HSBC, Standard Chartered and other banks are said to temporarily suspend transactions in the Persian Gulf. Some banks are considering shifting towards markets with more stable risks.

According to informed sources, several global banks including HSBC and Standard Chartered have notified some Middle Eastern clients that several transactions involving Asian balance sheets will be temporarily delayed. Some banks from Japan, Greater China, and Singapore are also evaluating their pending projects and existing risk exposures. Some companies are considering shifting their focus to other markets, including South Korea and Australia, where the risks are currently more stable. Another source pointed out that a large Singaporean bank has put on hold its expansion plans in the Middle East originally scheduled for 2026. The bank's Hong Kong team had met with clients in Dubai in February, but they have now been instructed to suspend further discussions.