This live blog follows the latest developments across the Middle East crisis, including regional diplomacy, maritime security, ceasefire negotiations, and economic fallout.
Catch up on Friday’s top developments here:
- Freedom flotilla announces new mission to Gaza
- Trump says Iran war is ‘small potatoes’ for US
- Iran’s Ghalibaf encourages regional security framework
- US sanctions Türkiye-based bank
- Pakistan FM Dar discusses global challenges with UN candidate
‘Facilitating Iran’s illicit financial activity carries serious consequences’: US State Department
Published: Sept 5, 2026 | 00:07 GMT | by Web Desk
The United States has said that any country facilitating “Iran’s illicit financial activity” would face serious consequences after imposing sanctions on Türkiye-based Golden Global Bank, marking the latest step in “Operation Economic Outcast,” the Department of State said in a statement.
“The United States remains committed to cutting off the Iranian regime’s access to the international financial system and the resources it uses to destabilize the region and threaten US interests and partners,” the statement said.
It said that the action sent a clear message to financial institutions worldwide: “Facilitating Iran’s illicit financial activity carries serious consequences.”
“This demonstrates the Trump Administration’s commitment to eliminating resources the regime uses to threaten regional stability, support terrorism, and advance its military capabilities,” the statement added.
The Department of State also said that Washington will “continue to use every diplomatic and economic tool at its disposal to isolate the Iranian regime until it abandons its support for terrorism and its destabilizing activities in the region.”
“We urge the international community to join this effort and ensure no institution serves as a financial lifeline for a regime that threatens peace and security,” it said.
Friday at a glance
Published: Sept 5, 2026 | 00:00 GMT | by Web Desk
US President Donald Trump has said that the “military conflict” against Iran was "small potatoes" for Washington, downplaying the crisis as “not a big thing.”
"A lot of people don't call it a war. I call it a military conflict because it's small potatoes for us. It's not a big thing. We did Venezuela, and we did this," Trump told reporters when asked about Vance's comments.
While talking about the security of the region, Iran’s Speaker Parliament Mohammad Ghalibaf said that “true stability” could only be achieved “through a new security architecture that is homegrown,” urging regional countries to take their security into “their own hands.”
Continuing with “Operation Economic Outcast,” US treasury department sanctioned Golden Türkiye-based Global Bank and its subsidiaries for allegedly aiding Iran’s government.
In a post on X, Treasury Secretary Scott Bessent said the Washington was “serious” about sanctioning financial institutions supporting the Iran.
Meanwhile, Pakistan Foreign Minister Ishaq Dar on Friday called on Ambassador Olara Otunnu, candidate for the position of Secretary-General of the United Nations, and exchanged views on the evolving global landscape and challenges facing the multilateral system.
Ambassador Otunnu also commended Pakistan’s diplomatic efforts for regional peace and stability.
For earlier developments, read our Sept 4 live blog here.