The vice president spoke to reporters before he flew to Michigan on Monday about the AI video that President Donald Trump posted on social media over the weekend that featured a stylized imaginary attack on Iran's Kharg Island, which is key to its oil exports and Trump has repeatedly threatened.

Washington says it acted after observing Iran was planning to deploy fresh mines in strait of Hormuz

The US and Iran have exchanged fire for the first time in a month, with missiles and drones fired at Iranian rocket launchers on an island in the strait of Hormuz, and Iran targeting US military bases in Jordan and the United Arab Emirates in response.

The US president, Donald Trump, on Monday threatened further action. The US is to trying to prise open Tehran’s grip on shipping going through the strait, which before the war accounted for a fifth of the world’s seaborne energy supply. Washington claimed that Iranian control over the waterway had been loosened by repeated US attacks on Iranian missile launchers and radars.

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© Photograph: Majid Asgaripour/Reuters

© Photograph: Majid Asgaripour/Reuters

© Photograph: Majid Asgaripour/Reuters

Washington says it acted after observing Iran was planning to deploy fresh mines in strait of Hormuz

The US and Iran have exchanged fire for the first time in a month, with missiles and drones fired at Iranian rocket launchers on an island in the strait of Hormuz, and Iran targeting US military bases in Jordan and the United Arab Emirates in response.

The US president, Donald Trump, on Monday threatened further action. The US is trying to prise open Tehran’s grip on shipping going through the strait, which before the war accounted for a fifth of the world’s seaborne energy supply. Washington claimed that Iranian control over the waterway had been loosened by repeated US attacks on Iranian missile launchers and radars.

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© Photograph: Majid Asgaripour/Reuters

© Photograph: Majid Asgaripour/Reuters

© Photograph: Majid Asgaripour/Reuters

Response seeks to discredit Washington Post story that four generals and admirals advised against prolonging Iran war

Pete Hegseth regularly receives formal objections from senior commanders and proceeds anyway, the Pentagon’s top spokesman has said, as he tried to discredit a Washington Post report that four generals and admirals had advised against prolonging the war in Iran.

“Of course, we demand candid military advice,” Sean Parnell wrote on X, formerly Twitter. “Non-concurs are standard. The Secretary sees them constantly. That’s how you run a real military.”

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© Photograph: Evelyn Hockstein/Reuters

© Photograph: Evelyn Hockstein/Reuters

© Photograph: Evelyn Hockstein/Reuters

Treasury Secretary Scott Bessent is meeting with finance ministers of the world's largest economies this week at a time when the United States has disrupted the international order with aggressive tariffs on major allies and an unpopular war on Iran.

The incident comes after U.S. forces on Sunday struck Iranian rocket launchers on an Iranian island, breaking a lull in fighting in the six-month war.

Trump’s Operation Economic Outcast is expected to push many Iranians into deeper poverty as food inflation soars

For many Iranians, the new US sanctions campaign, called Operation Economic Outcast, seems superfluous given the grim economic situation in their country.

Iranians are facing runaway food inflation, closed petrol stations and a seemingly never-ending depreciation of the nation’s currency caused by a lack of foreign exchange reserves.

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© Photograph: Abedin Taherkenareh/EPA

© Photograph: Abedin Taherkenareh/EPA

© Photograph: Abedin Taherkenareh/EPA

Trump’s Operation Economic Outcast is expected to push many Iranians into deeper poverty as food inflation soars

For many Iranians, the new US sanctions campaign, called Operation Economic Outcast, seems superfluous given the grim economic situation in their country.

Iranians are facing runaway food inflation, closed petrol stations and a seemingly never-ending depreciation of the nation’s currency caused by a lack of foreign exchange reserves.

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© Photograph: Abedin Taherkenareh/EPA

© Photograph: Abedin Taherkenareh/EPA

© Photograph: Abedin Taherkenareh/EPA

The renewed attacks were the latest sign that the war that began six months ago appears far from over.

© Reuters

The US House is back after a five-week recess; government funding is guaranteed through 30 September

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Chris Hippensteel

We’re watching today as Scott Bessent, the US treasury secretary, and Kevin Warsh, the chair of the Federal Reserve, deliver their opening remarks at the G20 meetings in Asheville, North Carolina.

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© Photograph: Finn Gomez/Getty Images

© Photograph: Finn Gomez/Getty Images

© Photograph: Finn Gomez/Getty Images

Plus, a groundbreaking new space telescope.

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Chris Hippensteel

We’re watching today as Scott Bessent, the US treasury secretary, and Kevin Warsh, the chair of the Federal Reserve, deliver their opening remarks at the G20 meetings in Asheville, North Carolina.

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© Photograph: Kevin Lamarque/Reuters

© Photograph: Kevin Lamarque/Reuters

© Photograph: Kevin Lamarque/Reuters

The first attacks in a month jolted energy markets. The average U.S. gasoline price remained 37 percent higher since the war began.

© Michelle Groskopf for The New York Times

US targets Iran’s Larak Island in first exchange of fire in more than a month as Masoud Pezeshkian says America ‘has not fulfilled its commitments’

• First US military attacks on Iran in a month prompt retaliation

Coinciding with this week’s G20 meeting, the EU has issued a statement saying it will work with the US and other allied countries to maintain economic pressure against Iran.

“The ‌EU welcomes efforts at ensuring that Iran ceases its destabilising activities and engages in peace negotiations with good ‌faith, also through additional economic pressure, including through ​the US-led Operation Economic Outcast,” it said in reference to the pressure strategy the White House describes as “an unprecedented campaign to sever every remaining economic lifeline sustaining” the Islamic republic.

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© Photograph: Reuters

© Photograph: Reuters

© Photograph: Reuters

Iran responded to an assault on its Larak Island by targeting US bases in Jordan

• Trump threatens further action as US and Iran exchange fire in new flare-up

Coinciding with this week’s G20 meeting, the EU has issued a statement saying it will work with the US and other allied countries to maintain economic pressure against Iran.

“The ‌EU welcomes efforts at ensuring that Iran ceases its destabilising activities and engages in peace negotiations with good ‌faith, also through additional economic pressure, including through ​the US-led Operation Economic Outcast,” it said in reference to the pressure strategy the White House describes as “an unprecedented campaign to sever every remaining economic lifeline sustaining” the Islamic republic.

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© Photograph: Morteza Nikoubazl/NurPhoto/Shutterstock

© Photograph: Morteza Nikoubazl/NurPhoto/Shutterstock

© Photograph: Morteza Nikoubazl/NurPhoto/Shutterstock

Centre for Economics and Business Research calculates effect of inflation and wage stagnation to end of 2027

UK households will have suffered a £2,400 financial hit, on average, from the Iran war by the end of 2027, new analysis shows.

The Centre for Economics and Business Research (CEBR) has calculated that the jump in inflation since the conflict began, and weaker wage growth, will knock £1,100 off the real income of the average UK household in 2026, and by a further £1,300 in 2027.

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© Photograph: Jill Mead/The Guardian

© Photograph: Jill Mead/The Guardian

© Photograph: Jill Mead/The Guardian

"This is going to be financial violence if we have to," Bessent said in the interview. "We are showing people that we know who you are, you know who you are, and this has got to stop."

The fighting comes just days after the Trump administration said it would turn its focus to increasing economic pressure — rather than military action — to try to end its war with Iran.

US says it attacked Larak Island to prevent launch of sea mines, prompting reprisals against airbases used by US forces, with tanker fire also reported in strait

Iran has launched retaliatory strikes on airbases in Jordan and the United Arab Emirates after the US attacked Iranian rocket launchers in the strait of Hormuz, the first such hostilities in a month.

Hours later, Iranian state TV later reported that a supertanker had caught fire after hitting two naval mines while attempting to pass through the southern side of the strait. It ‌did not identify the vessel or provide information ​about its crew.

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© Photograph: Maxar Tech/AFP/Getty Images

© Photograph: Maxar Tech/AFP/Getty Images

© Photograph: Maxar Tech/AFP/Getty Images

US attacks Iranian rocket launchers on island in strait of Hormuz and Tehran targets US bases in Jordan and UAE

The US has reverted to military attacks on Iran for the first time in a month, firing missiles and drones at Iranian rocket launchers on an island in the strait of Hormuz, prompting the Iranian military to attack US military bases in Jordan and the United Arab Emirates.

US Central Command said it acted late on Sunday after it detected the Iranians planning to fire fresh mines into the strait. Last week Donald Trump claimed the US navy had cleared the strait of mines for the first time since the conflict started on 28 February, a claim the Iranians rejected as lies.

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© Photograph: Maxar Tech/AFP/Getty Images

© Photograph: Maxar Tech/AFP/Getty Images

© Photograph: Maxar Tech/AFP/Getty Images