July 5, 2023 - ISW PressPalestinian militants thanked Iran and the broader Axis of Resistance for their help during the recent Israel Defense Forces (IDF) raid in Jenin and likely will receive Iranian assistance to rebuild the military capabilities the IDF degraded.
Iranian officials inflated the amount of Iranian funds that a recent US sanctions waiver for Iraq will provide, possibly to inspire confidence in Iran’s economy and currency. News of similar waivers for Iraq has coincided with short-term improvements for the Iranian economy.
Iran became a member of the Shanghai Cooperation Organization on July 4, which may enable it to circumvent sanctions through non-US dollar financial transactions with other SCO countries. Iran could benefit militarily from its membership in the SCO through participation in counterterrorism and naval exercises.
Iran attempted to seize two US oil tankers in the Strait on July 5, likely to assert its control over the Strait of Hormuz given the recent US naval deployments to the Persian Gulf. Iran also likely sought to pressure the US to accede to Iran’s demands in the nuclear negotiations.