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US sanctions firms over Iran oil exports to China ahead of Trump visit

May 11, 2026, 22:52 GMT+1

The United States on Monday imposed sanctions on three individuals and nine companies accused of helping Iran export oil to China, targeting networks based in Hong Kong, the United Arab Emirates and Oman.

The Treasury Department said the sanctions targeted individuals and entities involved in helping the Islamic Revolutionary Guard Corps sell and transport Iranian oil through a network of front companies.

Four of the sanctioned companies were based in Hong Kong, four in the UAE and one in Oman, according to the Treasury statement.

The move follows another round of sanctions announced Friday against individuals and firms accused of facilitating Iranian purchases of weapons and components used in drones and ballistic missiles.

The latest measures come days before President Donald Trump’s expected meeting with Chinese leader Xi Jinping, where Iran is expected to be a major topic of discussion alongside efforts to reopen the Strait of Hormuz and reduce tensions in the region.

Washington has repeatedly accused Beijing of enabling Iranian oil exports despite sanctions, while China has remained one of the main buyers of Iranian crude throughout the conflict and subsequent blockade crisis.

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As Iran’s economy sinks, hardliners turn to conspiracy

May 11, 2026, 22:10 GMT+1
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Behrouz Turani

As prices continue to soar across Iran, hardline clerics and pro-government figures are increasingly attempting to shift blame away from the state even as economic pressure deepens for ordinary citizens.

In Mashhad, firebrand Friday prayer leader Ahmad Alamolhoda claimed that “US Army infantry is responsible for rising prices.” He later said the remark was metaphorical, arguing that the war had triggered hyperinflation and that “profiteers and the main culprits behind rising prices are the US army’s infantry.”

Earlier in the week, Hossein Shariatmadari, editor of the hardline daily Kayhan, wrote that “rising prices and hoarding are the products of the enemy’s infiltration in the government.”

While Iran’s armed forces were “working miracles,” he argued, the economy had been left undefended, allowing enemies to undermine battlefield gains.

Shariatmadari, who for decades attacked previous administrations over inflation and economic mismanagement, remained notably quiet during the ultraconservative governments of Mahmoud Ahmadinejad and Ebrahim Raisi.

In 2024, he claimed rising prices had “nothing to do with the performance of the government or parliament,” describing inflation as part of a foreign conspiracy.

Last week, he questioned why parliament had stopped monitoring the government’s performance. Days later, lawmakers held an online session with Agriculture Minister Gholamreza Nouri Ghezeljeh to discuss food prices, a move widely mocked in Iranian media as ineffective and detached from public hardship.

While Alamolhoda urged Iranians to embrace a vague “jihadist economy,” Shariatmadari called on officials to confront an unspecified “economic mafia.”

Moderate outlets, however, framed the crisis differently. The daily Arman Melli argued on Sunday that the latest surge in prices could not be explained solely by wartime conditions, pointing instead to years of structural economic problems, rising state expenditures and populist policymaking.

The paper also called for “effective use of diplomacy” to end the conflict while safeguarding national interests, arguing that renewed negotiations could help stabilize the economy.

The reformist website Rouydad24 described a society undergoing “economic and psychological erosion,” where inflation was no longer an abstract statistic but a daily reality.

Families were removing meat from their diets, patients cutting medication in half and tenants being pushed toward cheaper outskirts of major cities.

Economic newspapers described parliament’s online session as “a bitter confession” that authorities were losing control of the situation, reflected in shrinking household budgets, disappearing essentials and rising public anxiety.

Despite government claims of wage increases of up to 60 percent for workers, many public employees say they have not received the raises. Unemployment is rising, layoffs are spreading and businesses are shutting down, while temporary contracts leave many workers with little protection against dismissal.

Iranian media now report complaints about living costs even among government supporters attending nightly demonstrations. Families that once lived modest but stable lives increasingly struggle to afford housing, medical treatment, tuition and other basic necessities.

Many workers say they are still earning salaries set years ago in an economy where prices change almost daily, leaving much of Iran’s working and middle classes crushed by relentless inflation.

UAE struck Iranian refinery in April attack - WSJ

May 11, 2026, 21:44 GMT+1

The United Arab Emirates has carried out military strikes on Iran including an attack on a refinery on Iran’s Lavan Island in the Persian Gulf in early April, The Wall Street Journal reported citing people familiar with the matter.

The attack sparked a large fire and knocked much of its capacity off line for months, prompting Iran to launch a barrage of missile and drone strikes against the UAE and Kuwait in response, the report said.

The US quietly welcomed the participation of the UAE and any other Persian Gulf states that want to join in the fight, one source told the WSJ.

US Treasury sanctions IRGC official already declared dead by Iran, Israel

May 11, 2026, 21:14 GMT+1

Mohammadreza Ashrafi Ghehi, one of the two Iranian officials sanctioned by the US Treasury on Monday, had already been declared dead by both Iran and the Israeli military.

In a press release, the Treasury said Ashrafi Ghehi, identified as the commercial chief of the IRGC’s oil headquarters, was sanctioned along with another official and nine entities “for their roles enabling the Islamic Revolutionary Guard Corps’ (IRGC) sale and shipment of Iranian oil to the People’s Republic of China.”

The Treasury said Ashrafi Ghehi had “communicated with Haokun Energy regarding unresolved debts owed to the IRGC.”

However, the Israeli military announced in April that Ashrafi Ghehi was killed in an Israeli airstrike in Tehran on April 3. Iranian state media later published photos from his funeral, held on April 10.

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Trump leaning toward resuming Iran war, officials tell Israel's Channel 12

May 11, 2026, 21:01 GMT+1

US President Donald Trump is increasingly inclined to order a resumption of military operations against Iran in some form because of frustration with Tehran’s conduct in negotiations, Israel's Channel 12 reported citing US officials.

One administration official was quoted as saying, “Trump is going to hit them a bit.”

Another senior official said, “We wanted an agreement, but now everyone understands where this is heading.”

Officials talking to Channel 12 said Trump had hoped to reach a deal but was surprised that Iran was unwilling to meet his demands, bringing the military option back to the forefront.

The report said Vice President JD Vance and envoy Steve Witkoff met Trump today to discuss next steps. Before the meeting, Trump said the ceasefire was “dying.”

The article added that the White House now believes Iran’s response does not allow for the hoped-for progress, and that the aim of renewed military action would be to pressure Tehran into making concessions.

Pakistan let Iran park military aircraft on airfields - CBS News

May 11, 2026, 20:49 GMT+1

Pakistan allowed Iranian military aircraft to park on its airfields, potentially shielding them from American airstrikes, while serving as a diplomatic conduit between Tehran and Washington, CBS News reported, citing unnamed US officials.

Iran sent multiple aircraft to Pakistan’s Nur Khan Air Base, including an Iranian Air Force RC-130 reconnaissance and intelligence-gathering aircraft, days after President Donald Trump announced a ceasefire with Iran in early April, the report adding, citing the officials.

A senior Pakistani official rejected the claim, with CBS News quoting the official as saying: “Nur Khan base is right in the heart of (the) city, a large fleet of aircrafts parked there can’t be hidden from [the] public eye.”

Iran also sent civilian aircraft to Afghanistan, though it was not clear if military aircraft were among them, the report said.

CBS News quoted an Afghan civil aviation officer as saying one Mahan Air civilian aircraft had remained in Afghanistan, while Taliban spokesman Zabihullah Mujahid denied the presence of any Iranian aircraft in the country.