Author: M Barbu

The Central Bank of Iraq (CBI) revoked Bank Melli of Iran’s operating license on February 8, following increased U.S. pressure to untangle Iraq’s financial system from Iranian money laundering and sanctions evasion schemes. While this may appear to signal Iraq’s willingness to restrict Iranian access to Iraqi banks, the move is a symbolic gesture to appease the United States and is unlikely to significantly alter Iran’s ability to exploit Iraq’s financial system.

Iran’s so-called axis of resistance is a loose network of proxies, Tehran-backed militant groups, and an allied state actor.

The network is a key element of Tehran’s strategy of deterrence against perceived threats from the United States, regional rivals, and primarily Israel.

The American military said it believes it is the first time such an undersea weapon had been used in the current conflict in the Red Sea.

The United States struck five Houthi military targets, including an undersea drone, in Houthi-controlled areas of Yemen on Saturday, the U.S. military announced on Sunday.

The Iran-backed militants claim to have also shot down an American drone.

Yemen’s Houthi rebels shot down a U.S. drone and damaged a Belize-flagged, British cargo ship in their latest assault against commercial vessels, their spokesperson claimed Monday.

The downing of the Reaper drone is another escalation of violence between the United States and Iran-backed groups.

The Pentagon is investigating the cause of a crash of an American military surveillance drone off the coast of Yemen on Monday morning, two U.S. officials said.

A visit by the commander of Iran’s elite Quds Force to Baghdad has led to a pause in attacks on U.S. troops by Iran-aligned groups in Iraq, multiple Iranian and Iraqi sources told Reuters, saying it was a sign Tehran wants to prevent a broader conflict.

On February 9, 2024, the London-based Saudi daily Al-Sharq Al-Awsat published[1] a lengthy article reviewing activity of Iran-backed militias in Iraq since the start of the ongoing war in Gaza. This report is based on the article.