Women walk past a portrait of the late Iranian Supreme Leader Ayatollah Ali Khamenei, who was killed in the U.S. and Israel strike on Feb. 28, and images of the Iranian flag, on a sidewalk in downtown Tehran, Iran. (Photo: AP)A parliamentary committee in Iran has thrown its support behind legislation that would require vessels from countries authorized to transit the Strait of Hormuz to pay Tehran for services rendered along the route a move that lands amid sharpening rhetoric between Iran, the United States, and their allies.Mohsen Rezaei, Iran’s security chief, cautioned that any nation choosing to join Washington’s sanctions campaign against Tehran would be regarded as hostile, with Iran vowing to strike back at that country’s interests. Rezaei has also floated the possibility of forceful retaliation if the US takes further action, and has pushed for a rethink of Iran’s diplomatic posture, pointing to what he characterized as repeated American violations of prior commitments.Story continues below this adTrump stakes a claim to the Strait: Adding fuel to the standoff, US President Donald Trump shared a map on Truth Social labeling the Strait of Hormuz as newly claimed US territory following remarks a day earlier at a rally where he described the strait in similar terms.Iran’s Foreign Minister Abbas Aragchi rejected the prospect of fresh American sanctions, telling supporters in a Telegram video that recycled threats signal Washington has run out of options after failed military efforts. He argued that the US must “speak to Iran respectfully to find a solution based on justice and honour.” This comes as US Treasury Secretary Scott Bessent has pledged sweeping new penalties against Iran, even as the country’s currency continues to slide and its economy strains under existing sanctions and war damage.Key PointsIran’s National Security and Foreign Policy Commission has approved draft legislation charging ships transit fees for passing through the Strait of Hormuz.Security chief Mohsen Rezaei warned that nations joining US sanctions against Iran will be treated as adversaries and face retaliation against their interests.Trump publicly asserted a US claim over the Strait of Hormuz, calling it “American territory” in a rally speech and social media post.Pakistan Army Chief Field Marshal Asim Munir will travel to Tehran on Monday at the head of an official delegation, Iranian Foreign Ministry Spokesperson Esmail Baghaei said on Sunday.Oil falls 1% ahead of US announcement to impose further sanctions on Iran.Follow The Indian Express Global Desk for live coverage of the day’s top world news.Live UpdatesAug 24, 2026 04:53 AM ISTOil falls 1% ahead of US announcement to impose further sanctions on IranOil prices slipped 1% on Monday as investors took profit ahead of an expected announcement from Washington to impose more sanctions on Iran.Brent crude futures fell 94 cents, or 1%, to $93.45 by 2308 GMT, while US West Texas Intermediate crude was at $86.14 a barrel, down 92 cents, or 1.06%.US Treasury Secretary Scott Bessent, set to hold a press conference at 2 p.m. EDT (1800 GMT) on Monday, has threatened to impose "the toughest sanctions in history" on Iran.Aug 24, 2026 04:51 AM ISTWelcome to our live blog for world news updates. Stay with us as we bring you the latest developments as they happen.Stay updated with the latest - Click here to follow us on Instagram© IE Online Media Services Pvt Ltd