Iraqi banks used a U.S. Federal Reserve-managed system designed after the invasion of Iraq in 2003 to covertly transfer billions to Iran's Revolutionary Guard Corps (IRGC) and affiliated militias, according to a journalistic report. The special arrangement allowed Iraqi banks to use funds held at the U.S. Federal Reserve for international trade without disclosing who would receive the funds for each transaction. As a result, U.S. officials estimate that up to 80% of the $250 million in daily wire transfers through Iraqi banks were untraceable. A subsequent investigation by the Federal Reserve revealed that more than 24 Iraqi banks, including three operated by prominent financier Ali Ghulam (Iraqi Middle East Investment Bank, Al Ansari Islamic Bank, and Al Qabidh Islamic Bank), were involved in suspicious transfers. All of the banks have been banned from conducting transactions in dollars. 

Anonymous Western security officials said that Iran's Islamic Revolutionary Guard Corps (IRGC) is seeking assistance from two Chinese satellite companies to enhance its surveillance capabilities. According to the sources, IRGC personnel have held multiple exchanges with company officials from Chang Guang Satellite Technology Co. and MinoSpace Technology Co., both of which offer equipment that would help Iran improve its satellites. The parties have not concluded any formal agreements yet, however.

Iran displayed the Mohajer-10 long-range drone, a more advanced version of the Mohajer-6, at a defense exhibition in Moscow. According to Iranian media, the Mohajer-10 can carry a payload of 300 kg and remain in the air for up to 24 hours.

Iran shipped small amounts of crude oil to new destinations, including Bangladesh and Oman, in June and July 2024. Despite U.S. sanctions on its crude oil exports, Tehran's oil output in 2024 has exceeded 3.2 million barrels per day, a five-year high, while exports have stabilized around 1.5 million barrels per day.