The bikers battling extreme heat and armed conflict to smuggle Iranian fuel to Pakistan
It's so hot the fuel can catch fire - the bikers tell the BBC they must live with the risk of injury and death.
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Full text of US-Iran deal promises sanctions relief and phased access to frozen funds
Full text of US-Iran deal promises sanctions relief and phased access to frozen funds Iran is set to receive sanctions relief for the sale of its oil and related petroleum products as part of a memorandum of understanding with the US that could also unlock $300bn for the redevelopment of the Islamic Republic, according to the text of the agreement circulating in US media. The details have been reported by several media outlets, but Bloomberg obtained a full draft of the memorandum which appears to usher in sweeping gains for Iran without addressing key US war objectives. For example, the memorandum cited by Bloomberg does not address the fate of Iran’s enriched uranium, long considered a sticking point in negotiations.
Full text of US-Iran deal promises sanctions relief and phased access to frozen funds: Report
Full text of US-Iran deal promises sanctions relief and phased access to frozen funds: Report Submitted by MEE staff on Tue, 06/16/2026 - 22:15 US may pull forces out of areas near Iran as part of a final peace deal and commits to supporting a $300bn reconstruction fund, Bloomberg says US President Donald Trump speaks during a 'Secure America Act' signing ceremony in the Oval Office of the White House in Washington, DC, on 10 June 2026 (Ken Cedeno/AFP) Off Iran is set to receive sanctions relief for the sale of its oil and related petroleum products as part of a memorandum of understanding with the US that could also unlock $300bn for the redevelopment of the Islamic Republic, according to the text of the agreement circulating in US media. The details have been reported by several media outlets, but Bloomberg obtained a full draft of the memorandum which appears to usher in sweeping gains for Iran without addressing key US war objectives. For example, the memorandum cited by Bloomberg does not address the fate of Iran’s enriched uranium, long considered a sticking point in negotiations.
Bank of Japan lifts rates to highest level since 1995
The benchmark interest rate was hiked to 1%, despite US-Iran peace agreement, as higher energy costs spread through the economy The Bank of Japan raised its key interest rate by a quarter percentage point to 1% on Tuesday, lifting borrowing costs to their highest level since 1995 as it sought to contain inflation from soaring energy prices driven by the US-Israeli war on Iran.
Oil prices fall to three-month low ahead of US-Iran agreement
Oil prices fall to three-month low ahead of US-Iran agreement Oil prices have fallen sharply to their lowest levels in three months, as markets reacted positively to the anticipated signing of a formal agreement between Washington and Tehran later this week. Brent crude futures dropped $3. 29, or 4 percent, to $79.
Qatar looks to rapidly restart LNG exports once Hormuz reopens: Report
Qatar looks to rapidly restart LNG exports once Hormuz reopens: Report Submitted by Fleur Hargreaves on Tue, 06/16/2026 - 17:00 Source says QatarEnergy is ready to resume LNG production very quickly after US-Iran deal reopens Strait of Hormuz This photo shows QatarEnergy's operating facilities in Ras Laffan Industrial City, north of Doha, Qatar, on 2 March 2026 (AFP) Off Qatar is aiming to restore a large portion of its liquefied natural gas (LNG) export capacity within two months, according to a report published by Bloomberg on Tuesday. A source told Bloomberg that QatarEnergy told buyers it expects to raise output very quickly once safe passage through the Strait of Hormuz is restored. The company plans to increase output to about 50 percent of capacity a month to reach roughly 80 percent within two months – a much faster recovery than some analysts and traders expected.
War Hangs Over American Farmers as Fertilizer Prices Rise
The Iran war and lower crop prices have hurt makers of sulfur-based supplements. But farmers won’t skip nitrogen-based fertilizers, no matter the cost.
Global commodity prices likely to remain elevated amid easing West Asia tensions; India's WPI seen at 7-8 pc in FY27: BoB
New Delhi [India], June 16 (ANI): Global commodity prices are expected to remain elevated in the coming months as geopolitical tensions in West Asia continue to disrupt supply chains and adverse weather conditions threaten agricultural output, according to a report by Bank of Baroda (BoB).
US military copied Iran's smuggling tactics to move Gulf oil, report reveals
US military copied Iran's smuggling tactics to move Gulf oil, report reveals The US military has secretly coordinated the transfer of an estimated 90 million barrels of Gulf oil since May, adopting Iran ’s own sanctions-evasion tactics to covertly move the oil, a recent Reuters investigation revealed. Two specific locations where the oil transfers take place were identified by 11 people familiar with the operation, which at least 92 ships have been involved, according to shipping data and satellite imagery. The ship-to-ship transfer operations, a shuttling technique long used by Iran to skirt sanctions, are fully controlled by the US military, said eight of the sources, including someone involved in the transfers.
Oil Prices Continue to Fall as Traders Assess U.S.-Iran Deal
Stocks were mixed after strong rallies the day before.
Gas Prices May Remain High Despite US-Iran Deal
The preliminary agreement may not have an immediate effect on prices at the pump. Damaged infrastructure and risky transport could keep costs up.
Iran-US pact may ease oil shock, support broader earnings recovery in India: Kotak
Mumbai, (Maharashtra) [India] June 16 (ANI): A potential agreement between Iran and the United States to end the ongoing West Asian conflict could lead to a normalization of global energy markets, ease macroeconomic pressures on India and support a broader recovery in corporate earnings, according to a report by Kotak Institutional Equities.
Iran central bank chief heads to Moscow for expanding monetary cooperation
Iran central bank chief heads to Moscow for expanding monetary cooperation An Iranian delegation led by Central Bank Governor Abdolnaser Hemmati has travelled to Moscow for talks on "monetary and banking relations between Iran and Russia", according to Iran's semiofficial Fars News Agency. The visit is expected to focus on ways to "facilitate monetary exchanges", strengthen cooperation between the two countries' central banks and develop new mechanisms to expand overall economic ties. Russia remains one of Iran's closest allies as Tehran continues to face Western sanctions.
US-Iran peace talks: Senior officials link sanctions relief to nuclear compliance guarantees
By Reena Bhardwaj Washington DC [US], June 16 (ANI): Senior officials in the Trump administration on Monday (local time) outlined the contours of a newly negotiated understanding with Iran, describing it as a framework that could reshape relations between Tehran and Washington while linking sanctions relief and economic reintegration to strict nuclear oversight and regional security commitments.
Hormuz reopening must be reflected in reality, shipping executive says
Hormuz reopening must be reflected in reality, shipping executive says Shipowners are unlikely to resume regular transit through the Strait of Hormuz for several weeks despite the Iran-US agreement, according to the chief executive of Japan's Mitsui OSK Lines (MOL). Speaking to the Financial Times before the deal was announced, Jotaro Tamura said confidence would depend on conditions in the waterway rather than diplomatic declarations alone. "What will have to come in place is not just a simple agreement between the relevant countries, but it has to be material and translated into the real situations in the Strait of Hormuz, so that shipping lines can make themselves comfortable to go through," he said.
Iranian Vessels Sail through As Naval Blockade Is Lifted
TEHRAN (Tasnim) – The lifting of the naval blockade became operational in the wee hours of Tuesday.
Iranian cargo and oil tankers transit Hormuz after US lifts blockade
Iranian cargo and oil tankers transit Hormuz after US lifts blockade At least three Iranian oil tankers and two cargo vessels have transited the Strait of Hormuz following the US announcement that it would remove its naval blockade as part of the agreement reached with Tehran, according to Iranian state-affiliated media. Press TV reported that the vessels passed through the strategic waterway after the deal was announced, while the semi-official Fars News Agency said a very large crude carrier was among the ships heading towards Iranian ports. The Strait of Hormuz handles a significant share of global oil and liquefied natural gas shipments, and markets have closely monitored signs that traffic is beginning to recover following the US-Iran accord.
Will Commercial Ships Have to Pay to Pass Through the Strait of Hormuz? Maybe.
Charging a toll is illegal under international law, but some fees are allowed for services. It is not clear what services Iran would provide, but there were no fees charged before the war.
Trump, Vance sign MoU with Iran, sanctions relief tied to nuclear verification measures: US officials
Washington DC [US], June 16 (ANI): Senior US administration officials said that US President Donald Trump and Vice President JD Vance have signed a memorandum of understanding (MoU) with Iran that lays out a framework for future engagement and sanctions relief linked to Tehran's cooperation on the nuclear program and regional security commitments.
New Zealand considering IRGC terrorist designation, deputy PM says
New Zealand is actively considering designating Iran’s Revolutionary Guards as a terrorist organization, Deputy Prime Minister David Seymour told Iran International on Monday.
