Sanctions and economy reporting on Iran — new designations and relief, oil exports and shipping, banking restrictions, and the effect on the rial and daily prices — collected from independent English-language outlets.
Kpler says Hormuz traffic dropped sharply on 31 August, Bab el-Mandeb stable Traffic through the Strait of Hormuz fell sharply on August 31, with five confirmed crossings, down 50 percent from 10 a day earlier, according to maritime data firm Kpler. Four vessels entered the Middle East Gulf and one exited, using a mix of Iranian, Omani and negotiated routes. Two of the crossings involved shadow vessels, while one involved a sanctioned vessel.
Washington DC [US], September 5 (ANI): The United States, in its latest efforts of economic sanctions under Operation Economic Outcast, on Friday (local time) imposed fresh sanctions on a Trkiye-based financial institution and two of its subsidiaries, accusing them of facilitating transactions linke
The United States on Friday sanctioned Turkey’s Golden Global Bank and two subsidiaries over alleged financial dealings with Iran, escalating a campaign targeting foreign institutions accused of helping Tehran move money around sanctions.
WASHINGTON -- The United States has imposed sanctions on a Turkish investment bank and two subsidiaries, accusing them of helping Iran move oil revenue and providing access to the international financial system as Washington intensifies its campaign to squeeze Tehran.
Revealed: Microsoft signed $125m contract with Israel during first year of Gaza war Microsoft signed a contract worth more than $100m with the Israeli government in 2024, according to documents published on the Israeli Ministry of Finance’s Hebrew-language website, Middle East Eye can reveal. The multimillion-dollar deal appears in Israel's annual budget-execution report for 2024 , which was published by the finance ministry's accountant general in March 2025. However, details of the Microsoft agreement were obscured within a lengthy list of procurement commitments and only surfaced following close analysis of the budget report by MEE.
US sanctions on Iran hit three Turkish entities The US has targeted three Turkey-based entitites in a new round of Iran-related sanctions issued on Friday. According to the US Treasury Department, the entities targeted are Golden Global Portfoy Yonetimi Anonim Sirketi, Golden Global Varlik Kiralama Anonim Sirketi, and Golden Global Yatirim Bankasi Anonim Sirketi. The move is the latest in the Trump administration's campaign to economically pressure Tehran six months into Washington's war on Iran, which has pushed energy prices higher worldwide.
A bank owned by the Iranian state is still open in London, operating on a temporary permission from the British Treasury that expires on October 22. Renewing it, or letting it lapse, is Britain's answer to Washington's campaign to shut Iran's banks for good.
'Secretive' UAE and Swiss-based firms reportedly major crude suppliers to Israel Two little-known oil traders, Vitol and Heritage Petroleum FZCO, have emerged as two of the top suppliers of crude to Israel during its genocide in Gaza , according to a new report by Oil Change International (OCI) and the Centre for Research on Multinational Corporations (SOMO). Together, the companies collectively exported approximately 22m barrels to Israel, representing 11 percent of the country’s total crude imports between October 2023 and June 2026, the report found. Despite a Turkish embargo against Israel, the majority of the oil shipped by the two companies flows through the Turkish port of Ceyhan.
'Secretive' UAE and Swiss-based firms found to be major crude suppliers to Israel, says report Submitted by Katherine Hearst on Thu, 09/03/2026 - 11:55 Vitol and Heritage Petroleum FZCO supplied 22m barrels of crude, much of it shipped via Turkey despite Ankara’s trade embargo, new data has revealed A crude oil tanker crosses the Bosphorus Strait in the Besiktas district of Istanbul on 6 April 2018 (Ozan Kose/AFP) Off Two little-known oil traders, Vitol and Heritage Petroleum FZCO, have emerged as two of the top suppliers of crude to Israel during its genocide in Gaza , according to a new report by Oil Change International (OCI) and the Centre for Research on Multinational Corporations (SOMO). Together, the companies collectively exported approximately 22m barrels to Israel, representing 11 percent of the country’s total crude imports between October 2023 and June 2026, the report found. Despite a Turkish embargo against Israel, the majority of the oil shipped by the two companies flows through the Turkish port of Ceyhan.
Argentina threatens oil firms with sanctions as Falkland Islands dispute intensifies Submitted by MEE staff on Fri, 09/04/2026 - 10:09 Javier Milei cited Trump's threat to change position on islands over the UK's lack of support for war on Iran Argentina's President Javier Milei delivers a speech during the Americas Society/Council of the Americas 'Political and Economic Perspectives' conference in Buenos Aires on August 20, 2026 (AFP/Juan Mabromata) Off Argentina has threatened sanctions on oil firms that seek to drill around the Falkland Islands as he continues to up the pressure over the British Overseas Territory. The country's far-right President Javier Milei said in a national address that the "winds of change" favoured Argentina's claim to the islands, which they refer to as Las Malvinas. He cited a threat by US President Donald Trump to change his country's position on the islands over the UK's lack of support for the war on Iran .
World food prices at highest since 2022, says UN World food prices rose in August to their highest since late 2022, impacted partly by the war on Iran, the United Nations' Food and Agriculture Organisation (FAO) said on Friday. Extreme heat and drought in Europe, the threat of a severe El Nino weather pattern and trade upheaval caused by the Ukraine and Iran wars have unsettled agricultural markets, pushing grain prices to three-year highs and sugar to a one-year peak, the agency said. The FAO Food Price Index, which tracks monthly changes in a basket of internationally traded food commodities, averaged 133.
Morning update Good morning Middle East Eye readers, Here are the latest developments: South Korea is reviewing practical options, including possible military measures, for supporting freedom of navigation in the Strait of Hormuz, a presidential Blue House official said on Friday. The official has denied claims suggesting that Seoul provided no assistance in the matter, saying they were "not true". US Treasury Secretary Scott Bessent that the European Union has officially joined Washington’s economic pressure campaign against Iran.
New Delhi [India], September 4 (ANI): Russian Ambassador to India Denis Alipov on Friday criticised Western sanctions and possible secondary tariffs targeting countries that continue to import Russian oil, saying those imposing such measures have chosen 'pressure tactics instead of honest cooperation' over the particular matter.
WASHINGTON -- Ukraine's top sanctions official says he remains optimistic about prospects for a sweeping Russia sanctions bill in the US Congress despite growing uncertainty over when the House of Representatives will take it up, as lawmakers face a sharply shortened legislative calendar ahead of the November midterm elections.
Washington DC [US], September 4 (ANI): US Treasury Secretary Scott Bessent on Thursday (local time) said that the European Union has 'officially joined' the US-led 'Operation Economic Outcast' against Iran, welcoming what he described as the bloc's strong and early stance in maintaining economic pressure on Tehran as the West Asia conflict continues.
US treasury secretary announces EU joining economic pressure campaign against Iran US Treasury Secretary Scott Bessent that the European Union has officially joined Washington’s economic pressure campaign against Iran. In a post on X, Bessent thanked the EU for its "strong and early stance" after joining Operation Economic Outcast. "The United States stands firm with our allies in ensuring the murderous Iranian regime cannot exploit the global financial system to fund its nuclear ambitions, weapons programs, and terror proxies," he added.
An economic forecast produced by Iran’s own government planners more than five years ago projected where continued sanctions would leave inflation and the national currency by 2026—and the numbers have proved strikingly accurate.
Washington DC [US], September 4 (ANI): US Vice President JD Vance on Thursday (local time) said that China is "willing to play ball" with Washington on efforts to economically isolate Iran, describing Beijing as "much more responsible" than Tehran despite differences between the United States and China.
Iran says oil industry circumventing US blockade Iran’s oil industry continues to find ways around a US military blockade of the country’s ports and vessels, Petroleum Minister Mohsen Paknejad told the Iranian Students News Agency (ISNA). “We are pursuing various strategies and have taken measures to overcome the blockade,” Paknejad said, describing the situation as difficult. He said US forces had attacked Kharg Island off Iran’s southwestern coast “more than 550 times” during the first 40 days of the conflict.
