US-Iran Economic Pressure: The US Treasury escalated its “economic D-Day” by sanctioning an Emirates branch of Banque Misr UAE over alleged Iran-linked shadow banking, as Washington warns partners could face fallout for keeping trade ties with Tehran. Hormuz Diplomacy: Iran says it will reopen the Strait of Hormuz only if the US meets commitments in the Islamabad MoU; Oman and Qatar are also in the mix as shipping remains subdued. Energy Security & Costs: Pakistan is weighing steps to strengthen strategic fuel reserves and diversify supplies amid volatile global prices and maritime disruptions; meanwhile Punjab’s load-shedding worsened as the power shortfall topped 4,000MW. Refining Push: Petroleum minister met five refineries to move Brownfield upgradation deals worth about $6bn, targeting Euro-5 fuel output. Trade & Industry: NTC imposed anti-dumping duties on Chinese polyester filament yarn-DTY for five years; KATI plans to take part in Trade Expo Indonesia 2026 to boost B2B links. Policy for Consumers: DRAP was ordered to revise drug pricing rules and hardship provisions to curb unjustified medicine price hikes. Finance Watch: IMF mission is expected in September for EFF/RSF review; Bank of Punjab posted record 1H’26 results and declared a 16% interim dividend. Regional Stability: FM Ishaq Dar warned that any move to deprive Pakistan of Indus Waters Treaty allocations would have “profound consequences” for peace and security.