Middle East
UAE secures stake in Trump crypto firm ahead of major AI chip deal
The Wall Street Journal (WSJ) has reported that the United Arab Emirates (UAE) signed a $500 million investment deal with US President Donald Trump’s cryptocurrency venture, World Liberty Financial.
According to the report published on February 1, the agreement was finalized just four days before Trump’s inauguration in January. Under the terms of the deal, the UAE acquired a 49% stake in the company.
Within weeks of the agreement being signed, the Trump administration reportedly lifted a ban on the sale of advanced artificial intelligence chips to the UAE.
$187 million paid to Trump family
Citing company documents and sources familiar with the matter, the report states that half of the $500 million investment was paid upfront.
Of this amount, companies linked to the Trump family received $187 million, while entities associated with Steve Witkoff, a co-founder of World Liberty Financial, received $31 million.
Witkoff, a New York real estate investor and a close confidant of Trump, was appointed by the president as a special envoy. In this capacity, he was tasked with overseeing negotiations with Russia regarding the war in Ukraine and discussions with Israel concerning Gaza.
The WSJ noted that the investment agreement was signed by the president’s son, Eric Trump.
US commitment for 500,000 chips
The WSJ further revealed that only months after the investment deal, the US administration committed to providing the UAE with access to approximately 500,000 advanced AI chips annually.
This volume is reportedly sufficient to power one of the world’s largest AI data center clusters.
Previously, the Joe Biden administration had imposed strict limitations on chip sales to the UAE due to the country’s close ties with China. Washington had expressed concerns that such technology could be transferred to Chinese hands through the UAE.
Trump’s decision paved the way for G42, an AI firm owned by UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan, to procure 100,000 chips every year. The move was reportedly made despite G42’s existing links to the sanctioned Chinese tech giant Huawei.
“Impression of the government being up for sale”
Sheikh Tahnoon bin Zayed Al Nahyan, a member of the UAE royal family, is cited as the primary figure behind the investment.
Tahnoon has long been known to lobby for access to advanced US AI chips. Following Trump’s return to office, Tahnoon reportedly held numerous meetings with Witkoff and other US officials, including a visit to the White House in March.
The deal has sparked significant ethical debates in Washington. The WSJ described the situation as “unprecedented in American politics: a foreign government official taking a major ownership stake in the company of an incoming US president.”
Kathleen Clark, a law professor and former ethics legal counsel in Washington, stated that the investment “gives the appearance of a bribe.” She added, “This transaction serves as a high-level alarm that the federal government is effectively up for sale.”
Ty Cobb, a lawyer who served in the White House during Trump’s first term, argued that Trump’s conflicts of interest are far more extensive than those of any previous president.
“It’s like complaining about rowboats while B-52s are flying over your head,” Cobb remarked. “As an ethics lawyer, my advice would be clear: you do not do business deals with the families of foreign leaders. It pollutes American foreign policy.”
Connection between Binance and the pardon decision
In April, MGX, an investment firm managed by Tahnoon, announced a $2 billion investment in the cryptocurrency exchange Binance using World Liberty Financial’s stablecoin. This move reportedly provided World Liberty Financial with $2 billion in cash reserves.
The company reportedly uses these reserves to maintain the stablecoin’s one-to-one peg against the dollar. By investing the funds in US Treasury bonds, the firm earns approximately $80 million in annual interest.
In October, Trump granted a pardon to Binance founder Changpeng Zhao. Zhao had previously pleaded guilty to violating anti-money laundering regulations, a process that had led to Binance being banned in the US.
The pardon drew sharp criticism from Democratic lawmakers, some of whom accused Trump of “selling pardons to the highest bidder.” Zhao, who resides in Abu Dhabi and has obtained UAE citizenship, is known to be close to Sheikh Tahnoon and the UAE royal family.
Middle East
US submits draft IAEA resolution demanding immediate Iranian cooperation on enriched uranium
The United States has approached the Board of Governors of the International Atomic Energy Agency (IAEA) to determine the fate of Iran’s highly enriched uranium.
According to a report by Reuters, which cited diplomatic sources and obtained a draft resolution prepared by the US and presented to member states, Tehran is being called upon to provide the agency with precise and clear information regarding its nuclear material accounting and monitored nuclear facilities.
The text drafted by the US demands that the Tehran administration grant all necessary access permissions required to verify this information. The draft resolution emphasizes that Iran’s cooperation is a vital and urgent necessity, stating that the process must be executed without any delay.
The current draft does not yet include a referral to the United Nations Security Council (UNSC), which would typically be expected following an IAEA resolution declaring that Iran has violated its obligations under the Treaty on the Non-Proliferation of Nuclear Weapons (NPT). That violation decision was issued on June 12, 2025, one day before a 12-day war waged by the US and Israel against Iran last year. Diplomats speaking to Reuters indicated that the option of referring the matter to the UNSC remains under evaluation.
The Al Mayadeen television channel also reported, based on a copy of the draft resolution it obtained, that Washington is lobbying member states of the IAEA Board of Governors intensively to support its position.
These diplomatic moves coincide with a call from IAEA Director General Rafael Grossi for renewed engagement with Tehran. In his statement, Grossi said, “I call on Iran to work constructively with the agency to facilitate the full and effective implementation of safeguards in Iran. Re-engaging is of utmost importance.”
Reuters had previously reported in early June that the US was preparing a draft resolution to censure Iran at the upcoming IAEA meeting.
The Tehran administration continues to accuse the IAEA of systematically leaking sensitive and confidential information to Israel. At the end of the 12-day war last year, the US targeted Iran’s critical nuclear facilities and claimed to have destroyed Tehran’s entire nuclear program. However, intelligence assessments at the time revealed that Washington’s claims did not reflect reality.
Since those attacks, the IAEA has been requesting access to the struck nuclear facilities for inspection purposes. Iranian Foreign Minister Abbas Araqchi characterized the agency’s request last year as malicious.
In early April, Washington announced it had launched a rescue operation for a pilot downed in Iranian airspace. However, during the operation, US forces encountered stiff resistance from Iranian soldiers and, according to reports in the press, lost numerous aerial assets.
Following these developments, the Iranian Ministry of Foreign Affairs issued a statement suggesting that the military move conducted by the US under the guise of a pilot rescue operation may have been part of a deceptive and covert mission with the actual objective of stealing enriched uranium.
Middle East
IAEA reports no major change in Iran nuclear assessment despite three months of conflict
The International Atomic Energy Agency (IAEA) reported no major changes in its assessments of Iran’s nuclear program since clashes between the US, Israel, and Iran began approximately three months ago, according to a report sent to United Nations (UN) member states on Thursday.
The confidential report, reviewed by the Reuters news agency ahead of next week’s meeting of the IAEA’s 35-nation Board of Governors, revealed very few differences compared to previous reports prepared before the conflict began.
In the report, the agency reiterated its call for Iranian officials to provide updated information on the status of their enriched uranium stockpiles.
According to Reuters, the report stated: “The Director General has stressed that the effective implementation of Iran’s Treaty on the Non-Proliferation of Nuclear Weapons (NPT) Safeguards Agreement is mandatory and urgent, and that this implementation cannot be suspended by Iran under any circumstances.”
Since Israel and the US bombed the nuclear installations for the first time last June, the UN nuclear watchdog has been unable to return to these sites, and Iran has not shared updated data regarding the status of its stockpiles.
“The issue of the Agency losing continuity of knowledge regarding all previously declared nuclear material at the affected facilities in Iran needs to be addressed with extreme urgency,” the confidential report warned, referring to the sites affected by the US and Israeli bombardments.
Iran’s nuclear program became one of the primary triggers of the conflict, with the Trump administration asserting that Iran posed an “imminent nuclear threat.”
The issue also represents one of the greatest impasses in the recent round of negotiations aimed at ending the conflict.
Nevertheless, both sides have reached a tentative agreement to extend the delicate ceasefire in the three-month conflict for an additional 60 days, reopen the Strait of Hormuz to transit, and establish a framework mechanism for comprehensive talks on the future of Iran’s nuclear program and stockpiles.
However, this emerging memorandum of understanding still awaits approval from President Donald Trump and Iranian leaders.
According to a report by The Associated Press, US Secretary of State Marco Rubio painted an optimistic picture of the talks between the US and Iran during his testimony on Tuesday before the Senate Foreign Relations Committee and the House Appropriations Subcommittee.
“Just a month ago, they agreed to negotiate certain aspects of their nuclear program that a year ago they refused to even mention,” Rubio told senators, later adding that instability within the Iranian leadership has complicated the talks.
Meanwhile, US Vice President JD Vance noted last Thursday that negotiators continue to exchange proposals on certain terms of the agreement, including Iran’s nuclear capacity.
Middle East
Qatar and UAE LNG tankers go dark in Strait of Hormuz to evade security risks
Qatar and United Arab Emirates liquefied natural gas (LNG) tankers are turning off their transponders in the Strait of Hormuz, shifting their logistical strategies in response to ongoing military conflict in the Middle East and the closure of the strategic waterway.
According to a Bloomberg report citing industry sources and vessel-tracking data, as time and patience run thin for both nations, tankers have begun operating under radio silence to conceal their movements and secure their LNG shipments.
The report noted that neither Qatar nor Abu Dhabi, the federal emirate of the UAE, is subject to international sanctions. Despite this, state-owned QatarEnergy and Abu Dhabi National Oil Co. (ADNOC) are employing these “going dark” tactics to minimize security risks for their vessels and crews transiting the Strait of Hormuz.
Vessel-tracking data revealed that in May, at least four Qatari LNG vessels and four tankers linked to Abu Dhabi-based ADNOC transited the Strait of Hormuz without transmitting tracking signals. Sources speaking to Bloomberg stated that Qatari authorities requested captains of state-owned and chartered tankers to turn off their Automatic Identification System (AIS) transponders when navigating around the Ras Laffan port—the world’s largest LNG export terminal—as well as when transiting or exiting the Persian Gulf.
The implemented security measures extend beyond turning off transponders. Sources reported that vessels have been instructed to transit the gulf in pairs to enhance security, and tanker captains who refused to comply with the “shadow” navigation protocols have been replaced.
Industry sources speaking to Bloomberg warned that the increase in covert transits undermines the fundamental rules of international maritime trade and transforms these shipping routes into high-risk areas.
They emphasized that until recently, every cargo in the LNG sector could be tracked in real time, but these newly adopted tactics have eliminated that transparency.
Saul Kavonic, a senior energy analyst at energy consultancy MST Marquee, commented on the situation, saying: “It is entirely natural for Persian Gulf LNG producers to try to avoid Iranian attacks and consequently adopt shadow fleet methods. This could persist as long as Iran continues to control and threaten transits through the Strait of Hormuz. This practice may continue for a long time even after a peace agreement is signed.”
Following the start of US and Israeli attacks on Iran, the Tehran government closed the Strait of Hormuz, a choke point for approximately 20% of global oil shipments and 30% of global liquefied natural gas.
After negotiations in Islamabad failed, US President Donald Trump announced on April 13 that he would impose a blockade on Iranian ports. In late May, he announced that the blockade was lifted as part of the planned peace treaty process with Tehran.
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