US TREASURY DEPARTMENT SANCTIONS
Allies fear a rushed US-Iran framework deal could backfire, leaving technical deadlock
US-Iran war news: European allies express concern over a potentially hasty U.S. deal with Iran. They fear an inexperienced American team might secure a superficial agreement on Iran's nuclear program and sanctions relief. This could lead to prolonged, complex follow-up talks. The U.S. White House rejects these criticisms, stating President Trump prioritizes American interests. Talks are ongoing, focusing on uranium stockpiles and sanctions.
'Shameful, 180-degree reversal': US Senate Democrats slam Trump administration for extending waiver on Russian oil
Senior Democratic lawmakers in the US Senate on Friday (local time) sharply criticised the Trump administration for extending a waiver that allows the continued sale of sanctioned Russian oil, calling the move a "shameful" policy reversal.
US extends waiver allowing India and other countries to buy Russian oil
The Donald Trump administration has issued a short-term waiver allowing countries to continue buying sanctioned Russian oil loaded on ships until May 16, aiming to stabilise global energy prices amid the US-Israeli war on Iran.
White House and Anthropic CEO discuss working together amid rising fear about Mythos model
The meeting between CEO Dario Amodei and White House staff, which took place amid growing fears the AI startup's latest model will supercharge cyberattacks, suggests the two sides might be on a path to rebuilding trust.
US move on Russian oil waiver adds pressure as Iran war strains energy markets, India engaged in talks: Sources
India faces a tougher energy market as the US will not extend waivers for Russian oil imports. This decision impacts countries already struggling with the Hormuz crisis. Russia has assured India of continued energy supplies, including crude oil, LPG, and LNG. India's oil imports from Russia have significantly increased, making it a key market for Moscow.
Anthropic CEO to meet White House chief of staff amid Pentagon AI dispute: Report
Anthropic CEO Dario Amodei is slated to meet White House chief of staff Susie Wiles on Friday, in a sign of a breakthrough in the artificial intelligence startup's dispute with the Pentagon, Axios reported.
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Indian refiner Reliance rejects Iran oil cargoes as waiver deadline looms
Reliance Industries has rejected two Iranian oil cargoes. This comes just before a U.S. waiver on Iranian oil exports expires. Washington will not renew these waivers. India had allowed Reliance to buy Iranian oil on several sanctioned tankers. Reliance stated the Derya tanker cargo did not meet compliance requirements. Indian Oil Corp recently bought Iranian crude.
Market shock ahead? Ex-Treasury secretary warns of ‘vicious’ bond crash coming
Former U.S. Treasury Secretary Henry Paulson warns of a possible bond market crash due to rising U.S. debt and interest rates. He says risks are growing but not immediate. Experts fear a debt “doom loop.” The crisis could hit global markets and crypto like Bitcoin, first negatively, then possibly positively later.
London insurers launch $1 bn war cover for Hormuz shipping
London shipping insurers are providing $1 billion in additional war coverage for vessels navigating the Strait of Hormuz. This move by a marine war consortium led by Beazley aims to support the maritime sector amidst the ongoing Middle East conflict.
Indian refiners pay for Iran oil in yuan via ICICI Bank, sources say
Indian refiners are making payments for Iranian oil using Chinese yuan. This is happening through ICICI Bank's Shanghai office. Indian Oil and Reliance have bought shipments under a temporary U.S. sanctions waiver. This payment method has not been previously reported. India has also used yuan for Russian oil. The U.S. waiver on Iranian oil is set to expire soon.
US Israel-Iran War Day 48: US' new sanctions on Iran, Tehran vows to 'sink' ships as battle for Hormuz intensifies
Iran War News Day 48: As the Iran-Israel war reaches its 48th day, tensions escalate with Iran threatening US forces and the US intensifying economic pressure through new sanctions and a naval blockade. Israel aligns with US goals, expanding military objectives, while diplomatic efforts and global economic concerns continue to shape the conflict's critical juncture.
India-China energy cooperation doesn't require warm relations, or lofty civilisational rhetoric
India and China face a new opportunity in energy markets. Past cooperation in Africa, despite challenges, shows potential. Both nations seek stable energy imports, bypassing geopolitical risks. This shared need can drive future joint ventures. New energy projects in Africa could form a strong foundation for collaboration. This pragmatic approach is vital for securing energy supplies.
EU in talks with Anthropic over risks of AI model Mythos
The EU said Thursday it is in discussions with US AI firm Anthropic over concerns about the capabilities of its latest model, which the company itself worries could be a boon for hackers. But no foreign entities were included, raising concerns about the world's preparedness for a model whose offensive capabilities would not stop at US borders.
India may get a crude hit from Trump's curbs on Russian & Iranian oil buying freedom
The United States has ended sanctions waivers that allowed countries, including India, to buy Russian and Iranian oil without penalties, a move that could tighten global supplies and pressure Indian refiners. US Treasury Secretary Scott Bessent confirmed the decision, saying the temporary licenses for Russian and Iranian crude would not be renewed.
US-sanctioned supertankers enter Gulf despite blockade
A second U.S.-sanctioned supertanker has entered the Strait of Hormuz despite Washington’s blockade on vessels linked to Iranian ports, raising questions over enforcement. The move comes amid stalled U.S.-Iran talks, with Iran continuing crude exports near recent levels.
From dropping bombs to pressuring banks: US pivots to economic warfare on Iran
The Trump administration is shifting its Iran strategy towards economic pressure, threatening secondary sanctions on countries doing business with Tehran. Treasury Secretary Scott Bessent stated these moves are the "financial equivalent" of a bombing campaign, aiming to choke Iran into submission. This escalation targets entities like Chinese banks and warns allies like the UAE, as the U.S.
US ends sanctions waiver for Russian, Iranian Oil; India among affected buyers
US Treasury Secretary Scott Bessent on Wednesday confirmed Washington will not renew sanctions waivers on Russian and Iranian oil, ending temporary relief that had allowed countries including India to purchase crude from both nations without facing US penalties.
US announces new sanctions on Iranian oil as it holds Hormuz 'hostage'
The United States is intensifying sanctions on Iran's oil industry, targeting over two dozen individuals, companies, and ships linked to petroleum magnate Mohammad Hossein Shamkhani. This action aims to curb Iran's revenue generation as it continues to blockade the Strait of Hormuz amid the ongoing Middle East war.
US warns that buyers of Iranian oil could be hit with sanctions
The United States warned it will impose secondary sanctions on buyers of Iranian oil as it enforces a maritime blockade, saying China may halt purchases. Treasury Secretary Scott Bessent said banks handling Iranian funds risk penalties, while Washington intensifies pressure on Tehran’s oil exports and global energy networks.
Hormuz shipping muted as US blockade takes hold: Tracking data
A trickle of ships crossed the Strait of Hormuz Tuesday and Wednesday as a US blockade appeared to further curb traffic in the trade route already paralysed by Iranian forces, marine tracking data showed. Here are the latest developments in the strait, - US blockade enforced - The US military said the blockade of vessels either departing or destined for Iranian ports had been fully implemented during the first 48 hours.
US Israel-Iran War Day 47: Pakistan mediation, IMF risk warnings and Trump’s ceasefire optimism drive parallel tracks
Iran War Day 47 Updates: The Iran-Israel war continues with signs of peace talks emerging. US President Donald Trump believes the conflict is nearing its end. Diplomatic efforts are underway between Israel and Lebanon. However, military actions persist, and economic pressures are mounting globally. The core issue of Iran's nuclear program remains a key point of contention. Global powers are engaging to de-escalate the situation.
Economic growth will be slower this quarter amid war, US Treasury chief says
US Treasury Secretary Scott Bessent sees a slower economy this quarter amid the Iran war. He believes the economy is fundamentally strong and will recover. Bessent noted oil prices are not currently affecting inflation expectations. The Treasury will monitor retail gasoline sales to ensure fair pricing for consumers.
Iranian oil arrives in India just ahead of US waiver expiry
India has received Iranian oil shipments. This marks the first imports in seven years. The nation is securing volumes before a US grace period ends. Tankers are discharging crude on India's east and west coasts. This move aims to manage global energy flow disruptions. India is leveraging waivers for previously restricted oil.
Wall Street scales highs, oil drops on hopes for renewed US-Iran talks
Wall Street indexes advanced Tuesday as prospects for new U.S.-Iran peace talks emerged, pulling down oil prices and the U.S. dollar. The S&P 500 neared a record closing high, while Brent crude and WTI futures saw significant drops. Investors are optimistic about a potential de-escalation, despite ongoing inflation concerns.
US Treasury says not renewing temporary Iran oil sanction easing
The US Treasury Department said Tuesday it does not plan to renew a temporary easing of sanctions on Iranian oil that aimed to ease war-related supply shocks. The temporary easing on Iranian oil previously was part of a series of measures launched by the Trump administration to quell skyrocketing energy prices following the start of the war on February 28, including a similar easing of sanctions on Russian oil at sea.
US to allow waiver on Iran oil to expire, administration sources say
The Donald Trump administration will allow a 30-day sanctions waiver on Iranian oil shipments to expire later this week, ending a temporary measure that had eased global supply pressures by allowing significant volumes of oil to reach markets. The move comes as the U.S. tightens its blockade on Iranian exports and faces bipartisan criticism over earlier sanctions relief, with officials warning that entities engaging with Tehran could face additional or secondary sanctions.
US' Russian oil waiver set for an extension
US Treasury Secretary Scott Bessent met with Trump in the White House on Thursday to talk about extending the waiver, and they agreed it was a good idea, one of the sources said, asking not to be named. Officials at the White House and Treasury Department did not immediately comment on the matter. Oil prices have spiked since the start of the war due to the partial closure of the Strait of Hormuz.
Gold overtakes US Treasuries as the world’s largest reserve asset for the first time in 30 years— is this the start of de-dollarization or just a reserve shift?
Gold moves ahead of U.S. Treasuries after three decades—and the numbers explain why. Central banks now hold nearly $4 trillion in gold, slightly above ~$3.9 trillion in U.S. Treasuries. This sharp shift marks the first crossover since the 1990s. Gold overtakes U.S. Treasuries as rising prices and record buying reshape global reserves. Treasuries once dominated with a 33% share in 2015. That has now dropped near 21%. Gold climbed from 5% to around 24%. Countries are reducing reliance on U.S. debt. They are adding gold as a safe asset. This signals diversification, not full de-dollarization. The U.S. dollar still leads global trade.
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