Live Update arrow right icon From the Liveblog of Monday, August 24, 2026

Trump says Iran ‘completely collapsing’ as US set to announce new sanctions

By Jacob Magid 24 August 2026, 4:02 pm
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Jacob Magid is The Times of Israel's US bureau chief

Motorcyclists pass a billboard depicting US President Donald Trump underwater amid explosions, with the words 'Great Victory! Strait of Hormuz,' in Tehran, Iran, August 24, 2026. (AP/Vahid Salemi)
Motorcyclists pass a billboard depicting US President Donald Trump underwater amid explosions, with the words 'Great Victory! Strait of Hormuz,' in Tehran, Iran, August 24, 2026. (AP/Vahid Salemi)

US President Donald Trump writes on Truth Social, IRAN IS COMPLETELY COLLAPSING!”

The brief message comes as Iran’s currency hit a new record low and ahead of a US announcement on new sanctions meant to pile pressure on an economy already battered by previous sanctions and a US naval blockade.

Last week, Trump reportedly spoke with Pakistan’s military chief in an effort to restart negotiations with Iran, as Tehran has still been able to limit traffic in the Strait of Hormuz, jacking up global shipping costs.

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