The Morning Risk Report highlights an Iranian airline favored by the regime that is defying international sanctions. The Wall Street Journal US Business reports that despite sanctions targeting Iran’s aviation sector, the airline continues operations, raising concerns about enforcement and regime resilience. Additionally, shipping powers warn that free seas are under threat due to geopolitical tensions, and Europe has issued new trade bans on Israel, further complicating global trade dynamics.

These developments underscore growing risks in maritime and aviation sectors amid shifting geopolitical alignments.