Latest News, Updates & Breaking Headlines
With a sanctions waiver in place, India has in the last two months aggressively stepped up purchases of Russian crude oil. (AI image) In a U-turn on its earlier decision, the Donald Trump administration has extended the sanctions waiver on purchase of Russian crude oil at sea. The move comes two days after the earlier…
The US Treasury Department on Monday said it had reached a $275 million settlement with Adani Enterprises over the company’s potential civil liability linked to 32 apparent violations of US sanctions involving Iran, according to a Reuters report.The US Treasury’s Office of Foreign Assets Control (OFAC) said Adani Enterprises had purchased shipments of liquefied petroleum…
With waiver lapsing, flows are likely to remain broadly stable, although they could ease modestly from March levels. (AI image) The Donald Trump administration may have allowed the sanctions waiver on Russian crude to expire on May 16, but India has made it clear that it will continue to procure oil from Moscow. The sanctions…
NEW DELHI: External Affairs Minister S Jaishankar on Thursday took a veiled swipe at the US over its sanctions-led foreign policy, cautioning against “unilateral coercive measures” as India voiced concern over the worsening West Asia crisis and its fallout on global energy and trade routes.Speaking at the opening session of the BRICS foreign ministers’ conclave,…
The United States and the United Kingdom on Monday announced seperate sanctions aimed at increasing pressure on Iran by targeting individuals, companies and networks accused of facilitating oil sales, financial transactions and “hostile activities”.The US measures focus on disrupting Iran’s oil exports to China and cutting off funding linked to the Islamic Revolutionary Guard Corps,…
India has reportedly turned down Russia’s offer to sell liquefied natural gas (LNG) cargoes that are under US sanctions, despite rising energy concerns linked to tensions in the Middle East.The decision has left at least one Russia-linked LNG shipment stranded near Singapore while discussions continue over what supplies India can legally purchase.According to a Reuters…
The United States on Friday imposed sanctions on 10 individuals and companies, including entities based in China and Hong Kong, accusing them of helping Iran procure weapons components and raw materials used in its Shahed drones and ballistic missile programme.The sanctions, announced by the US Treasury Department, come days before US President Donald Trump is…
Meanwhile, the US Treasury Secretary Scott Bessent said that America had sent warning letters to two Chinese banks. (AI image) Amid Trump’s sanctions, China’s financial regulator has reportedly instructed the country’s biggest banks to temporarily halt fresh lending to five refineries that have been targeted by recent US sanctions over their links to Iranian crude…
The United States has warned shipping companies that they could face sanctions if they make payments to Iran for safe passage through the Strait of Hormuz. The alert, issued Friday by the US office of foreign assets control, comes amid rising tensions over control of the strategic waterway.The Strait of Hormuz, through which about a…
Hengli represents a far more significant target. It is one of China’s most advanced private refiners. (AI image) The Donald Trump administration’s step to sanction one of China’s largest privately owned refiners over its links to Iran will have implications beyond oil! China has for years remained the largest buyer of Iranian crude, much of…
