INSEAD Day 4 - 728x90

Sanad posts record revenue

Growth driven by global demand for services.

Bank of Sharjah profit up 39%

Bank's total assets grow 10% to $14.4 billion.

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

US expands Iran sanctions as pressure campaign intensifies

Both countries warned of retaliation in case of attacks.
  • Washington also sanctioned an Iranian exchange house and associated individuals accused of facilitating billions of dollars in transactions.
  • Lebanese President Joseph Aoun, meanwhile, accused Iran of using Lebanon as a bargaining chip in negotiations with the United States.

Dubai, UAE — The United States imposed a fresh round of Iran-related sanctions on Friday, targeting a network accused of exporting liquefied petroleum gas (LPG) from Iran to South and East Asia through front companies and a so-called “shadow fleet” of tankers, as Washington stepped up pressure on Tehran amid ongoing tensions over its nuclear programme and regional security.

The US Treasury said the sanctions cover 12 entities, including companies based in the Marshall Islands, the United Arab Emirates and China, as well as several vessels allegedly involved in disguising Iranian LPG shipments as originating from Oman. Treasury officials said the network moved LPG worth hundreds of millions of dollars while helping Tehran evade existing sanctions.

The measures come as Washington continues to tighten economic pressure on Iran following the U.S.-Israeli military campaign launched against the country earlier this year. In a separate action, the United States also sanctioned an Iranian currency exchange house and individuals linked to it for allegedly facilitating billions of dollars in financial transactions for Tehran.

The sanctions coincided with other moves against Iran. U.S. forces boarded a tanker in the Indian Ocean overnight that had previously been sanctioned for transporting Iranian crude oil to China, according to the U.S. Indo-Pacific Command. The military said the operation targeted illicit maritime networks supporting Iran’s energy exports.

Diplomatic pressure is also mounting ahead of next week’s meeting of the International Atomic Energy Agency’s Board of Governors, where diplomats said Washington is preparing a draft resolution condemning Iran. The move could complicate efforts to extend a ceasefire framework that US and Iranian officials have been discussing as a precursor to broader negotiations on Tehran’s nuclear programme.

Iran has continued to reject US demands that it permanently forgo any path to developing a nuclear weapon, insisting its nuclear activities are peaceful. Meanwhile, reports said U.S. special envoy Steve Witkoff and Jared Kushner visited the Oak Ridge National Laboratory in Tennessee this week to consult nuclear experts who could play a role in future talks with Tehran.

Elsewhere, Lebanese President Joseph Aoun accused Iran of using Lebanon as a bargaining chip in negotiations with the United States and urged Tehran not to interfere in Lebanese affairs, while violence continued across the region. Lebanon’s health ministry said an Israeli strike in southern Lebanon killed at least five people, including a woman and an emergency worker.