Washington, April 16 (IANS) The Trump administration has intensified its economic campaign against Iran, warning of tougher sanctions, including secondary penalties on countries and banks dealing with Iranian oil, as part of what officials described as a broader strategy combining financial and geopolitical pressure. US Treasury Secretary Scott Bessent said Washington was escalating its financial offensive against Iran under what he described as “Operation Economic Fury.”“For over a year, …
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New Delhi, April 8 (IANS) India’s former Ambassador to China Ashok K. Kantha on Wednesday termed the two-week ceasefire agreement by the US and Iran as “ambiguous”, though he also expressed optimism by calling it a “window of opportunity”.Speaking to IANS, Kantha cautioned that the ceasefire is not a full-fledged understanding. “It is a 14-day de-escalation. Lot of issues remain to be resolved. At this stage, Israel and the USA on one side and Iran on the other, will make contradictory claims,” …
Washington, March 21 (IANS) The United States has announced a 30-day sanctions waiver permitting the sale of Iranian oil currently stranded at sea, in a move aimed at easing mounting pressure on global energy supplies triggered by the ongoing conflict with Iran.Taking to X, US Treasury Secretary Scott Bessent said the decision is intended to quickly stabilise global markets by unlocking already available oil supplies.“By temporarily unlocking this existing supply for the world, the United Stat…
Mumbai, March 20 (IANS) The Indian rupee dropped to a record low on Friday to 93.12 against the US dollar, amid global supply chain disruptions due to escalating Middle East conflict.The domestic currency fell 0.55 per cent to 93.12, eclipsing its previous low of 92.63 on Wednesday.The rupee has depreciated nearly 2 per cent since the West Asia tensions began.According to experts, the USD/INR pair is trading above the 92.8 level, indicating continued pressure on the rupee amid elevated crude pri…
Washington, March 20 (IANS) Rising costs of the Iran war and its impact on global markets are deepening divisions in Congress, with Republicans and Democrats questioning the scale and purpose of a proposed funding request that could exceed $200 billion, according to multiple US media reports.The White House is preparing to seek massive new funding for the conflict, even as scepticism grows within President Donald Trump’s own party over the lack of a clear strategy and timeline, CNN reported. L…
Washington, March 19 (IANS) The United States is considering a series of emergency energy measures, including releasing more crude from its strategic reserves and easing restrictions on Iranian oil, as the White House moves to contain rising prices after fresh disruptions in global supply. Treasury Secretary Scott Bessent, in separate interviews with Bloomberg and Fox News, said the administration had prepared contingency plans in advance of potential chokepoints in global oil flows, particul…