NEWSLETTER: Can US pressure stem cash flows to Iran?

Negotiations over the Strait of Hormuz are moving toward a temporary navigational corridor after nearly six months of blockade, while Washington quietly returns diplomatic staff across the Middle East. In the background, the U.S. Treasury is intensifying sanctions efforts with “Operation Economic Outcast.” At a Monday launch event, Treasury Secretary Scott Bessent praised the UAE for taking “the brunt of the Iranian attacks in the Gulf,” days after Abu Dhabi announced a halt to trade and financial transactions with Iran. The key issue, however, is that U.S. investigators have mapped shadow-banking networks tied to Iran, notably involving the UAE, Hong Kong, and Singapore.