WEEKEND GEOPOLITICAL HEADLINES: US attacked missile launchers in Iran's Larak Island, while the IRGC warned of retaliation

US attacked two missile launchers of the IRGC in Iran's Larak Island on Sunday, which were said to be on standby to launch missiles with sea mines toward the Strait of Hormuz, while there were later reports of explosions heard near Larak Island. Iran’s Revolutionary Guards warned the US strike on Larak Island would be met with a response and punishment, while it said several soldiers and civilians were killed and wounded in the assault. Iran's President said on Friday that Iran is ready for cooperation and understanding with regional countries, including Saudi Arabia and the UAE, while it is to open its route if four commitments are met. He also stated that Iran is to increase gasoline prices, and that exports and imports have decreased by up to 35% because of US sanctions and the blockade. UAE’s central bank will investigate Banque Misr after the US Treasury Department moved to cut off the Egyptian bank’s UAE branches from the US financial system as part of sanctions against Iran.