Page 4 - Iran Economy

Oil prices climb amid uncertainty over Iran President Raisi's fate

A helicopter carrying Iranian President Ebrahim Raisi crashed on Sunday, Iranian officials said

India, Iran to ink 10-year agreement to manage and operate Chabahar port

The deal, significant for its potential impact on trade and geopolitics, had been in the works for years but had been stalled for various reasons

Iran rejects Argentina's request to arrest minister over 1994 bombing

Iran lashed out at Argentina on Wednesday after the South American country sought the arrest of Iran's Interior Minister Ahmad Vahidi over his alleged involvement in the deadly 1994 bombing of a Buenos Aires Jewish community centre. Without mentioning Vahidi by name, Iran's Foreign Ministry warned Argentina against making baseless accusations against citizens of other countries. The warning Wednesday came a day after Argentina demanded that Pakistan act on an Interpol red notice to arrest Vahidi during an official visit to Islamabad. Vahidi, who is wanted by Interpol, cut his government trip to Southeast Asia short, making an unexpected return to Tehran Wednesday. There was no immediate response from Pakistani authorities. Argentina's renewed push to hold Iran accountable for the worst such attack in its history comes as right-wing President Javier Milei reshapes foreign policy to align more closely with Iran's bitter enemy, Israel, and as tensions surge between the Mideast foes.

Anyone considering business with Iran will face risk of sanctions: US

Anyone considering a business deal with Iran needs to be aware of the potential risk of sanctions from the United States, an official said on Tuesday. "Just let me say broadly, we advise anyone considering business deals with Iran to be aware of the potential risk of sanctions. But ultimately, the government of Pakistan can speak to their own foreign policy pursuits," Vedant Patel, Deputy Spokesperson of the US State Department, said while responding to a question on a recent visit of the Iranian president to Pakistan. During the visit, Pakistan and Iran signed eight MoUs (memoranda of understanding) and also agreed to push bilateral trade to USD 10 billion. Early this week, the US imposed sanctions on suppliers to Pakistan's ballistic missile programme, including three companies from China. "The sanctions were made because these were entities that were proliferators of weapons of mass destruction and the means of their delivery. These were entities based in the PRC (People's Repub

Signs of stress: India Inc feels the heat of Iran-Israel conflict

Industry executives nervous about rising freight cost, longer delivery time

Iran asserts 'inherent right to self-defence' over Israel's aggression

Iran expressed disappointment that the UN Security Council failed to "fulfil its duty in a right, fair, unbiased and undiscriminating manner"

US, UK issue new sanctions on Iran in response to weekend attack on Israel

The US and UK on Thursday imposed a new round of sanctions on Iran as concern grows that Tehran's unprecedented attack on Israel could fuel a wider war in the Middle East. Treasury's Office of Foreign Assets Control targeted 16 people and two entities in Iran that produce engines that power the drones used in the April 13 attack on Israel. Additionally, the UK is targeting several Iranian military organizations, individuals and entities involved in Iran's drone and ballistic missile industries. We will continue to deploy our sanctions authority to counter Iran with further actions in the days and weeks ahead," Treasury Secretary Janet Yellen said in a statement. The action comes after US officials earlier this week warned that they were readying new sanctions in response to Iran's activity in the region and to prevent future attacks. Lawmakers on Capitol Hill also have been quickly pushing forward legislation that would financially punish the Islamic Republic and its leaders. Iran'

US contemplates more Iran sanctions; Israel war cabinet to meet again

An Israeli government source said the war cabinet session scheduled for Tuesday had been put off until Wednesday, without elaborating

Will allow Indian authorities to meet crew members of seized vessel: Iran

Iranian Foreign Minister Hossein Amir-Abdollahian has said that Tehran will allow Indian authorities to meet 17 Indian crew members of a cargo vessel that was seized by the Iranian military near the Strait of Hormuz on Saturday. Amir-Abdollahian conveyed this to External Affairs Minister S Jaishankar during a telephonic conversation on Sunday, according to an Iranian readout. In the talks, Jaishankar called for release of the Indians onboard Portuguese-flagged cargo vessel MSC Aries. "We are following up on the details of the seized ship and soon it will be possible for the representatives of the Indian government to meet with the crew of the said ship," the Iranian readout quoted Amir-Abdollahian as saying. It said Jaishankar expressed his concern about the situation of the 17 Indian crew members and requested assistance from Iran in this regard. Special Naval Forces of Iran's Islamic Revolution Guards Corps (IRGC) seized 'MSC Aries' reportedly in view of its links with Israel.

Iran-Israel conflict: Blinken calls Turkey, Egypt, Jordan, Saudi FMs

: US Secretary of State Antony Blinken on Sunday reached out over phone to the foreign ministers of Jordan, Saudi Arabia, Turkey and Egypt, while Defense Secretary Lloyd Austin had calls with his Saudi and Israeli counterparts, amid signs of an escalating crisis in the Middle East following Iran's strikes on Israel. Iran fired more than 300 drones and missiles at Israel, which Tehran said was in response to the April 1 strike on its consulate in Syria. Almost all Iranian drones and missiles were shot down by Israeli, US and allied forces before they reached their targets. The diplomatic overdrive to fight the crisis came soon after US President Joe Biden had a conference call with G-7 leaders and had separate telephonic conversations with King Abdullah of Jordan and Prime Minister Benjamin Netanyahu of Israel. In all the calls, the American leadership emphasised on the need to avoid further escalation in the region and reaffirmed America's ironclad commitment to the security of ...

Despite years of enmity, Why did Iran attack Israel for the first time?

Iran's dramatic aerial attack on Israel follows years of enmity between the countries and marks the first time Iran has launched a direct military assault on Israel. The hostility between the countries has only worsened in the six months since Hamas launched its attack on Israel, which set off a war that continues to threaten to drag the entire region towards a broader conflict. Here is a look at the key events leading up to Iran's assault: HAMAS ATTACKS ISRAEL Oct. 7 - Thousands of Hamas-led militants storm across the border into Israel, killing 1,200 people, mostly civilians, and taking roughly 250 captive, according to Israeli authorities. The assault triggers a devastating war that has killed more than 33,700 people, mostly women and children, according to local health officials. In launching the assault, Hamas hopes other regional enemies of Israel's will join. U.S. President Joe Biden warns Israel's regional foes not to get involved and sends military support to the Middle ...

US predicts Iran attack on Israel, says doesn't want to be drawn into war

The United States has been on high alert about possible retaliatory strikes from Iran and US envoys have been working to lower tensions

Israel threatens to strike Iran if it launches attack from its territory

Israel's foreign minister threatened Wednesday that its country's forces would strike Iran directly if the Islamic Republic launched an attack from its territory against Israel, as tensions between the rival powers flare following the killings of Iranian generals in a blast at the Iranian consulate in Syria. If Iran attacks from its territory, Israel will respond and attack in Iran, Israel Katz said in a post on X in both Farsi and Hebrew. The remarks came after Iran's Supreme Leader Ayatollah Ali Khamenei reiterated early Wednesday a promise to retaliate against Israel over the attack on its consulate in Damascus earlier this month. Tehran holds Israel responsible for the strike that leveled the building, killing 12 people. Israel has not acknowledged its involvement, though it has been bracing for an Iranian response to the attack, a significant escalation in their long-running shadow war. Khamenei spoke at a prayer ceremony celebrating the end of the Muslim holy month of Ramadan

US blocks 13 ships facilitating illicit trade in support of Iran's military

Iran-backed Houthis have also launched attacks on commercial vessels and US naval assets using Iranian-made UAVs and missiles, according to the US State Department

We had nothing to do with it: US after attack on Iranian consulate in Syria

Shortly after an airstrike widely attributed to Israel destroyed an Iranian consulate building in Syria, the United States had an urgent message for Iran: We had nothing to do with it. But that may not be enough for the US to avoid retaliation targeting its forces in the region. A top US commander warned on Wednesday of danger to American troops. And if Israeli Prime Minister Benjamin Netanyahu's recent broadening of targeted strikes on adversaries around the region to include Iranian security operatives and leaders deepens regional hostilities, analysts say, it's not clear the United States can avoid being pulled into deeper regional conflict as well. The Biden administration insists it had no advance knowledge of the airstrike Monday. But the United States is closely tied to Israel's military regardless. The US remains Israel's indispensable ally and unstinting supplier of weapons, responsible for some 70% of Israeli weapon imports and an estimated 15% of Israel's defense budget.

Highlights: BJP fields ex-diplomat Taranjit Sandhu from Amritsar, singer Hans Raj Hans from Faridkot, ex-Cong MP Preneet Kaur from Patiala for LS 2024

From Amit Shah's visit to Assam to US Federal Chair Jerome Powell's statement on interest rates and keeping an eye on inflation, track all the news from around the world here

US imposes more sanctions on Iran, Syria penalised for drug trafficking

The United States on Tuesday imposed sanctions on a money exchanger and a group of firms across six countries involved in commodity shipments and business transactions that benefit Iran's military and the Houthi militant group in Yemen and the Hezbollah militia in Lebanon. The Treasury Department's Office of Foreign Assets Control sanctioned six firms, two tankers and a money exchanger, all either based or registered in Liberia, India, Vietnam, Lebanon or Kuwait. They are accused of materially benefiting Iran, the Houthis and Hezbollah. Hezbollah and the Houthis have been launching regular attacks since the onset of Israel's war against Hamas in Gaza, and they have sparked international concern that the war in the Palestinian enclave could spill over into the rest of the Middle East. Hezbollah militants and Israeli troops exchange fire on a near-daily basis along Lebanon's southern border, which has led to the displacement of tens of thousands of people on both sides. Despite losing

Iran condemns UN's report on protest crackdown, calls it "false and biased"

Iran's Foreign Affairs Minister spokesperson, Nasser Kanaani, said that the report was built on "baseless claims" and "false and biased information, without a legal basis"

Amid tensions, Iran to elect parliamentary, religious leaders today

Iranians are bracing for a pivotal moment as they prepare to cast their votes on Friday in parliamentary elections that will elect religious leaders, Al Jazeera reported.

Iran increased its total stockpile of uranium: UN nuclear watchdog report

Iran has further increased its total stockpile of uranium, according to a report by the United Nations' nuclear watchdog seen by The Associated Press on Monday, and continues to bar several of the most seasoned inspectors from monitoring its nuclear programme. The International Atomic Energy Agency also said in a second confidential report, distributed to member states, that Tehran made no progress in explaining the presence of manmade uranium particles found at two locations. The IAEA estimated in its quarterly report that as of February 10, Iran's total enriched uranium stockpile was at 5,525.5 kilograms (about 12,182 pounds), an increase of 1,038.7 kilograms (2,289 pounds) since the last quarterly report in November 2023. It also said that according to its assessment, Iran has an estimated 121.5 kilograms (267.8 pounds) of uranium enriched up to 60 per cent purity, which represents a decrease of 6.8 kilograms (14.9 pounds) since the last report in November 2023. The decrease is t