Iran's Supreme Leader Calls for Gulf Unity Amid Continued Strait of Hormuz Restrictions

Iran's Supreme Leader has urged Gulf rulers to confront their 'real enemy' as the Strait of Hormuz remains restricted amidst stalled diplomacy with the US. The ongoing Iran-US conflict continues to impact the global economy, leading to increased energy, transportation, and food costs. Iran has indicated that the implementation of a peace memorandum of understanding with the US, which includes transit arrangements through the Strait of Hormuz, is contingent on the US fulfilling its commitments. The US Treasury has also imposed curbs on an Egyptian bank for alleged links to Iran through its UAE branches.