Washington, DC [US], April 16 (ANI): US Secretary of War Pete Hegseth has addressed reports concerning potential Chinese arms shipments to Iran, confirming that Washington has received high-level assurances that such a move will not take place.
Washington had issued the exemption for New Delhi and others to lower soaring energy prices amid the Iran war The US will not renew the sanctions waiver that facilitated purchases of Russian oil by India and other countries, a top Trump administration official has said. A 30-day waiver of sanctions on Iranian oil at sea will also expire this week.
Tehran [Iran], April 16 (ANI): The Iranian government has implemented a total ban on the export of petrochemical products as it scrambles to safeguard internal supplies following a series of precision Israeli strikes on its industrial infrastructure.
New Delhi [India], April 16 (ANI): The ongoing Iran conflict has sharply reversed the global oil market balance, wiping out last year's surplus and pushing the market into a deficit in early 2026, according to a report by YES Securities.
Guardian readers describe how their lives have been upended by cost hikes stemming from Trump’s Iran war With the US and Israel’s war on Iran now in its seventh week, with a fragile ceasefire in place since earlier this month, Americans are continuing to feel the effects at the pump as global fuel prices rise . For several readers who spoke to the Guardian, the impact has forced difficult trade-offs – from accessing essential medicines and groceries to facing the brink of homelessness amid an already rising cost of living . Continue reading...
Putting a stop to Iranian shipping will further add to Iran’s economic pain, analysts said, but it might not be enough to force concessions or lessen the global energy crunch.
Iran halts petrochemical exports until further notice Iran halted all petrochemical exports to prioritise domestic supply and prevent shortages of raw materials, the economic newspaper Donya-e-Eqtesad reported on Thursday, due to disrupted production after Israel struck several petrochemical hubs. The instruction was issued on 13 April by a senior National Petrochemical Company official overseeing downstream industries, and told petrochemical firms to suspend exports until further notice. The export ban primarily aims to stabilise domestic markets and ensure supply to industries following damage caused by recent attacks.
Freelancers and small business owners say their incomes have collapsed and daily operations have halted during Iran’s prolonged internet shutdown, which NetBlocks said has caused $1. 8 billion in losses over 48 days.
Iran has halted exports of all petrochemical products until further notice to prevent shortages of raw materials and stabilize the domestic market, state-linked media reported.
If tankers do not soon begin crossing the Strait of Hormuz, airlines in Europe may not have enough jet fuel to operate all of their flights.
WASHINGTON, D. C. : On April 15, U.
Tehran [Iran], April 16 (ANI): Iranian Foriegn Minister Seyyed Abbas Araghchi has warned of 'dangerous consequences' in response to what he described as provocative actions by the United States in the Persian Gulf, referring to the imposition of the US blockade on Iranian ports.
Washington DC [US], April 16 (ANI): White House Deputy Chief of Staff for Policy and Homeland Security Advisor Stephen Miller said that the United States' naval blockade against Iran in the Persian Gulf is 'squeezing the economic life' out of the Islamic Republic, while reiterating Washington's firm
Tehran has reportedly floated a proposal to allow ships to sail freely through the Omani side of the waterway Iran could consider allowing ships to pass freely through the Omani side of the Strait of Hormuz if the US offers concessions in return, Reuters reported on Wednesday, citing a source briefed by Tehran.
Tehran has reportedly floated a proposal to allow ships to sail freely through the Omani side of the waterway Iran could consider allowing ships to pass freely through the Omani side of the Strait of Hormuz if the US offers concessions in return, Reuters reported on Wednesday, citing a source briefed by Tehran.
Washington DC [US], April 16 (ANI): United States Secretary of the Treasury Scott Bessent on Wednesday (local time) warned that the US is prepared to impose secondary sanctions on Chinese financial institutions if they are found facilitating Iranian financial flows. 'Iran used to be the largest state sponsor of terrorism.
Sri Lankan buyer paid $286 for barrel of oil, as actual prices diverge from markets Submitted by Sean Mathews on Wed, 04/15/2026 - 22:15 HSBC chief says price of Brent crude does not reflect real-world prices in Asia, when insurance, shipping and scarcity are taken into account An employee fills an auto-rickshaw with petrol at a filling station in Wellawatte on the outskirts of Colombo, Sri Lanka, on 16 March 2026 (Ishara S Kodikara/AFP) Off The price paid for a barrel of oil in Asia has reached as high as $286 in at least one case, as a result of the US-Israeli war on Iran, Georges Elhedery, the CEO of HSBC Bank, said at an investment forum in Hong Kong on Tuesday. Elhedery made the remarks to underscore how the benchmark price of oil in the West does not reflect the actual price buyers in certain parts of the world are paying. “What worries me is not the headlines.
US imposes new sanctions on Iran’s oil shipping network The US Treasury’s Office of Foreign Assets Control has announced new sanctions targeting what it described as Iran’s illicit oil transportation infrastructure. The measures cover two dozen individuals, companies and vessels linked to a network run by Mohammad Hossein Shamkhani. Treasury Secretary Scott Bessent said Washington would continue efforts to disrupt Iran’s oil smuggling operations and proxy networks.
Washington DC [US], April 16 (ANI): United States Secretary of the Treasury Scott Bessent on Wednesday (local time) warned that the US is prepared to impose secondary sanctions on Chinese financial institutions if they are found facilitating Iranian financial flows. 'Iran used to be the largest state sponsor of terrorism.
Washington DC [US], April 16 (ANI): United States Secretary of the Treasury Scott Bessent on Wednesday (local time) said that the US will not renew the general license that allowed limited transactions involving Russian and Iranian oil amid ongoing geopolitical tensions. 'We will not be renewing the general license on Russian oil and Iranian oil. That was oil that was on the water prior to March 11th.
