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Iran live updates: Trump says US 'open' to 'concept' of negotiating deal with Iran

"I will determine whether or not the U.S.A. will choose to engage," Trump said.

President Donald Trump announced "major combat operations" against Iran on Feb. 28, with massive joint U.S.-Israeli strikes targeting military, government and infrastructure sites.

Delegations from the U.S. and Iran entered negotiations in June aimed at a war-ending deal based on a memorandum of understanding signed by both countries.

Those talks broke down as the U.S. and Iran continued to exchange strikes, with the strategic Strait of Hormuz as the primary flashpoint. Trump then said in August that the U.S. would launch a "crushing economic operation" to force Tehran into submission.


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13 civilians injured in Houthi strikes, Saudi Arabia says

Thirteen civilians were injured in Houthi strikes on Saudi Arabia on Monday, according to the spokesman for the Saudi Coalition Forces.

Civilian infrastructure in the cities of Khamis Mushait, Abha and Taif were struck by ballistic missiles and drones, with seven homes damaged, the spokesman said.

The Saudi military will "deal with these attacks responsibly and decisively," the spokesman said.


Iran war has resulted in 'strategic inventory shortfalls' of munitions: Pentagon Inspector General's report

The Pentagon's Inspector General said in a report released Monday that the Pentagon acknowledged that the war in Iran has resulted in munitions shortfalls.

The "munitions expenditure in [Operation Epic Fury] has resulted in strategic inventory shortfalls and revealed industrial base bottlenecks for munitions resupply," including the building of solid rocket motors, explosives and propellants, the report stated.

The Defense Department is "working to streamline procurement processes and production lead times, and to stockpile critical materials, components, and selected munitions to respond rapidly to a contingency," the report stated.

The information was provided by the Defense Department in written responses sent to the Inspector General on Aug. 26, according to the report.

The Defense Department estimated the cost of the war to be $33.4 billion as of June 29, according to the report. The estimate included $7.4 billion of cumulative obligations, $22.3 billion for expended munitions and $3.7 billion in equipment losses, it said.

U.S. Central Command reported that Iranian strikes "damaged and destroyed hundreds of buildings and structures" at U.S. bases in the Middle East, according to the report.

U.S. diplomatic facilities in the region have also suffered $184 million in damage from Iranian strikes, the report said.

-ABC News' Luis Martinez


Iran says it won't negotiate until its conditions are met

The secretary of Iran's Supreme National Security Council said that it won't negotiate "until Iran's conditions are met," according to a statement published by Iranian state media.

"The equations regarding oil and the Straits have changed," the statement continued.

The statement comes after President Donald Trump said Monday that Iran "wants to make a deal, quickly and badly" and that the U.S. is "open" to the "concept" of negotiating.


Treasury Department puts Iran-related sanctions on Russian bank

The U.S. Treasury Department hit Russia's VTB Bank with new sanctions, accusing the financial institution of attempting to move frozen Iranian assets through the global financial system to benefit Tehran.

"VTB Bank opened offices in Iran, built banking ties with sanctioned Iranian financial institutions, and worked to move billions of dollars in Iranian assets," Treasury Department spokesperson Tmmy Pigott said in a statement on Monday. "The United States remains steadfast in cutting off the financial lifelines that allow the Iranian regime to fund terrorism, destabilize the region, and threaten U.S. economic security."

VTB, a majority state-owned entity registered in Saint Petersburg, was first penalized by Treasury's Office of Foreign Assets Control following Russia's annexation of Crimea in 2014 and then designated by the US following Moscow's invasion of Ukraine in 2022, a step which cut it off from the SWIFT financial messaging system. Still, VTB -- Russia's second-largest financial institution -- reported record profits in 2024 and has continued to expand.

ABC News has learned that the Treasury Department officials assess that this round of sanctions could be more effective in encouraging foreign banks to cut ties with VTB than earlier Russia-related measures because the authorities they have been issued under are associated with Iran and global terrorism concerns, which have traditionally enjoyed broad UN support and greater levels of compliance.

The Treasury Department is also announcing that it will meet with global financial institutions this week in order to "arm them with the information they need to shut down revenue streams and procurement networks tied to the Iranian regime, the IRGC, Iran's terrorist proxies, and their enablers."

-ABC News' Shannon Kingston