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Massive $4 billion Iranian sanctions evasion network uncovered behind illegal gambling and crypto scheme

A Reuters investigation has exposed a massive Iranian sanctions evasion network operating through a Dubai-based, unlicensed cryptocurrency exchange named Shelbit.

The exchange has processed over $4 billion since May 2024, serving as a critical financial hub that links a Farsi-language illegal gambling network of over 2,000 websites, Iran’s central bank, state-backed bitcoin mining operations, and entities tied to the Islamic Revolutionary Guard Corps (IRGC).

Despite strict prohibitions against gambling under Iranian law, the vast network utilises Iran’s central bank-regulated online payments system, allowing sanctioned entities and illicit networks direct access to global crypto markets and major international exchanges.

Fronted by prominent Iranian influencers Sasha Sobhani and Pooyan Mokhtari, who promote the gambling sites to millions of social media followers while flaunting lavish lifestyles abroad, the operation is considered one of the largest illegal gambling and sanctions evasion schemes ever identified.

Regulatory and law enforcement agencies have begun taking action against the network. Dubai’s Virtual Assets Regulatory Authority (VARA) issued a cease-and-desist order against Shelbit for anti-money laundering and counter-terrorism financing violations, while the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) confirmed it is actively investigating the network’s digital asset transactions.

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    Pakistan targets 90% clean electricity by 2035, says Awais Leghari

    Federal Minister for Power Awais Leghari outlined Pakistan’s long-term strategy to transform its electricity sector, setting an ambitious target of raising the share of clean energy in the national power mix to 90 percent by 2035. The announcement came during the Solar, Storage and Flexibility 2026 Conference, where the minister also highlighted key policy hurdles, including restrictions under Pakistan’s International Monetary Fund (IMF) programme that are delaying the introduction of a market-based electricity pricing mechanism. Speaking at the conference on Tuesday, Leghari said the government was pursuing a major shift in energy policy by moving away from a traditional generation-focused model towards a system centred on grid flexibility, energy security, battery storage and domestic manufacturing. He said the new approach is designed to reduce Pakistan’s dependence on imported fuels, shield consumers from volatile global energy prices and maximise the benefits of the country’s rapidly expanding solar sector. The minister said Pakistan has witnessed remarkable growth in rooftop solar installations, with nearly 38 gigawatts of distributed solar capacity now installed through private consumer investment. He described the rapid adoption of rooftop solar as one of the country’s biggest energy success stories but cautioned that it has also created new challenges for the national power system. According to Leghari, Pakistan generates significant amounts of electricity from solar energy during daylight hours, yet the absence of sufficient battery storage infrastructure prevents that surplus electricity from being utilised during evening peak demand. He stressed that without modern storage systems, the country would continue to struggle with balancing electricity supply and demand despite having abundant renewable energy resources. Referring to disruptions in Re-gasified Liquefied Natural Gas (RLNG) supplies earlier this year, the minister said the episode exposed Pakistan’s continued dependence on imported fuels. He noted that the interruption in fuel supplies led to electricity shortages and load shedding even though ample solar power was available during the daytime, highlighting the urgent need for large-scale energy storage. “Battery storage is no longer an optional technology—it has become a strategic national asset that is essential for ensuring Pakistan’s energy sovereignty,” Leghari said. He noted that clean energy sources, including hydropower, nuclear, wind and solar, currently contribute approximately 55 percent of Pakistan’s total electricity generation. However, he warned that achieving the government’s renewable energy targets would require significant investment in battery storage systems, transmission infrastructure and power market reforms. The minister emphasised that expanding renewable generation alone would not be sufficient unless supported by a modern electricity network capable of storing and transmitting clean energy efficiently. To support the country’s long-term energy transition, Leghari announced a three-point strategy. The plan includes expanding battery energy storage systems across the national grid, encouraging local battery manufacturing and assembly to reduce reliance on imports while creating employment opportunities, and introducing regulatory reforms aimed at providing long-term certainty and confidence for domestic and foreign investors. During a question-and-answer session following his address, the minister also disclosed that Pakistan’s commitments under the IMF programme currently limit the government’s ability to introduce a fully flexible, market-based electricity tariff system. He explained that the government has been in discussions with the IMF for several months regarding the introduction of a time-of-use tariff, under which electricity prices would vary according to the actual cost of power generation at different hours of the day. Such a system, he said, would encourage consumers to shift electricity consumption to off-peak periods, reduce pressure on the national grid and help integrate renewable energy more efficiently.

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    Pakistan keeps petrol and diesel prices unchanged …

    The Government of Pakistan has decided to keep petrol and diesel prices unchanged for the next two days after implementing fuel price increases over five consecutive days. The Petroleum Division of the Ministry of Energy issued an official notification confirming that current prices will remain in effect on July 26 and 27, 2026. According to the notification, the price of petrol will remain at Rs. 335.18 per litre, while high-speed diesel (HSD) will continue to be sold at Rs. 383.46 per litre during the two-day period. The decision comes after a series of recent adjustments to petroleum prices under the government’s revised pricing mechanism. Authorities said no further changes would be made during the specified period, providing temporary stability for consumers following multiple increases. The latest notification confirms that the existing fuel rates announced on July 25 will remain effective through July 27. Officials from the Petroleum Division stated that the move is in line with the government’s current fuel pricing policy. Just a day earlier, the government had raised petrol prices by Rs. 3.66 per litre and high-speed diesel prices by Rs. 4.80 per litre. Those increases followed another hike in which petrol became Rs. 4.40 per litre more expensive and diesel increased by Rs. 3.62 per litre. Before the latest revisions, petrol was priced at Rs. 331.52 per litre, while high-speed diesel was available at Rs. 378.66 per litre on July 24. The recent adjustments reflect ongoing fluctuations in petroleum pricing driven by changes in international oil markets and domestic pricing policies. Fuel prices play a significant role in Pakistan’s economy, influencing transportation costs, industrial production, and the prices of essential goods and services. Any increase or decrease in petroleum prices has a direct impact on businesses and household budgets across the country. The government’s decision to maintain current prices for two days is expected to provide short-term certainty for consumers and businesses. However, future revisions will continue to depend on global oil prices, exchange rate movements, and the government’s fuel pricing framework. Motorists and businesses are advised to follow official announcements from the Petroleum Division for any future changes in fuel prices. The current notification confirms that petrol and diesel rates will remain unchanged until the end of July 27, unless a new directive is issued by the government.

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    Martha Stewart row leaves Meghan Markle facing fresh backlash

    Meghan Markle continues to face intense media scrutiny following her return to England with Prince Harry. Much of the latest controversy stems from comments made by Martha Stewart. The lifestyle icon claimed Meghan discussed her recent trip at an LA dinner party. Stewart also made pointed remarks about Meghan’s career shift from actress to princess to lifestyle personality. The controversy prompted TalkTV host Kevin O’Sullivan to sit down with commentator Kinsey Schofield to unpack where the story likely originated. Schofield suggested Stewart may not have realised her comments would create problems for Meghan. She described the moment as appearing to be a genuine, unplanned remark from Stewart. According to Schofield, it seems more suspicious that an anonymous source later contacted People magazine specifically to dispute parts of the story. She questioned why someone claiming to have hosted the dinner party would rush to correct the narrative while insisting on staying anonymous. The timing and motive behind that pushback struck her as unusual. O’Sullivan added his own take, acknowledging much of this remains speculation rather than confirmed fact. Still, he said it’s hard to imagine anyone other than Meghan herself being invested enough to want the story corrected. He suggested Stewart likely is not preoccupied with Meghan at all, given her own established status. However, he believed she may feel mildly annoyed by someone stepping into territory she’s long considered her own. O’Sullivan pointed out that Stewart spent decades building her reputation around cooking and home economics expertise. He argued that reputation makes her uniquely qualified in the eyes of the public. He then referenced Meghan’s Netflix series, “With Love, Meghan,” suggesting it revealed gaps in her lifestyle expertise once viewers actually watched it. According to O’Sullivan, that contrast is likely what mildly irritates Stewart the most. The commentary adds another layer to the ongoing public discourse surrounding Meghan’s post-royal career and public image. With opinions sharply divided, the story shows no signs of fading from tabloid coverage anytime soon.

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    Pakistan’s ambassador presents credentials to Uzbek foreign minister

    Pakistan’s newly appointed Ambassador to Uzbekistan, Muhammad Mudassir Tipu, formally presented copies of his diplomatic credentials to Uzbek Foreign Minister Bakhtiyor Saidov in Tashkent. Describing the meeting as a distinct honor, Ambassador Tipu confirmed that both sides held constructive talks on bilateral cooperation. Foreign Minister Saidov highlighted that discussions focused on deepening the strategic partnership between the two nations, ensuring the implementation of high-level agreements, and expanding trade, investment, and interregional connectivity.

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    US imposes tariffs on Pakistan and more than 60 trading partners

    The United States has introduced a new round of tariffs on imports from more than 60 trading partners, including Pakistan, as part of a broader effort to strengthen measures against goods allegedly linked to forced labour. The new duties officially came into effect on July 24 and are expected to affect trade between the United States and a large number of countries. Under the latest policy, Pakistan has been placed in the group of countries whose exports to the United States will face a 10% tariff. The same tariff rate has also been imposed on imports from countries including India, Bangladesh, the United Kingdom, Canada, Argentina, Cambodia, Ecuador, El Salvador, Guatemala, Honduras, Indonesia, Jordan, Malaysia, Mexico, Sri Lanka and Trinidad and Tobago. Another group of 38 countries will face a 12.5% tariff on goods exported to the US under the same policy. The US administration said the decision was taken because these countries had failed to effectively prevent the import or production of goods allegedly made through forced labour. According to American officials, stronger enforcement of labour laws and better monitoring of supply chains are needed to stop products made under forced labour conditions from entering international markets. The new measures are part of President Donald Trump’s trade agenda, which focuses on using tariffs to address trade and labour-related concerns. The administration has introduced the tariffs under Section 301 of the US Trade Act, a legal provision that allows the United States to take trade action against countries it believes are engaging in unfair trade practices. The latest action follows a major legal setback earlier this year. In February 2026, the US Supreme Court blocked the implementation of an earlier tariff package introduced by the Trump administration. That policy had proposed additional duties ranging from 10% to 50% on imports from several countries. Following the court’s decision, the administration adopted a different legal mechanism to introduce the current tariffs. The decision has drawn criticism from several US trading partners. Australia and Brazil have described the new tariffs as unfair and said they will continue diplomatic efforts to have the measures withdrawn. Norway also rejected the allegations behind the tariffs, saying the decision was based on unsubstantiated claims. Despite the broad scope of the new policy, several important products have been excluded. The tariffs do not apply to imports of crude oil, natural gas, selected agricultural commodities and fertilisers. Goods that are already subject to separate Section 232 national security tariffs, including steel, aluminium, automobiles and copper, are also exempt from the latest duties.

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    Norway praises Pakistan’s role in US-Iran peace …

    Norway has praised Pakistan for playing an important and constructive role in efforts to promote dialogue between the United States and Iran amid rising tensions in the Middle East. The appreciation came during Norwegian Foreign Minister Espen Barth Eide’s visit to Islamabad, where he held talks with Deputy Prime Minister and Foreign Minister Ishaq Dar. The Norwegian foreign minister arrived in Pakistan on Thursday for a two-day visit, marking the first visit by a Norwegian foreign minister to the country in around a decade. During delegation-level discussions, Pakistan and Norway reviewed bilateral relations and discussed ways to expand cooperation in several areas, including trade, investment, climate change, renewable energy, maritime affairs and education. The two sides also discussed regional and international developments, with particular attention to the situation in the Middle East. Eide praised Pakistan’s diplomatic efforts during the recent US-Iran conflict. He specifically acknowledged the contributions of Prime Minister Shehbaz Sharif, Foreign Minister Ishaq Dar and Chief of Army Staff Field Marshal Syed Asim Munir in efforts aimed at promoting peace. The Norwegian foreign minister described the ongoing regional conflict as a serious threat to global peace and the international economy. He said Pakistan had taken an important step by engaging with the parties involved and facilitating dialogue. Eide also welcomed Pakistan’s role in hosting and facilitating talks in Islamabad. He said the country’s diplomatic engagement had strengthened its position on the international stage, particularly in peacebuilding efforts. Norway, he added, was prepared to support Pakistan wherever it could contribute to peace initiatives. He noted that Oslo had considerable experience in peace negotiations and maintained communication channels with both Tehran and Washington. The two countries also discussed maritime security and developments concerning the Strait of Hormuz. Eide said Norway’s experience as a major maritime nation could allow it to contribute constructively to discussions on international maritime law and regional maritime issues. Pakistan and Norway also agreed to strengthen economic and people-to-people ties. Eide said Norwegian companies were increasingly exploring opportunities in Pakistan, particularly in the energy and fertiliser sectors. He also highlighted the potential for greater economic cooperation involving Switzerland and Iceland. The Norwegian minister praised the Pakistani community in Norway, saying its integration into Norwegian society had played an important role in strengthening relations between the two countries. The Foreign Office said both sides expressed satisfaction with the friendly nature of Pakistan-Norway relations and agreed to expand cooperation in areas of mutual interest. The visit is also expected to build on recent high-level contacts between the two countries, including discussions between Dar and Eide earlier this year and a visit by Norway’s state secretary to Islamabad in May.

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