Sep 29, 2026
The US Treasury sanctioned Iranian cryptocurrency exchange BitBank, accusing it of processing hundreds of millions of dollars in bitcoin for Iran's Islamic Revolutionary Guard Corps and facilitating payments for ships transiting the Strait of Hormuz.
US Central Command struck three Iranian crude oil carriers, including one near Kharg Island, after Iran's Islamic Revolutionary Guard Corps launched ballistic missiles at two US Navy warships. The Pentagon warned it would destroy Iran's oil export capabilities if necessary.
The Treasury Department sanctioned two Iranian cryptocurrency exchanges, Shelbit and Aban Tether, for facilitating transactions for the Islamic Revolutionary Guard Corps. TRM Labs reports Shelbit handled over $6.3 billion in transactions between May 2024 and March 2026.
Kuwait arrested four men it says were Iranian Revolutionary Guard members who attempted an armed infiltration of Bubiyan Island on May 1, arriving by fishing boat and exchanging fire with Kuwaiti soldiers. Iran denies the allegations, claiming the individuals were on maritime patrol and entered Kuwaiti waters due to navigation system malfunction.
The US Treasury sanctioned 12 entities for facilitating Iran's Islamic Revolutionary Guard Corps oil sales to China, warning of potential secondary sanctions on foreign financial institutions, including those connected to China's independent oil refineries.
Iran's Islamic Revolutionary Guard Corps navy issued a new map on Monday delineating areas of the Strait of Hormuz under its control, according to state media, as shipping through the critical waterway remains at a standstill.