On July 25, Ukrainian drones struck two sanctioned cargo ships, the Port Olya 2 and the Begey, in the Caspian Sea. Kyiv says these vessels form the backbone of Iran’s military supply pipeline to Russia. One sailor was killed and another injured in the attack, which follows an earlier campaign against Caspian infrastructure in April 2026. Russia and Iran have been extensively using cryptocurrencies, particularly stablecoins like USDT, to finance drone acquisitions and bypass traditional banking channels blocked by international sanctions.
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