Washington, July 9 (IANS) The global economy has remained resilient despite the economic shock triggered by the Middle East conflict, with artificial intelligence-led investment and productivity gains helping offset the impact of higher energy and commodity prices, the International Monetary Fund (IMF) said on Thursday, while cautioning that uncertainty remains exceptionally high.Speaking at the IMF’s regular press briefing, Julie Kozack, Director of the IMF’s Communications Department, said the…
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Washington, June 12 (IANS) US President Donald Trump claimed the United States had secretly conducted military operations in and around the Strait of Hormuz for weeks, moving ships and oil cargoes through the strategic waterway while targeting Iranian maritime assets ahead of a proposed agreement with Tehran.Speaking at the White House, Trump said the operations had taken place largely out of public view and helped maintain the flow of global energy supplies despite heightened tensions in the Gu…
Washington, June 2 (IANS) US President Donald Trump said that he was unconcerned about reports that Iran may halt negotiations with Washington, arguing that Tehran had taken too long in the talks and insisting that preventing Iran from obtaining a nuclear weapon remained his overriding objective.In a phone interview with CNBC’s senior Washington correspondent Eamon Javers, Trump dismissed suggestions that a breakdown in negotiations would significantly alter his approach, even as oil markets rea…
Washington, May 27 (IANS) President Donald Trump on Wednesday said Iran was making progress in negotiations with the United States but warned military action remained an option, as concerns mounted over oil prices and tensions around the Strait of Hormuz. Speaking during a Cabinet meeting at the White House, Trump said the administration’s central objective remained preventing Iran from acquiring a nuclear weapon.“Iran cannot have a nuclear weapon,” Trump said. “I’m doing that for the …
Seoul, May 26 (IANS) South Korea is taking a cautious approach with the timing of its oil stockpile release under the agreement among International Energy Agency (IEA) members amid concerns there could be a global oil crisis in August, an industry ministry official said on Tuesday.Earlier this year, Seoul pledged to release 22.46 million barrels of oil from its strategic reserves by June 9 under a joint plan adopted by 32 member nations of the IEA as part of efforts to help address disruptions i…
Washington, March 7 (IANS) US Treasury Secretary Scott Bessent indicated that Washington could temporarily ease some restrictions on Russian oil supplies and allow India to continue purchasing to stabilize global energy markets during the ongoing Middle East conflict.In an interview with Fox Business, Bessent said the United States had already allowed India some flexibility as global supply disruptions pushed prices higher.“The Indians had been very good actors. We had asked them to stop buyin…