The U.S. military is conducting strikes on Iranian targets in the area of the Strait of Hormuz, U.S. Central Command said Tuesday.
Why it matters: The attacks are part of a plan President Trump and his senior aides have been consideringin recent days to wage limited strikes in the Strait of Hormuzto prevent Iran from rebuilding the radar and missile capabilities it needs to attack ships. The plan was reported by Axios on Monday.
U.S. officials are defending their work with Venezuelan businessman Alejandro Betancourt in the unprecedented White House move to effectively gain control over huge oilfields in the country.
They're also confirming the Trump administration's support for Venezuela's elections.
Why it matters: Betancourt is the colorful and controversial figure who heads North American Blue Energy Partners (NABEP), the oil company partnering with the administration in the agreement that gives the U.S. preferential access to output from 17 major fields.
The world's biggest economies need stronger growth to outrun mounting debt, aging populations and a new wave of global shocks. That much, the world's financial leaders can agree upon.
But this week's G20 meeting is exposing sharp differences over what's holding global growth back.
The big picture: That's the reality on the ground as the world's leading finance ministers meet in Asheville, North Carolina, against a backdrop of rising global interest rates and massive debt overhangs.
President Trump's historic Venezuelan oil deal revolves around a colorful and controversial man from Caracas with a long history of supporting U.S. interests — including the operation to remove former strongman Nicolas Maduro.
Why it matters: Alejandro Betancourt, 46, runs the oil company that's entering into an unprecedented partnership with the Pentagon. It gives America access to some of Venezuela's vast oil fields at a time when U.S. reserves are low.
Vice President Vance on Monday offered an olive branch to Jewish Republicans who have grown wary of his views toward Israel.
During a closed-door appearance before the Republican Jewish Coalition at the Venetian hotel in Las Vegas, Vance called Israel "extremely important to America's national security" and condemned rising antisemitism, according to two sources familiar with his remarks.
Why it matters: Vance's appearance at the meeting is the latest indication that he's trying to repair ties with a powerful but skeptical constituency within the GOP ahead of an expected bid for president in 2028.
U.S. Army Secretary Dan Driscoll is stepping down from his post, according to a Department of Defense official.
Why it matters: Driscoll, the youngest Army secretary in U.S. history, was well-liked in the military and regarded as a Trump 2.0 power player who took on a diplomatic role in talks to end the war between Russia and Ukraine.
ASHEVILLE, N.C. — Treasury Secretary Scott Bessent met with Russian Finance Minister Anton Siluanov on the sidelines of the G20 on Monday, a striking sign of the Trump administration's willingness to reopen high-level engagement with Moscow.
Why it matters: Russia's top financial official is attending the gathering of global economic policymakers in person for the first time since Russia's invasion of Ukraine. His appearance exposed the sharp divide between the U.S. and its European allies over how Moscow should be treated.
President Trump and his senior aides have been consideringwaging limited strikes in the Strait of Hormuzto prevent Iran from reconstituting its radar and missile capabilitiesto attack ships, according to three U.S. officials.
Why it matters: The plan, which was developed over the past weekby U.S. Central Command (CENTCOM) and supported by Secretary of Defense Pete Hegseth, had not been approved by Trump ahead of this weekend's exchange of fire with Iran. But he could greenlight it after the new escalation.
The globe's top economic policymakers gather in the mountains at a shaky period for the global economy, with the Iran conflict driving up energy prices, trade tensions running high and governments facing huge debt loads.
Treasury Secretary Scott Bessent's message to the world: The way through is stronger growth.
Treasury Secretary Scott Bessent made a case for lighter financial regulation at the G20 finance ministers gathering Monday, arguing to CEOs that post-crisis rules have squeezed small banks, according to remarks first shared with Axios.
Why it matters: The private sector has a prominent role in the U.S.-led G20, with business leaders like JPMorgan Chase CEO Jamie Dimon and Goldman Sachs chief David Solomon participating alongside finance ministers and central bankers.
Venture capitalist Josh Kushner is speaking publicly for the first time on his failed efforts to help form a new commercial subsidiary for World Cup organizer FIFA, which would have included up to $4.2 billion in private investment.
Why it matters: This comes just days after European soccer authority UEFA asked a federal judge in Manhattan to approve subpoenas for related testimony and documents from Kushner and his firm Thrive.
The U.S. military struck Iranian military targets to prevent the deployment of sea mines in the Strait of Hormuz, a U.S. official said.
Why it matters: This is the first known U.S. strike in Iran since late July when President Trump paused a two-week U.S. military campaign in the strait in late July.
