Policy & Legal Updates

US Warns Chinese Banks and Oil Buyers of Secondary Sanctions Over Iran Trade

The United States has threatened secondary sanctions against buyers of Iranian crude and confirmed warning letters were issued to two Chinese banks. U.S. Treasury Secretary Scott Bessent stated Washington anticipates a pause in Chinese crude purchases as an American naval blockade on Iran takes effect. The Treasury Department also placed new sanctions on more than two dozen individuals, entities, and vessels tied to Iranian oil transport.

Industry News

Abu Dhabi Approves Eight Sleep Smart Bed as Medical Device for Sleep Apnea

Eight Sleep announced that its smart bed technology has been approved as a medical device in Abu Dhabi to support the at-home diagnosis of obstructive sleep apnea. The regulatory clearance follows a Health Technology Assessment conducted by the Department of Health – Abu Dhabi. Physicians in the emirate can now prescribe the system to calculate Apnea-Hypopnea Index scores based on continuous at-home biometric monitoring.

Policy & Legal Updates

UAE FTA Launches AI-Powered Digital Platform for Tourist VAT Refunds

The UAE Federal Tax Authority, in collaboration with Planet, has launched an artificial intelligence-powered digital platform for tourist Value Added Tax (VAT) refunds. Operational across major airports in Dubai, Abu Dhabi, and Sharjah, the paperless system uses facial recognition to process claims. The upgrade reduces tourist refund distribution times from roughly nine days to one business day.

Industry News

Iran Reports Supertanker Exploded After Striking Mine South of Hormuz Strait

Iran's Islamic Revolutionary Guard Corps Navy reported that a supertanker carrying over two million barrels of crude oil exploded and caught fire after striking a naval mine south of the Strait of Hormuz. Iranian authorities claimed the vessel had switched off its navigation systems and traversed an unauthorized route, while releasing no details regarding the vessel's identity, flag, or crew casualties. The reported incident highlights escalating maritime risks across the primary transit chokepoint for Gulf energy shipments.