Sanctions Shockwave: US Treasury Secretary Scott Bessent launched “Operation Economic Outcast,” warning countries and companies to cut ties with Iran or be pushed out of the dollar system, with new measures aimed at Iran’s financial lifelines across digital assets, technology, gold, aviation and shipping. Iran Under Pressure: Hours before the announcement, Iran’s rial hit a record low on the open market, while Tehran vowed retaliation and said any country joining the US “economic onslaught” would face consequences. Global Ripples: Markets watched as oil steadied after earlier drops and the dollar wobbled on fears of wider fallout; analysts flagged China’s role as the biggest buyer of Iranian oil and warned US pressure could collide with Beijing ahead of Trump-Xi talks. Hormuz Flashpoint: Iran blacklisted dozens of tankers and warned of fines, detention and cargo confiscation for Strait of Hormuz rule violators, raising the stakes for shipping through the key waterway. Regional Diplomacy & Security: Saudi Arabia and France backed Palestinian statehood and urged Israel to withdraw from Lebanon, while Greece moved Patriot missiles back to Crete after fresh Iran threats. Turkey-Qatar Trade: Türkiye and Qatar set a target of $5B in bilateral trade, citing logistics strain from Strait of Hormuz disruptions. Israel-Iran Escalation: Netanyahu claimed Iran tried to assassinate one of his sons, without details, as Iran’s state media also aired a $10m bounty threat targeting Barron Trump.