Geopolitical events
On September 29, 2026, the United States Department of the Treasury announced targeted sanctions against ten individuals and entities across Iran, Hong Kong, and Pakistan under the administration's "Operation Economic Outcast" initiative. The macroeconomic and financial penalties target key procurement and financial networks supporting Iran's Ministry of Defense and Armed Forces Logistics. U.S. Treasury Secretary Scott Bessent stated that the action aims to sever critical capital flows and degrade Iran's military supply chains amid the ongoing armed conflict. The measures escalated macroeconomic strains on Tehran, where the Iranian rial tumbled to a record low exceeding 2.5 million rials per U.S. dollar under the cumulative pressure of sanctions and naval blockade measures.