US-Iran Military Escalation & Gulf Strikes Amid Fragile Diplomacy – July 25, 2026

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The United States and Iran are exchanging military strikes in the Gulf even as Washington pursues diplomatic talks, with President Trump declaring the US 'locked and loaded.' Iran's Foreign Minister Araghchi has publicly rejected pressure, vowing Iran 'fears no one,' while the US plans to redirect frozen Iranian assets toward war damages compensation. The dual-track military-diplomatic dynamic sharply elevates sanctions enforcement complexity and escalation risk across energy, finance, and maritime sectors.