The Houthi supreme leader said on March 15 that the Houthis intend to target international shipping transiting the Indian Ocean and around the Cape of Good Hope.[59] This statement is likely aspirational given the current maximum range of Houthi weapon systems, which is roughly 2,200km.[60] Houthi military spokesperson Yahye Saree said that the expanded operation would target all Israel-associated commercial vessels traveling around the Cape of Good Hope.[61] The Houthi’s maximum weapon range is 2,200km, which encompasses only some parts of the shipping routes toward the Cape of Good Hope and Indian Ocean, suggesting that the supreme leader's statement is largely aspirational.[62] Vessel traffic through the Red Sea has declined by approximately 50% since January 2024 due to Houthi attacks in the Red Sea and Gulf of Aden.[63] The Cape of Good Hope has seen a 74% increase in traffic compared to 2023 after Houthi attacks forced ships to re-route from the Red Sea and Suez Canal.[64] The Houthis have not conducted an attack outside the Red Sea and Gulf of Aden since the announcement on March 15. Iran did target a vessel 200km off the Indian coast in the Indian Ocean on December 23.[65]
Iranian Supreme Leader Ali Khamenei acknowledged the Iranian government's shortcomings in “controlling inflation” and economic production during his Nowruz speech on March 20.[66] Khamenei announced “controlling inflation and” economic production as Iran's new year's slogan at the beginning of the last Persian calendar year in March 2023.[67] Khamenei stated on March 20, 2024 that the state of inflation and economic production in Iran is “relatively far from what we wanted.”[68] Khamenei said in a separate Nowruz message on March 20, 2024 that Iranians should not expect the regime to address “big issues” such as inflation and production growth “within a year.”[69] Khamenei also described the economy as Iran's “main weakness” and announced a new slogan, “a leap in [economic] production with [the] people's participation,” for the upcoming Persian calendar year.[70]
Iran's inflation rate is approximately 44 percent, according to Iranian media.[71] The actual inflation rate is likely higher given Iranian officials and media's tendency to fabricate economic statistics, however. Western and diaspora media recently reported that many Iranians refrained this year from buying goods that they normally would for Nowruz, such as new clothes and sweets, due to high prices.[72]
https://www.understandingwar.org/backgrounder/iran-update-march-20-2024
Iran Update, March 21, 2024
The US Treasury Office of Foreign Assets Control (OFAC) sanctioned three procurement networks across four different countries on March 20 for supporting Iran’s ballistic missile, nuclear, and defense programs.[63] OFAC sanctioned companies and individuals based in Germany, Oman, Turkey, and Iran.
https://www.understandingwar.org/backgrounder/russian-offensive-campaign-assessment-march-22-2024
Treasury Targets Multiple Procurement Networks Supporting Iran’s Proliferation-Sensitive Programs
https://home.treasury.gov/news/press-releases/jy2194