August 20, 2026 — US imposes new sanctions on Hezbollah, threatens economic pressure on Iran | CNN

Get the latest updates on the war with Iran here. • Economic pressure: Iran has condemned US President Donald Trump’s threats of “crushing economic warfare” after weeks of little progress in wartime diplomacy. The US also imposed new sanctions against Hezbollah and designated the Lebanese militant group as an Iranian proxy. • US aircraft carriers: The USS George Washington has arrived in the Middle East to relieve the taxed USS Abraham Lincoln, which is now returning home, a source told CNN. The carrier’s extended deployment during the Iran war led to concerns from military families and lawmakers about the crew’s mental health and morale. • Oil prices: Global crude rose to nearly $94 a barrel — its highest level since late July — during an ongoing deadlock over the Strait of Hormuz. US Vice President JD Vance said economic pressure remains the “most effective tool” against Iran, but acknowledged Thursday that it’s a “delicate dance” as Americans face high gas prices. President Donald Trump is threatening heightened sanctions on Iran as Tehran warns it could deploy more “destructive” weapons if the war restarts. It comes at a time when the US presid