The United States has imposed sanctions on 22 entities linked to a transnational network engaged in illicit oil trade on behalf of the Iranian regime.
The U.S. Department of State annonuced that Iran's “Shadow Banking” network had operated through foreign front companies to move funds that "support the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), finance Tehran’s destabilizing activities and campaigns of terror, and advance its ballistic missile programs—actions that threaten international peace and security."
"Iran uses front companies based in Hong Kong, United Arab Emirates, and Türkiye as part of this network to help sanctioned Iranian government entities generate revenue from the sale of petroleum and other commodities subject to U.S. sanctions," the Department of State said and added that the United States would continue to deny Iran access to financial networks and the global banking system as long as Iran continues its destabilizing activities.
According to the Department of the Treasury’s Office of Foreign Assets Control, the IRGC-QF primarily leverages front companies outside of Iran, which use offshore accounts to transfer hundreds of millions of dollars in profits derived from Iranian oil sales to circumvent sanctions and funnel funds toward IRGC-QF terrorist activities.
Refineries purchasing Iranian oil, transfer payments to these front companies, which then move the funds to other front company accounts also controlled by the IRGC-QF.
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Grammy-winning hip-hop artist Kanye West has postponed his upcoming concert in Marseille, France, “until further notice”, amid mounting political opposition and renewed controversy over his past remarks.
A shift in regional trade dynamics is taking shape in the South Caucasus, as Armenian Prime Minister Nikol Pashinyan outlines current and future transport routes for Armenian goods.
Iran’s mission at the United Nations headquarters in New York has, in a letter to the Secretary-General and the Security Council President, demanded war compensation from five regional states over damages caused during Israeli-U.S. aggression against Iran.
Canada’s Prime Minister, Mark Carney, has secured a parliamentary majority for the Liberal Party of Canada, strengthening his ability to govern amid mounting economic pressures, including a trade dispute with U.S. President Donald Trump.
Dubai’s most iconic hotel, the Burj Al Arab, is set to close for the first time since opening in 1999 as it begins an extensive 18-month refurbishment aimed at preserving its status as a global symbol of luxury.
The U.S. and Iran could resume peace talks over the next couple of days, U.S. President Donald Trump has said. Talks between Israel and Lebanon were held in Washington yesterday. Fuel prices have dropped below $100 a barrel. U.S. blockade on Iranian ports completes first day.
Azerbaijan and Russia have announced a formal settlement over the 2024 crash of an Azerbaijan Airlines (AZAL) Embraer 190 near Aktau, confirming that all outstanding issues, including compensation, have been resolved.
Türkiye is reeling after a second school shooting in as many days, after a 14-year-old student killed nine people - eight pupils and one teacher - and wounded 13 others at a middle school in the south-eastern province of Kahramanmaraş on Wednesday, officials said.
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South Korea will import 18 million barrels of Kazakh oil via routes bypassing the Strait of Hormuz, as it seeks to shield its energy supply from mounting instability in the Middle East.
Kazakhstan has ratified an allied relations treaty with Tajikistan and a strategic partnership agreement with the United Kingdom, aiming to deepen regional cooperation and expand ties with a major foreign investor.
The United Nations says it reached millions of Afghans with healthcare, education and livelihoods support in 2025, despite declining global humanitarian aid and mounting pressures from displacement, climate shocks and operational constraints.
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