New Delhi, May 1 (IANS) The US Navy’s blockade of Iran has built economic pressure on Tehran that continues even though the ceasefire has led to a temporary pause in fighting, according to a new report.The blockade has also hit China’s purchases of Iran’s oil, at discounted prices, deals for which were being carried out through a covert financial system and a fleet of ghost tankers.According to an article in Sky News Australia, Iran’s Islamic Revolutionary Guard Corps (IRGC) has sustained …
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Washington, April 23 (IANS) US Treasury Secretary Scott Bessent rejected claims that Iran has gained financially from sanctions relief, telling lawmakers the estimates were inaccurate and overstated.Testifying before a Senate panel, Bessent dismissed assertions that Tehran had received billions in additional revenue during the ongoing conflict.“The $14 billion is a myth,” he said, pushing back against criticism from lawmakers.The exchange came during questioning by Chris Coons, who argued th…
New Delhi, April 5 (IANS) With no end in sight to the ongoing conflict in West Asia, Gulf nations are intensifying efforts to reduce their reliance on the Strait of Hormuz, a vital transit chokepoint through which nearly 20 million barrels of oil pass daily, a report has said.Rising geopolitical risks and recent attacks on shipping have pushed long-discussed alternatives, including pipelines and overland corridors, closer to implementation.According to a report by the Financial Times, countries …