New Delhi, July 23 (IANS) Pakistan’s finance minister, Muhammad Aurangzeb, has requested the US Treasury Secretary Scott Bessent for a $10 billion Exchange Stabilisation Support Facility to bolster the country’s foreign exchange reserves and ease debt pressures, a new report has said.The report from India Blooms News Service cited a Dawn report that officials at Pakistan’s embassy in Washington confirmed Aurangzeb’s request in talks with US Treasury Secretary Scott Bessent but did not prov…
Latest US Treasury News & Updates
Washington, July 22 (IANS) The US Treasury’s financial intelligence unit has helped block nearly $2 billion in stolen proceeds linked to cyber-enabled fraud affecting more than 5,700 American individuals and businesses, its director told lawmakers.Andrea Gacki, director of the Financial Crimes Enforcement Network, or FinCEN, said the agency’s Rapid Response Programme works with US law enforcement and foreign partners to recover money sent overseas and return it to victims.“Since its incept…
Tehran, July 8 (IANS) Iran on Wednesday strongly condemned the United States’ decision to revoke the temporary suspension of sanctions on Iranian oil sales, describing the move as a “clear violation” of Article 10 of the Islamabad Memorandum of Understanding (MoU) signed on June 18 and holding Washington responsible for the consequences of the decision. In an official statement, Iran’s Ministry of Foreign Affairs said, “The Ministry of Foreign Affairs of the Islamic Republic of Iran strongly con…
Mumbai, June 7 (IANS) Indian equity markets are likely to remain volatile in the coming week as investors track escalating geopolitical tensions in West Asia, the Reserve Bank of India’s latest policy stance, persistent foreign fund outflows and rising US bond yields. The benchmark indices ended the previous week in negative territory, and analysts believe these developments could continue to influence market direction when trading resumes on Monday.The Indian stock market closed lower on Friday…
Washington, June 5 (IANS) US Treasury Secretary Scott Bessent and senior Republican lawmakers on Thursday highlighted what they described as growing success in reducing US economic dependence on China, citing a shrinking trade deficit, expanding domestic manufacturing and new efforts to protect American industries from Chinese competition. During a House Ways and Means Committee hearing on the administration’s economic policies, Republicans argued that US President Donald Trump’s trade and tax a…
Washington, May 29 (IANS) US Treasury Secretary Scott Bessent expressed confidence that global oil prices could decline rapidly once shipping disruptions in the Gulf ease, arguing that energy markets remain well supplied despite tensions surrounding the Strait of Hormuz.Speaking at a White House briefing, Bessent said the market had already shown resilience and suggested that fears of a prolonged energy shock may be overstated.”There are almost 2,000 ships waiting to come out of the Gulf and I t…
Mumbai, May 18 (IANS) Gold and silver showed volatility on Monday amid rising geopolitical tensions in West Asia, which typically support safe-haven demand, and a sharp rise in US Treasury yields.On the Multi Commodity Exchange (MCX), gold futures (June 5) were trading at Rs 1,58,697 per 10 grams around 11 am, up Rs 150 or 0.09 per cent.The yellow metal touched an intraday high of Rs 1,58,884, rising Rs 337 or 0.21 per cent, while the day’s low stood at Rs 1,57,547, down Rs 1,000 or 0.63 per c…
Washington, April 25 (IANS) US Treasury Assistant Secretary for Terrorist Financing Jonathan Burke has told lawmakers that sanctions remain a central tool to cut off adversaries from the American financial system and disrupt illicit activity.“Sanctions can be useful to isolate those sanctions targets and make sure they don’t have access to the US financial system,” Burke told lawmakers.Testifying before a House subcommittee, Burke said sanctions serve both as a direct enforcement tool and …
Washington, April 25 (IANS) Senior Democratic lawmakers have urged the US Treasury to review the transfer of federally owned land in Arizona to a foreign mining venture, asserting that it poses significant national security risks due to links with China and proximity to sensitive military installations.In a letter to Treasury Secretary Scott Bessent, Congresswoman Maxine Waters and three other ranking members called for an immediate review by the Committee on Foreign Investment in the United Sta…
Washington, April 24 (IANS) US Treasury Secretary Scott Bessent said on Friday that Washington’s actions helped prevent global oil prices from surging to $150 per barrel, keeping them closer to $100 amid geopolitical tensions, as he outlined a broader strategy linking energy stability, sanctions policy and financial leadership. Testifying before a Senate panel, Bessent noted that US decisions on sanctions and supply played a key role in stabilising markets during the ongoing conflict.”If we had …