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 …
Latest US Treasury News & Updates
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 …
Washington, April 23 (IANS) US Treasury Secretary Scott Bessent defended a temporary sanctions waiver affecting Russian oil, saying it helped prevent a sharper spike in global prices, even as Democrats warned it could boost Moscow’s war finances and keep fuel costs high.Testifying before a Senate panel, Bessent said the move was aimed at stabilising supply during a volatile period.“Treasury was able to create the more than 250 million barrels on the water,” he said.He added that without th…
Caracas, April 21 (IANS) A nationwide mobilisation against US sanctions continued in Venezuela, with National Assembly President Jorge Rodriguez leading a rally calling for political and social unity. “We have to put an end to the sanctions,” Rodriguez said at Cerro El Gallo in San Felix, where the rally took place on Monday (local time). He said the campaign aims to build consensus and push for the lifting of economic sanctions, urging Venezuelans to set aside differences and focus on shared in…
Washington, April 16 (IANS) Tax exemptions on overtime and targeted relief for small businesses have emerged as key drivers behind the uptake of President Donald Trump’s tax cuts, according to the White House. US Treasury Secretary Scott Bessent told reporters at a news conference that the most widely used provision in the new tax framework was the exemption on overtime income, with more than 25 million filers claiming the benefit.He said the policy was designed to reward additional work. “I…
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, …
New Delhi, March 28 (IANS) Gold prices gained 5.77 per cent during the week, amid sustained geopolitical tensions and pull back in crude oil prices.On Friday, MCX gold April futures added 0.15 per cent while MCX silver May futures declined 0.09 per cent. Currently, gold futures stand at Rs 1,44,500, while silver futures at Rs 2,27,750 per kg.The price of 10 grams of 24-carat gold was at Rs 1,42,942 on Friday, up from Rs 1,35,141 seen on Monday market opening, according to data published by the I…
New Delhi, March 13 (IANS) The US waiver for buying seaborne Russian crude has immediately freed another 20-odd million barrels of oil on board ships which is expected to cool runaway prices that have crossed the $100 per barrel mark in the global market amid the Iran war.There are currently around 25 ships carrying Russian crude at sea while another five ships are carrying petroleum products. These can be diverted immediately to destinations from where the demand emanates.The temporary waiver c…
New Delhi, March 13 (IANS) Gold and silver prices opened flat but dipped marginally on Friday, amid profit‑taking capped after recent record highs and strengthening of US dollar.MCX gold April futures lost 0.14 per cent to Rs 1,60,046 per 10 grams around 11.10 am on an intraday basis. Meanwhile, MCX silver May futures declined 0.19 per cent to Rs 2,67,448 per kg.However, the decline was capped by safe‑haven demand amid the ongoing US‑Iran war, and high crude prices kept underlying support …