US-Iran Economic Pressure: Trump announced a “most crushing economic operation” or “Economic D-Day,” warning any country that offers Iran a “lifeline” via finance, airports, businesses, or shipping could face “tremendous” consequences, while calling for an end to oil smuggling, swap deals, cash transfers, exchange houses, ship registries, and front companies. UAE Cuts Off Iran: The UAE suspended all trade and financial ties with Iran after renewed missile threats, tightening a key re-export and sanctions-bypass route. Hormuz Shipping Under Strain: Oil markets stayed supported as investors weighed Strait of Hormuz risk; reports say the US quietly set up a protected southern shipping corridor near Oman to keep tankers moving, while Iran says Hormuz remains closed until US conditions are met. Oil Prices & Tanker Costs: Brent pushed above $92 for a fifth straight session as Middle East supply worries and higher tanker demand lifted freight and vessel prices to record levels. Regional Ripples: China urged diplomacy over sanctions, and Huthis claimed attacks on Saudi oil tankers, adding to maritime uncertainty. Energy Finance in Iraq: EBRD approved up to $75m in trade financing for Iraq’s Al Mansour Bank to ease import/export payment frictions. Saudi-Japan Maritime Assurance: Saudi and Japan stressed keeping Hormuz navigation free and safe without extra costs.