The United States has issued a 30-day general licence allowing access to certain Russian oil shipments, in a move aimed at stabilising global energy markets and ensuring continued supply flows amid ongoing geopolitical disruptions. US Treasury Secretary Scott Bessent confirmed that the temporary licence will facilitate access to Russian crude oil that is currently stranded […]
Scott Bessent
US expands Iran oil sanctions amid growing regional tensions
The United States has announced fresh sanctions against individuals and companies accused of helping Iran export oil to China, intensifying Washington’s economic pressure campaign against Tehran. The new restrictions target three individuals and nine companies allegedly involved in transporting and facilitating Iranian oil shipments through international financial and trading networks operating across multiple countries. According […]
US eyes lifting 25% India tariffs
WASHINGTON – The United States is considering removing 25% tariffs on India after Indian imports of Russian oil fell sharply, officials said. Treasury Secretary Scott Bessent highlighted the reduction as a positive development for trade relations. The potential move comes amid ongoing tensions over India’s past purchases of Russian crude. Trade friction escalated in August […]
Australia, India invited to G7 meeting on critical minerals: US Treasury
WASHINGTON: Australia, India, and several other countries have been invited to a G7 finance ministers’ meeting on critical minerals, US Treasury Secretary Scott Bessent said, amid growing Western efforts to reduce dependence on China for rare earths and other strategic resources. Read More: Modi unlikely to attend G7 summit in Canada amid ongoing diplomatic tension The […]
Trump administration mulls sweeping export curbs on China
WASHINGTON: The Trump administration is weighing a sweeping plan to restrict software-powered exports to China, including items ranging from laptops to jet engines, in retaliation for Beijing’s latest rare earth export controls, according to US officials and sources briefed on the deliberations. The proposed measure, not yet finalized, would target global shipments containing US software […]
Trump Admits 100% Tariff on China “Not Sustainable”
WASHINGTON — U.S. President Donald Trump on Friday admitted that his proposed 100% tariff on Chinese imports would not be economically sustainable, but insisted Beijing’s actions forced Washington into the latest trade escalation. “It’s not sustainable, but that’s what the number is,” Trump said in an interview with Fox Business Network, when asked about the […]
Trump’s Tariff Threats Overshadow IMF
WASHINGTON– Finance ministers and central bankers gathering in Washington this week for the IMF and World Bank annual meetings are facing renewed global uncertainty after Donald Trump reignited the US-China trade war, threatening 100% tariffs on Chinese imports. The move has rattled markets and overshadowed what was expected to be a week focused on the […]
US Strikes $20 Billion Currency Swap Deal with Argentina Amid Market Turmoil
WASHINGTON – The United States finalized a $20 billion currency swap line with Argentina on Thursday and directly purchased Argentine pesos, in what Treasury Secretary Scott Bessent called an “exceptional measure” to stabilize turbulent markets in the debt-laden South American nation. “US Treasury is prepared to take whatever exceptional measures are warranted to provide stability […]