institutions that conduct certain business with Iran even when those entities are not based in the United States.

Bessent said the campaign would initially focus on banks and could increasingly target institutions that help Iran move money through the international financial system. The Treasury secretary’s announcement represents a further expansion of the administration’s economic campaign against Tehran.

The United States has already broadened the range of Iranian economic activities that could expose foreign businesses to secondary sanctions, including sectors such as digital assets, gold, technology, aviation and shipping.

Last week, the Treasury Department launched what it described as an unprecedented campaign against Iranian financial networks, targeting channels used by Tehran to generate revenue, evade sanctions and finance activities opposed by Washington.

Military Tensions Add to Economic Pressure

The new sanctions strategy comes as diplomatic and military tensions continue to worsen. The U.S. military said its strike on Larak Island was aimed at preventing Iran from deploying sea mines in the Strait of Hormuz. Iran has rejected the U.S. justification and warned that it would respond to further attacks.

Following the Iranian missile launches toward U.S. forces in Jordan, Trump said the United States would respond strongly. Reuters reported that the exchange of attacks represents a renewed escalation after a period in which the two sides had avoided direct military confrontation.

The conflict has also affected global energy markets. Brent crude oil futures settled more than 2.5% higher on Monday after the latest U.S.-Iran military exchanges, reflecting renewed concerns over the security of oil shipments through the Strait of Hormuz.

Pressure on Iran’s Financial Lifelines

The Trump administration has increasingly focused on Iran’s financial networks as part of its broader strategy to weaken Tehran’s ability to fund its government, military and regional activities.

The planned weekly sanctions would represent a significant escalation because foreign financial institutions could face increasing pressure to choose between maintaining business relationships with Iran and retaining access to the U.S.-dominated international financial system.

For Iran, the measures could further complicate access to foreign currency, international banking services and overseas trade. For the United States and its allies, however, the strategy carries its own risks, particularly if increased economic pressure contributes to further military escalation or disruption of global energy supplies.

With the United States preparing additional sanctions and military tensions rising, the coming days could determine whether the latest confrontation remains limited or develops into a broader regional crisis.

Shibbir Ahmed, WASHINGTON DC — President Donald Trump on Monday announced new agreements with nine pharmaceutical manufacturers aimed at lowering prescription drug prices for Americans, expanding his administration’s effort to tie U.S. drug prices to the lower prices paid in other developed countries.

The White House said the agreements bring the total number of pharmaceutical manufacturers participating in the administration’s Most-Favored-Nation (MFN) drug-pricing program to 26, covering about 89% of the branded-drug market.

The nine companies joining the latest agreements are Alcon, Astellas Pharma, BeOne Medicines, BridgeBio, CSL, Kyowa Kirin, Sun Pharma, Teva Pharmaceuticals and UCB.

Under the agreements, the companies will provide MFN pricing to state Medicaid programs across the United States on eligible medicines. The White House said the deals cover drugs used to treat a range of serious and chronic conditions, including hemophilia, Parkinson’s disease, macular degeneration, glaucoma, liver disease, skin conditions and cancer.

The administration’s MFN strategy seeks to align prices paid in the United States with the lowest prices paid by comparable developed nations.

$19.6 Billion U.S. Manufacturing Investment

The new agreements also include commitments to strengthen pharmaceutical manufacturing in the United States. According to the White House, the nine companies have collectively committed to invest at least $19.6 billion in U.S. manufacturing in the near term.

Several companies have additionally agreed to provide active pharmaceutical ingredients to the federal government’s Strategic Active Pharmaceutical Ingredients Reserve, which is intended to strengthen domestic pharmaceutical supply chains and reduce dependence on foreign sources.

UCB, for example, will contribute 163 tons of levetiracetam, a drug used to control and prevent seizures. Sun Pharma will contribute supplies of the antibiotics clindamycin and doxycycline, while Teva will provide metronidazole and amlodipine. Astellas will contribute tacrolimus, an immunosuppressant used to help prevent organ rejection following transplants.

Administration Projects Major Savings

The White House says patients have already saved more than $700 million through TrumpRx, the administration’s prescription-drug discount platform, since its launch in February.

The administration also says more than 500,000 seniors have saved a combined $216 million since July through a program offering certain GLP-1 obesity medicines for $50 a month to seniors without coverage for those drugs.

The White House’s Council of Economic Advisers estimates that the administration’s broader MFN agreements could generate approximately $600 billion in savings over the next decade. That figure is an administration estimate rather than an independently verified projection.

Part of Trump’s Broader Drug-Pricing Push

Trump ordered his administration in May 2025 to pursue Most-Favored-Nation pricing for prescription medicines, seeking to bring U.S. prices closer to those paid in other developed countries.

The administration subsequently reached agreements with major pharmaceutical manufacturers, including Pfizer, AstraZeneca, Eli Lilly, Novo Nordisk, Amgen, Bristol Myers Squibb, Merck, Novartis, Sanofi and others.

Trump launched TrumpRx.gov in February 2026 as part of the administration’s effort to make lower-priced medicines available directly to American consumers through participating manufacturers and pharmacies.

Reuters reported Monday that the latest agreements include a mix of international pharmaceutical companies and smaller biotechnology firms, expanding the program beyond the large drugmakers that participated in earlier rounds.

The new agreements come as prescription-drug affordability remains a major issue for American consumers and as the Trump administration prepares for the November midterm elections.

The White House is also calling on Congress to advance what it describes as the “Great Healthcare Plan,” which the administration says would seek to lower drug prices and insurance premiums while increasing price transparency.

For Americans, the practical impact of Monday’s agreements will depend on which medicines receive the new pricing arrangements, when the lower prices take effect and how the discounts are implemented through Medicaid and participating drug programs. The White House announcement marks the latest and one of the largest expansions of Trump’s MFN drug-pricing initiative since it began in 2025.