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Bessent Announces Secondary Sanctions as MBS, Macron Urge Hormuz Navigation

8/25/2026

Summary

Story summary

Crown Prince Mohammed bin Salman and President Emmanuel Macron called urging Strait of Hormuz navigation to resume.
They condemned recent ship attacks in the Strait and affirmed freedom of navigation under international law.
Treasury Secretary Scott Bessent announced secondary sanctions on Iran, setting a deadline for countries to cease related activities.
French companies signed a $6 billion amusement-park investment, a €434 million CMA CGM terminal deal and a €500 million Alstom metro contract.

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Story summary

Crown Prince Mohammed bin Salman and President Emmanuel Macron called urging Strait of Hormuz navigation to resume.
They condemned recent ship attacks in the Strait and affirmed freedom of navigation under international law.
Treasury Secretary Scott Bessent announced secondary sanctions on Iran, setting a deadline for countries to cease related activities.
French companies signed a $6 billion amusement-park investment, a €434 million CMA CGM terminal deal and a €500 million Alstom metro contract.