The United States has offered a reward of up to $15 million for information that disrupts the financial mechanisms of Iran's Revolutionary Guards (IRGC), focusing on a company Washington says plays a key role in producing drones used by Tehran and its regional allies.
Washington, DC [US], July 30 (ANI): The US Department of the Treasury on Thursday announced sanctions against six entities and individuals in China, India, Russia, and Iran for allegedly supporting Iranian carrier Mahan Air, which Washington maintains has long facilitated the movement of weapons, military hardware, and IRGC-Quds Force personnel.
NEW YORK CITY, New York: Oil prices surged about seven percent on July 29, with Brent crude climbing above US$90 a barrel, as renewed military action in the Middle East and fresh threats to shipping through the Strait of Hormuz heightened concerns over global oil supplies. Brent crude futures rose $6. 16, or 7.
US issues sanctions targeting support networks for Iran's Mahan Air The United States on Thursday issued new Iran-related sanctions that target global networks supporting Mahan Air, the Iranian carrier Washington says transports Iran's Islamic Revolutionary Guard Corpspersonnel, as well as weapons and drones. The US Treasury designated six entities and individuals in China, India, Russia and Iran for acting as sales agents and support networks for the US- and EU-sanctioned airline, the department said in a statement.
Investigators cautioned that the assessment was preliminary. There were no indications that any water supply had been rendered unsafe to drink.
Washington, DC [US], July 30 (ANI): US President Donald Trump has called on lawmakers to modify a newly passed Russia sanctions bill to accord him sweeping authority to impose tariffs on Iran, a move that threatens to delay the passage of the legislation as it moves to the House of Representatives.
Washington, DC [US], July 30 (ANI): The United States on Wednesday slammed fresh sanctions on entities connected with Iran's Revolutionary Guards, accusing them of shaking down commercial vessels operating through the Strait of Hormuz. The US Treasury Department stated that the punitive action hits eight oil tankers and 10 corporate entities.
New US sanctions target Iran's Hormuz income The United States on Wednesday announced new sanctions targeting entities linked to Iran's Revolutionary Guards that it accused of extorting ships transiting the Strait of Hormuz. The announcement came as President Donald Trump warned the United States would strike Iran "hard" after a missile attack against US bases in Jordan, reigniting the war after a days-long pause. The US Treasury Department said in a statement that a scheme backed by Iran's Revolutionary Guard "forces commercial vessels to purchase mandatory maritime 'insurance' to transit the Strait.
HOUSTON, Texas: Baker Hughes said on July 27 it expects global spending by oil and gas producers to decline modestly this year as weaker investment in Europe and the Middle East outweighs growth in Latin America, offshore Africa and North America's onshore market.
The United States on Wednesday imposed sanctions on ten companies and eight tankers linked to Iran's oil trade as Tehran said it had stopped three commercial vessels in the Strait of Hormuz, underscoring the ongoing battle over the strategic waterway.
Iran is expected to receive within weeks the first shipment of up to 400 Chinese-made shoulder-fired air-defense missile launchers under a deal worth $60 million-$70 million, three sources familiar with the agreement told Reuters.
WASHINGTON D. C. : U.
Leading thinktank says higher oil prices and inflation will give Andy Burnham a ‘challenging inheritance’ Andy Burnham has been warned by a leading thinktank of “very difficult trade-offs in the next autumn budget” if the Iran war keeps oil prices and inflation high. The National Institute of Economic and Social Research (NIESR) said the new prime minister faced a “challenging inheritance” and his plans to revamp public services would meet severe pressure from persistently higher prices. Continue reading...
US official says Iran making 'unreasonable demands' for Hormuz fees A US official said on Tuesday that there will be no tolls or fees for passage through the Strait of Hormuz during ongoing ceasefire talks taking place between the US and Iran. The US official said Iran was making unreasonable demands that were rejected by Oman and the US after it proposed a temporary arrangement to reopen the strait that would allow Iran to have greater control over transit through the waterway.
Iran proposes temporary Hormuz plan to give itself more control over transit Iran has proposed to Oman a temporary arrangement to reopen the Strait of Hormuz, under which one direction of traffic and part of the traffic in the opposite direction would pass through Iranian waters, allowing for greater Iranian control of transit. Deputy Foreign Minister Kazem Gharibabadi told state TV on Tuesday that Tehran rejected an Omani proposal for an equal division of transit routes between the two countries, saying that it did not address Iran’s security concerns amid ongoing US-Israeli attacks on the country. He said that if Muscat rejected Iran’s proposal, the Strait of Hormuz would remain closed, adding that Tehran had never recognised the alternative southern route along Oman’s coast.
Iran threatens Hormuz ban on countries accepting frozen assets under Trump plan Iran has warned that it will bar countries and companies from the Strait of Hormuz if they receive money drawn from frozen Iranian assets. US President Donald Trump earlier proposed using Tehran’s blocked funds to cover damage to ships and cargo in the waterway. Iran denounced the proposal as “incendiary”.
Mumbai, (Maharashtra) [India] July 28 (ANI): Commercial shipping through the Bab el-Mandeb Strait has slowed sharply in recent days as heightened security risks, insurance restrictions and evolving military developments in the Middle East prompt ship operators to reassess routes through the Red Sea, according to an S&P Global report.
Mumbai (Maharashtra) [India], July 27 (ANI): Indian equity markets ended sharply higher on Monday, snapping a five-session losing streak, as easing tensions between the United States and Iran triggered a decline in crude oil prices, boosting investor sentiment globally.
Less than a dozen ships transited through Hormuz Strait over the weekend Fewer than 10 commodity vessels passed through the Strait of Hormuz daily over the weekend, despite a pause in the exchange of strikes between Iran and the US. According to Reuters citing Kpler, Seven vessels transited on Sunday, including three Iranian-linked oil products tankers that exited the waterway. On Saturday, three vessels reportedly passed through.
A widening scandal over the secret network used to move Iran's oil revenues around international sanctions has triggered growing criticism after senior officials acknowledged that intermediaries misappropriated at least $1. 6 billion, with some fleeing the country.
