Nuclear Talks Pressure: US Vice President JD Vance told Reuters Iran must make a “meaningful” reduction in nuclear enrichment to end the seven-month war, arguing 60% enriched fuel undermines any commitment to avoid a weapon. Sanctions & Finance: The US warned foreign banks to cut ties with Iran’s financial sector or face immediate sanctions, while Iran’s central bank said it has no foreign-currency problem after supplying $2bn to markets. Oil & Shipping Shock: Oil prices rose as storms threaten US Gulf supply and Yemen’s Houthis hit Saudi targets; meanwhile, Middle East crude shipments are recovering via costly “shuttle” operations as Hormuz and Bab al-Mandab risks persist. Hormuz Escalation: Iran-linked attacks on commercial vessels continued, and CENTCOM denied Iranian claims of a US Navy helicopter crash in the Red Sea. Regional Connectivity: Armenia’s TRIPP talks in Tehran highlighted Iran’s distrust of Washington and its push for economic links that preserve regional balance. US Domestic Fallout: Trump’s remarks that Iran could “take out” Los Angeles and San Diego sparked backlash in California, with Newsom calling for the 25th Amendment. Iran Economy Signals: Iran’s oil minister resigned amid blockade pressure, and analysts warn the war is draining global “supply cushion” and keeping energy markets fragile.