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“China also remains the largest trading and economic partner of Iran, which was bombed by the U.S. and Israel on February 28, 2026.”

““China has provided significant economic, technological, and diplomatic support that has helped Iran mitigate international sanctions, sustain oil exports, and acquire dual-use technologies necessary for Iran’s drones, ballistic missiles, and other weapons.””

“Also unresolved is the question of US secondary sanctions targeting Iran's financiers,which would include Chinese banks.”

“OFAC said its settlement with the bank was tied to 475 apparent violations of sanctions programmes including those on Russia and Iran, narcotics, and global terrorism.”

“The Office of Foreign Assets Control (OFAC) also announced an $11.6 million settlement agreement over apparent violations of numerous sanctions programmes, including on Iran, Russia, narcotics and global terrorism.”

“The US Treasury Department said Tuesday that it’s imposing $1.2 billion in fines on Bank of America for allegedly violating anti-money laundering and sanctions laws.”

“… tanker-tracker websites, traffic through the key waterway has been steadily increasing, with some estimates putting oil and petroleum flow through the Strait of Hormuz at nearly 80 percent of what it was before the US-Israeli war on Iran began on February…”

“That is the difference between sanctions on paper and sanctions that bite.”

“Meanwhile, Iran appears to be running on fumes, according to US officials — who say the country is being “strangled” by the US Navy blockade that has locked out Iran’s ports and caused its trade to free fall.”

“For Labor, this bag of mixed fortunes is being turned into a bigger political liability by the combination of higher fuel prices caused by US President Donald Trump’s lingering war on Iran and his crackpot tariffs.”

“Already, the average nationwide price of diesel is up 70% since the U.S. and Israel attacked Iran on Feb. 28.”

“…meeting of the Group of 20 (G20) major economies, which the US leads this year, may frustrate counterparts amid rising tensions over the Iran war, Ukraine’s battle against Russia’s invasion, and the US move to impose sanctions on the International Criminal…”

“…alytics firm Kpler, the buyers included Rosneft, Russia’s state-controlled oil company, which is under UK, US, EU and Australian sanctions, and NNK, a Russian oil group whose owner, Eduard Khudainatov, and one of its companies, NNK-Oil, are under UK…”

“Iran's military insisted it retained full control of Hormuz and the foreign minister said the strait could reopen within seven days if Tehran's conditions were met, after US Treasury Secretary Bessent said Iran had not loaded a single barrel of crude onto…”

“In September, the US government also imposed sanctions on a digital assets firm, BitBank, that it said had been used by Iran’s Hormuz Safe Marine Services Authority — a body set up by the country’s government to collect fees for allowing the safe transit of…”

“But the deal is also a lucrative one for the buyers: US approval for the sale would release the assets from US sanctions, instantly increasing their value.”

“Not long ago, US authorities brought a criminal case against him for his management of Binance, a crypto exchange depicted in court papers as a haven for Russian money launderers, Iranian sanctions evaders and Islamic State terrorists.”

“However, prices are still headed for large monthly gains on lingering concern about supply disruptions during the US-Israeli war on Iran.”

“But a U.S. naval blockade on Iranian oil and new sanctions imposed since the start of the war have sent it into freefall.”

“Gold prices are falling as concerns of rising fuel prices stoke inflation worries on the back of the war between the United States and Iran.”

“So far, there’s been no material impact on the sharemarket from the spikes in yields and, apart from a brief sell-off when the US and Israel launched their attack on Iran in February, it has traded largely unaffected by the surge in oil prices above $US100 a…”

“Last week, top Iranian officials pushed for their seven-day ceasefire proposal in which they would open up the Strait of Hormuz in exchange for the US unfreezing roughly $12 billion in frozen assets, lifting the blockade and easing sanctions.”

“With no breakthrough in sight on ending the war launched by the US and Israel on Iran on February 28, Tehran is making adjustments to export oil and import essential goods.”

“Things have changed, however, since the start of the US-Israeli war on Iran in late February, and the subsequent end to the free flow of trade through the Strait of Hormuz, through which much of the country’s trade with the rest of the world passed.”