World roundup Highlights: US sanctions Dubai crypto exchange over alleged Iran links

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The United States on Friday imposed sanctions on Dubai-based cryptocurrency exchange Shelbit, accusing it of processing millions of dollars in digital assets for Iran's elite Islamic Revolutionary Guard Corps (IRGC) and other entities linked to the Iranian government.

The move comes days after a Reuters investigation identified Shelbit as the centre of an alleged $4 billion sanctions-evasion network that helped move cryptocurrency for Iran's central bank, one of the world's largest illegal online gambling operations and wallets linked by Israeli authorities to the IRGC.

The US Treasury also sanctioned Siavash Kayvanpour, the Iranian founder of Shelbit, along with several associated companies. Treasury alleged that Kayvanpour provided material support to both the IRGC and Nobitex, Iran's largest cryptocurrency exchange, which the US sanctioned in June after another Reuters investigation found it had helped Tehran bypass Western sanctions.

"Treasury will hunt down and dismantle the illicit financial networks that keep the regime afloat," US Treasury Secretary Scott Bessent said in a statement.

Reuters investigation triggered scrutiny

Reuters reported that although Shelbit's public website had remained offline for months, preventing customers from carrying out transactions, the exchange continued processing cryptocurrency transfers, including during the recent US-Israel conflict with Iran. The website became active again a day after Reuters published its investigation on July 31.

On its reactivated website, Shelbit denied any wrongdoing.

"Shelbit LLC categorically rejects any suggestion that the company knowingly participated in money laundering, terrorist financing, illegal gambling activity, sanctions evasion, or activity on behalf of any sanctioned, military, or governmental organisation," the company said. It also claimed it had ceased operations in January 2026.

Neither Shelbit nor Kayvanpour immediately responded to Reuters' requests for comment following the US sanctions.

Links to bitcoin mining and gambling network

According to Reuters, tens of millions of dollars processed through Shelbit originated from a suspected Iranian bitcoin mining operation, while millions more were linked to an illegal online gambling network allegedly operated by two prominent Iranian social media influencers.

In announcing the sanctions, the Treasury Department said the Iranian government's willingness to allow the gambling operation to continue reflected the regime's "hypocrisy and corruption."

UAE regulator had also flagged exchange

The sanctions come shortly after Dubai's Virtual Assets Regulatory Authority (VARA) said Shelbit had violated anti-money laundering and counter-terrorism financing regulations.

In a notice issued on July 24, VARA said the concerns extended beyond consumer protection and involved cross-border transactions that could affect the integrity of the UAE's financial system.

VARA did not respond to Reuters' request for comment.

A Houston-based biomedical engineer of Indian origin found herself at the centre of a viral misinformation campaign after social media users falsely accused her of visa fraud. US officials and advocacy groups later confirmed she is a naturalised US citizen and said the allegations were baseless.

Who is Sadhana Gollapudi?

According to her public Instagram profile, Sadhana Gollapudi works as a biomedical engineer and also performs as a Kuchipudi dancer. She lists Houston, Texas, as her home base and shares videos of her dance performances on her own YouTube channel.

The controversy began when an X account named Cyber Green falsely claimed that Gollapudi had lived in the US on an F-1 student visa since 2014, and accused her of breaking visa rules by working while enrolled in multiple academic programmes.

The post referred to her dance videos filmed outside her home and framed them as evidence of wrongdoing. It spread quickly, with thousands of users reposting the claim without verifying it. READ HERE

The US Federal Aviation Administration (FAA) has ordered inspections of hundreds of Boeing 737 Max aircraft after cracks were discovered in structural components of some older Boeing 737 planes, prompting precautionary checks across the Max fleet, CBS reported.

The airworthiness directive, issued on Thursday, covers certain Boeing 737 Max 8, 737 Max 9 and 737-8200 aircraft. The FAA said the move follows reports of cracks in the bear strap — a structural reinforcement around the forward service door near the aircraft's galley — on older-generation Boeing 737 aircraft.

The directive applies to 471 aircraft in the United States and 1,429 aircraft worldwide. The FAA clarified that no cracks have been detected on Boeing 737 Max aircraft so far, but inspections have been ordered to identify potential defects before they become a safety risk.

What are the cracks?

According to the FAA, the cracks were found in the bearing strap, a component designed to reinforce areas around aircraft doors and emergency exits. Repeated stress from thousands of take-offs and landings can cause fatigue cracks to develop near the corners of the door frame over time.

Boeing says issue first identified in 2019

Boeing said it first alerted operators of its 737 Next Generation (NG) aircraft about the issue in 2019 and issued detailed inspection procedures at the time.

The aircraft manufacturer added that although similar cracks have not been observed in the 737 Max fleet, it expanded the inspection programme to Max aircraft in 2024 because they share a similar structural design and manufacturing process with the earlier models.

Boeing said it is continuing to investigate the root cause of the cracking and is working on measures to prevent similar issues in future aircraft.

Airlines begin reviewing FAA directive

US carrier Southwest Airlines, one of the world's largest operators of Boeing 737 aircraft, said it is reviewing the FAA directive and will complete inspections according to the regulator's schedule.

United Airlines also said it does not expect any immediate disruption to operations, noting that inspections would be carried out during scheduled heavy maintenance checks. The airline added that its oldest 737 Max aircraft have not yet accumulated enough flight cycles to require immediate inspections under the FAA order.

Saudi Arabia, Turkey and Pakistan are set to sign a trilateral defence agreement in Jeddah on Friday, according to regional sources, marking a significant new security partnership as the Iran conflict reshapes strategic alliances across the Middle East, news agency Reuters reported.

The agreement, which follows nearly a year of negotiations first reported by Reuters in January, comes amid heightened regional tensions after the US-Israeli military campaign against Iran exposed security vulnerabilities in the Gulf and disrupted shipping through the Strait of Hormuz.

Turkish President Recep Tayyip Erdogan, Pakistani Prime Minister Shehbaz Sharif and Pakistan Army chief General Asim Munir are expected to meet Saudi Crown Prince Mohammed bin Salman in Jeddah for the signing ceremony.

A Turkish official confirmed

that the agreement would be signed, although details of the pact and the specific commitments expected from each country have not been disclosed.

The deal would bring together three influential Sunni-majority nations with significant military capabilities. Turkey is a NATO member with a growing defence industry, Saudi Arabia is the Gulf's largest military spender and a key US ally, while Pakistan is the world's only nuclear-armed Muslim-majority country.

The proposed agreement comes as countries across the region reassess their security arrangements following months of conflict involving Iran, the United States and Israel. The disruption to oil shipments through the Strait of Hormuz has further underscored the need for closer regional defence cooperation.

Turkish Foreign Minister Hakan Fidan had earlier said Ankara favoured creating a broader regional security framework to promote cooperation and stability.

Saudi Arabia and Pakistan already maintain close military ties. An existing bilateral defence agreement reportedly treats an attack on either country as an attack on both and allows cooperation using "all military means", according to a Saudi official cited by Reuters.

Neither the Pakistani government nor the military immediately commented on the new agreement. Saudi authorities also did not respond to Reuters' request for comment.