August 26, 2026

Good morning! Today is Wednesday, August 26th 2026, and this is The American Conservative's Morning Brief. Treasury launches "Operation Economic Outcast" against Iran on day 179 of the war, but analysts warn the sweeping sanctions could escalate rather than replace military conflict as Tehran vows it knows "how to play the game.". Ted Snider argues Trump's tariff threats, annexation talk, and bombing warnings against allies from Canada to Oman have squandered global trust in Washington and ended the era of American hegemony. CIA Director John Ratcliffe made an unannounced eight-hour visit to Moscow on Tuesday, the first known trip by an agency chief to the Russian capital since 2021. and now for the details. We begin with the Iran War, now in its 179th day. The Treasury Department on Monday unveiled the long-promised "Economic D-Day" against Iran, an initiative dubbed Operation Economic Outcast. The package widens secondary sanctions to new sectors, imposes penalties on nearly 60 Iran-linked entities, suspends licenses for Iranian remittance payments and academic exchanges, and issues new guidance aimed at blocking third-country cooperation with Iranian control over the Strait of Hormuz. Treasury Secretary Scott Bessent described the campaign as unprecedented, though he declined to set deadlines for compliance or to single out China, which buys close to 90 percent of Iranian oil. Tehran's economy minister responded that Iran has "our own tools" and knows "how to play the game." As Luke Nicastro reports, some analysts warn the measures could escalate rather than replace military conflict. Iran expert Sina Toosi told the New York Times that the harder Washington pushes third countries to sever Iran's remaining lifelines, the stronger Tehran's incentive becomes to make participation in that isolation costly. Meanwhile, Israeli strikes in Gaza reportedly killed at least four people Monday, including two children, and the Israeli Defense Forces have struck Gaza on six of the seven days since Jared Kushner's visit last week urging de-escalation. An oil tanker was hit by a projectile off the coast of Oman, cross-Strait traffic hit a three-month low, Brent crude is trading around 86 dollars a barrel, and gasoline is averaging 4 dollars and 10 cents a gallon nationally. Turning to the broader diplomatic fallout, Ted Snider takes stock of America's alliances in the age of Trump. Snider invokes the famous line attributed to Henry Kissinger, that it may be dangerous to be America's enemy but fatal to be its friend. President Trump had said he wanted his legacy to be the wars he ended and the wars he never began. But Snider argues Trump will instead be remembered as the president who squandered trust in Washington and ended the era of American hegemony. Canada, America's second-largest trading partner, has been hit with tariffs heavy enough to cripple its economy, and Trump has repeatedly floated annexation as the 51st state. Denmark has faced threats over Greenland. After Spain declined to join the war on Iran, Trump ordered Treasury Secretary Bessent to cut off all trade with Madrid. The Gulf states, who had lobbied against war with Iran, are diversifying away from the American security umbrella—Saudi Arabia, Pakistan, and Turkey signed a mutual defense pact earlier this month. Oman, a longtime intermediary between Washington and Tehran, has twice been threatened with bombing by the president. And South Korea, described by Defense Secretary Pete Hegseth as a "model ally," now faces reductions in joint military exercises, prompting Seoul to accelerate its push for military independence. Snider concludes that Trump has jeopardized U.S. leadership and made the world a more dangerous place. In a related development on the diplomatic front, CIA Director John Ratcliffe made an unannounced visit to Moscow on Tuesday. As Andrew Day reports, Ratcliffe traveled aboard a military cargo plane and spent roughly eight hours on the ground in the Russian capital, according to online flight tracking data. The purpose of the visit was not disclosed; CBS News, which broke the story, said only that Ratcliffe was there "for meetings." It marks the first known trip by a CIA director to Moscow since 2021, when then-director William Burns warned President Vladimir Putin against attacking Ukraine. The Trump administration has struggled to broker an end to Russia's war in Ukraine, now in its fifth year, with special envoy Steve Witkoff having made several previous trips to Moscow. Ratcliffe flew from Washington to Riga, Latvia on Sunday before continuing on to the Russian capital. Those are today's highlights. For the full stories and more, visit theamericanconservative.com. Thank you for starting your morning with us.