US declares "new phase" in war with Iran

U.S. Vice President JD Vance said in a podcast interview aired on Thursday that the conflict between the United States and Iran has "entered a new phase", adding that applying economic pressure is the most effective tool against Iran. He also acknowledged that Washington and Tehran are exerting economic pressure on one another.

During the interview, Vance noted that applying economic pressure to Iran was a "delicate dance" because Iran also tries to impose economic pressure on the U.S. in response. But the reality over the past few weeks is that the pressure Iran has been under is far greater than that on the U.S., he added.

On the issue of rising U.S. domestic fuel prices linked to Iran's moves over the Strait of Hormuz, Vance acknowledged that oil prices have clearly gone up.

Vance stated that the "ultimate goal" of economic pressure is to prevent Iran from rebuilding its nuclear capabilities.

With U.S. Iran negotiations stalled, U.S. President Donald Trump announced on Wednesday what he described as "the most crushing economic operation ever taken" against any country providing a lifeline to Iran. He warned that any country whose financial institutions, enterprises, airports or government entities offer any form of support to Iran will face severe economic consequences. He urged allies to stand with the United States to "isolate, and defeat, the Iran threat."

Iran's Foreign Ministry issued a statement on Thursday, strongly condemning Washington's fresh economic and trade sanctions. The ministry stressed that Iran will deploy "all tools and capabilities" to safeguard its national interests and the legitimate rights of the Iranian people.

US declares "new phase" in war with Iran

The Trump administration has initiated procedures to pay 725 million U.S. dollars toward U.S. arrears owed to the United Nations, according to a State Department notification to Congress on Thursday.

The payment is expected to be completed before President Trump travels to New York next month to attend the UN General Assembly and deliver an address.

However, the 725 million U.S. dollars represents less than 20 percent of the total amount the United States owes.

In May, the United Nations said U.S. arrears exceeded 4 billion U.S. dollars. The U.S. side maintains that the actual total is lower than that figure.

Under the UN Charter, a member state may lose its voting rights in the General Assembly if its arrears equal or exceed the total assessments due for the preceding two years.

The United States is the largest contributor to the UN budget. The Trump administration had previously refused to pay some mandatory assessments for the UN regular budget and peacekeeping budget, cut voluntary funding to multiple UN agencies, and withdrawn from several international organizations.

US to pay 725 million dollars in overdue UN arrears