The U.S. Treasury Department has expanded Iran sanctions to encompass the automotive and railway sectors. The measures designate 30 individuals and entities, including trading firms based in China, the UAE, and Indonesia. Sanctioned targets face asset freezes within the United States and financial transaction bans.
A survey of 100 institutional investors managing $513 billion found that 56% expect the US and China to jointly lead global AI within five years. Conducted by Pureprofile for Robocap across eight markets including the UAE and China, the report notes closing gaps in patents, research graduates, and applied robotics. All surveyed investors also projected that the UAE and Saudi Arabia will make significant progress toward becoming global AI hubs.
The U.S. Treasury Department announced expanded sanctions under Operation Economic Outcast, designating Iran's rail and automotive sectors under Executive Order 13902. The measures penalize dozens of entities, including suppliers and financial intermediaries based in the UAE, China, Hong Kong, Turkey, and Germany. The action also targets heavy machinery, steel export channels, and the Russia-linked A7 shadow banking network.
Iraqi authorities have closed several border crossings with Iran, suspending passenger and commercial freight transit via the Al Sheeb crossing. An adviser to Prime Minister Ali Al Zaidi cited security breaches, smuggling, and unauthorized entries. The sudden closures prompted protests by lorry drivers in Maysan province.
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