Key Facts

• The U.S. military shot down four Iranian drones and struck a military base preparing to launch another drone.
• These actions were taken because the drones threatened the Strait of Hormuz, a key waterway for global oil and gas shipments.
• President Donald Trump warned Iran that the U.S. would “finish the job” if no agreement is reached.
• The U.S. imposed new sanctions targeting Iran’s agency managing shipping through the Strait of Hormuz.
• The Trump administration is also seeking deals with drone companies to boost U.S. drone production.
• Israel warned residents of southern Lebanese city Tyre to evacuate ahead of military action against Hezbollah, an Iran-backed group.
• The European Central Bank’s chief economist said energy price shocks from the conflict may keep inflation high for some time.
• President Trump’s administration emphasized that no one would control the Strait of Hormuz under any future deal, but the U.S. would monitor the area closely.