The United States launched a new wave of military strikes against Iran after revoking a temporary license that had allowed Tehran to sell oil, following attacks on three commercial vessels in the Strait of Hormuz. The developments have heightened tensions and placed additional strain on the fragile ceasefire reached between the two countries last month. […]
Oil Sanctions
US boards sanctioned tanker in Indian Ocean amid Venezuela oil crackdown
WASHINGTON: US military forces boarded a sanctioned oil tanker in the Indian Ocean after tracking it from the Caribbean Sea, as part of Washington’s efforts to enforce an oil quarantine targeting Venezuela, Defence Secretary Pete Hegseth said on Monday. Read More: Trump announces India will buy Venezuelan oil, not Iranian crude The tanker, Aquila II, was […]
Russia backs Venezuela amid tanker blockade tensions
CARACAS/BEIJING/NEW YORK: Russia has pledged full political and diplomatic support to Venezuela as tensions escalate following US action against sanctioned Venezuelan oil tankers in the Caribbean. Read More: Oil price rise on US sanctions, Venezuela tanker risks The commitment was conveyed during a phone call between Russian Foreign Minister Sergei Lavrov and his Venezuelan counterpart Yvan Gil. […]
Trump Says Modi Agrees to Stop Buying Russian Oil
WASHINGTON – US President Donald Trump said on Wednesday that Indian Prime Minister Narendra Modi has agreed to stop purchasing oil from Russia — a decision Trump hailed as a “big stop” in global efforts to isolate Moscow over its invasion of Ukraine. India and China are the largest buyers of Russian seaborne crude, benefiting […]