Policy & Legal Updates
US Iran Sanctions Campaign Strains China-Dubai Trade and Banking Compliance
US Treasury measures against Iran place an increasing investigative burden on foreign banks to monitor opaque cross-border transactions, including transfers disguised between Hong Kong and Dubai companies. Prior to the closure of the Strait of Hormuz, China bought an estimated 90% of Iran's oil exports, with trade largely settling in renminbi through shadow-banking channels. Secondary sanctions under Operation Economic Outcast threaten to cut non-compliant foreign institutions off from dollar clearing.
