Latest news with #ArmedForcesGeneralStaff
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First Post
16-05-2025
- Business
- First Post
China buys oil from Iran, Trump's treasury goes after Hong Kong banks for facilitating shipments
According to the Trump administration, revenue from the oil sales was used to fund Iran's ballistic missile and drone programs, support nuclear proliferation, and enable Houthi attacks on Red Sea shipping routes, the U.S. Navy, and Israeli targets. read more As part of the Trump administration's 'maximum pressure' campaign against Iran, the US Treasury Department has imposed sanctions on over 20 companies accused of facilitating the shipment of Iranian crude oil worth billions to China. These sanctions target groups involved in Iran's alleged illicit oil trade including multiple Hong Kong-based entities alleged to be front companies for Sepehr Energy, a commercial affiliate of Iran's Armed Forces General Staff. These companies reportedly brokered crude oil deliveries to Chinese independent refineries, known as 'teapots,' and funnelled proceeds back to Iran to support its ballistic missile programs and regional terrorist groups. STORY CONTINUES BELOW THIS AD The US Treasury delegation also met with Hong Kong banks in April to warn them against facilitating Iran oil shipments to China just a month before sanctioning nine non-bank entities in the city allegedly involved in such trades, according to people familiar with the matter told Bloomberg. The delegation emphasised the risks of engaging in transactions related to Iran's oil trade, highlighting potential sanctions and reputational damage. The sanctions also target Sepehr Energy's fleet of old 'shadow fleet' tankers. This crackdown marks a strategic move to curtail Iranian oil exports amidst ongoing nuclear negotiations and represents a tougher stance than the previous Biden administration. Trump pushes diplomacy but warns of more Iran sanctions President Trump expressed hopes for a diplomatic resolution but warned of intensified pressure if Iran rejects this approach, accusing it of funding Tehran's ballistic missile and drone programs, nuclear proliferation, and Houthi attacks on maritime traffic in the Red Sea. Trump's administration said the move is part of a broader effort to curb Iran's support for terrorism and weapons proliferation. However, China criticised the US sanctions, accusing Washington of unlawfully extending its jurisdiction and undermining global trade norms. The US State Department said that the targeted network helped ship oil worth billions of dollars on behalf of Iran's Armed Forces General Staff. The oil sales generated billions of dollars used to finance Iranian military activities and attacks by the Houthi militant group in the Red Sea, as well as aggression against the US\ Navy and Israel. 'The United States will continue targeting this primary source of revenue, so long as the regime continues its support for terrorism and proliferation of deadly weapons,' Treasury Secretary Scott Bessent said in a statement. Pressure on Chinese Banks While recent US actions have ramped up pressure on both Iran and China, experts say a broader impact would require sanctions on major Chinese financial institutions. In a possible sign of escalation, the U.S. Treasury's Office of Foreign Assets Control (OFAC) used a counterterrorism authority for its latest sanctions—a legal tool that offers broader flexibility in targeting foreign entities. Jeremy Paner, a partner at Hughes Hubbard & Reed and former OFAC investigator, told Reuters that the move may be aimed at increasing indirect pressure on Beijing. 'I believe today's actions are more about triangulation by exerting pressure on China to convince Iran to accept a deal,' he said. He added that Chinese banks are well aware of their exposure under US sanctions law, especially when counterterrorism provisions are involved. STORY CONTINUES BELOW THIS AD Despite the sanctions and tensions, both Tehran and Washington maintain that they favour a diplomatic resolution to the long-running nuclear dispute. However, fundamental disagreements such as Iran's uranium enrichment program continue to block progress in the talks.
Mint
14-05-2025
- Business
- Mint
Crude oil prices recover 13% from May lows to reach 2-week high. What's fueling the rebound?
Crude oil prices, which had come under pressure earlier this month due to fears of a global economic slowdown amid rising trade tensions, geopolitical tensions, and supply concerns, have since stabilized, fueling a rebound in both Brent and WTI futures. Brent crude futures retreated in Wednesday's session, dropping 0.72% to a low of $66.15 per barrel. However, they have recovered nearly 12% from the May 5 low of $59.57 to trade at 2-week high of $66.49. Likewise, WTI crude futures have reached 2-week high of $63.5 per barrel after rebounding nearly 13% from the May 5 low of $56.46. The majority of the rebound in crude oil prices has been driven by optimism over easing global trade tensions, which has boosted expectations that demand for crude oil may not be as severely impacted as feared earlier this month. The U.S. is currently engaged in active discussions with several major trading partners to finalize trade deals, the latest being announced with China and the United Kingdom. The U.S. and the U.K. struck a trade deal last week, and optimism improved further when the U.S. and China announced on Monday a 90-day pause in their trade war. This pause involves rolling back reciprocal tariffs and removing other measures while they negotiate a more permanent arrangement. Overnight data showed softer-than-expected U.S. consumer inflation, sending the U.S. dollar down by 1%. The dollar is currently hovering around the 100 mark, making dollar-denominated commodities more attractive. Data released Tuesday showed headline inflation eased to 2.3% in April, its lowest level since February 2021, and slightly below market forecasts of 2.4%. With U.S. inflation data now behind the markets, the next major signal for the U.S. economy is April retail sales data, due Thursday. On the same day, talks are scheduled between Ukraine and Russia in Istanbul, raising hopes for a ceasefire three years into Europe's deadliest conflict since World War Two. On Tuesday, the U.S. imposed fresh sanctions on about 20 companies it accused of helping Iran's Armed Forces General Staff and its front company, Sepehr Energy, ship Iranian oil to China. The move follows the fourth round of U.S.-Iran talks in Oman aimed at resolving disputes over Iran's nuclear program. API data showed that crude inventories surged by 4.29 million barrels last week—the largest increase in six weeks—defying forecasts of a 2.4-million-barrel drop. However, gasoline inventories fell by 1.4 million barrels, while distillate stocks declined by 3.7 million barrels. Meanwhile, earlier this month, Organization of the Petroleum Exporting Countries (OPEC) has raised oil output by more than previously expected since April, with May output likely to increase by 411,000 barrels per day. Meanwhile the market is also closely watching U.S. President Donald Trump's Gulf visit, which began Tuesday with an appearance at an investment forum in Riyadh. There, he announced the lifting of longstanding U.S. sanctions on Syria and secured a $600 billion pledge in Saudi investment. (With inputs from Reuters) Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Shafaq News
13-05-2025
- Business
- Shafaq News
US renews pressure on Iran with China oil sanctions
Shafaq News/ On Tuesday, the United States imposed sanctions on a shipping network accused of transporting millions of barrels of Iranian oil to China, just two days after US and Iranian officials concluded a fourth round of nuclear talks in Oman. According to the US State Department, the sanctioned network facilitated shipments worth billions of dollars on behalf of Iran's Armed Forces General Staff and its front company, Sepehr Energy. The oil revenues, it alleged, helped fund Iran's weapons programs and attacks carried out by Yemen's Houthi group against commercial shipping in the Red Sea, as well as assaults targeting the US Navy and Israel. The measures target intermediaries responsible for routing crude shipments to Chinese buyers, the State Department added. Iran's Foreign Ministry criticized the US moves, calling them incompatible with the spirit of the recent talks. Ministry Spokesperson Esmaeil Baqaei told Iranian media that 'in recent days, the US has imposed new sanctions on Iran. This is completely incompatible with the process of negotiations and will certainly affect our position.' Despite expressions of diplomatic intent, wide gaps remain between the two governments. Washington has called on Iran to curb its enrichment program and comply with inspections, while Tehran has demanded a full lifting of sanctions and security guarantees. Trump, who returned to office in January, has reinstated the 'Maximum Pressure' campaign on Iran, warning that the US is prepared to act militarily if diplomacy fails.
Yahoo
30-04-2025
- Politics
- Yahoo
Trump claims 5,000 Russian, Ukrainian soldiers killed each week. Here's what the numbers say
After the deadliest attack on Kyiv since last summer killed 13 civilians, U.S. President Donald Trump appeared to lose patience with Russia, posting on social media, 'Vladimir, Stop! 5,000 soldiers a week are dying. Let's get the peace deal done!' Trump repeated a number he's cited in the past to push for a quick resolution of the war in Ukraine, without evidence to back up his statement. Although his figure is far higher than public estimates, a lack of official data to counter his claims meant it was widely quoted with only limited pushback. Both Ukraine and Russia closely guard their numbers as state secrets, leaving an information void that others have tried to fill. The true death toll is a matter of intense debate, but experts have used open sources and intelligence estimates to try and calculate how many Ukrainian and Russian troops have died throughout the war. Here's what we know. Exact numbers vary, but all experts agree — Russia is losing far more troops than Ukraine. Using open sources, BBC Russia and Mediazona, a Russian independent media outlet, have collected the names of more than 100,000 Russian soldiers killed since the full-scale invasion began in February 2022. When adjusting to account for soldiers whose names may not appear publicly in cemeteries, obituaries, and war memorials, BBC Russia stated that the true death toll could range somewhere between 158,885 to 229,500 Russian soldiers. Ukraine's Armed Forces General Staff publishes daily estimates of Russia's troop losses, but does not separate deaths from those who are wounded. The combined casualties total 951,960 as of April 30. The General Staff has not released details on how these estimates are calculated. In January, then-U.S. defense secretary said Russia had suffered more than 700,000 casualties, combining both deaths and injuries. Although Ukraine has avoided publishing its own troop loss figures for most of the war and has reportedly withheld them from its allies, President Volodymyr Zelensky said on Feb. 16 that over 46,000 Ukrainian soldiers had died on the battlefield since February 2022. Unofficial estimates put the number higher, however. There are tens of thousands of soldiers missing who are not included in the count. Additionally, confidential sources cited by the Wall Street Journal in September and by the New York Times in August of 2023 named Ukrainian troop deaths of 80,000 and 70,000, respectively. Kyiv has pushed back on these estimates. The Kyiv Independent was not able to independently verify the figures provided by different sources. Despite the gap in losses, Russia still has a much larger military and a much larger population to draw on in its recruiting efforts. Because of this, it has managed to continue grinding forward on the battlefield while sustaining high losses. Read also: Every finding is a key: The mission to recover Ukraine's fallen soldiers (Photos) Across more than three years of war, the average number of soldiers killed weekly — even when looking at the higher end of public estimates for both Russia and Ukraine — comes out to far below what Trump cites, at less than 2,000 each week. Losses have risen compared to the start of the full-scale invasion, and daily and weekly tolls fluctuate depending on battlefield conditions. Casualties rose during the costly Battle of Bakhmut in late 2022 and early 2023, and rose again at the end of 2024 amid increased fighting. Multiple sources — including Ukraine's Commander-in-Chief Oleksandr Syrskyi — say around half of the Russian troop losses occurred in 2024 as Russia stepped up its infantry assaults. Around 7,000 Russian troops died and another 8,000 were injured near Pokrovsk alone in January, according to Syrskyi. Fighting has concentrated there near the crucial logistics hub at Ukraine's eastern front line. Even when factoring in higher losses of late, the average combined death toll for Ukraine and Russia each week falls short of Trump's comments. Read also: 'A very bloody war' — What is the death toll of Russia's war in Ukraine? We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
23-03-2025
- Politics
- Yahoo
Ukrainian Air Force strike 'completely destroys' Russian troop position in Toretsk
Ukraine's Air Force struck and destroyed a concentration of Russian troops in Toretsk, Donetsk Oblast on March 21, the Armed Forces General Staff reported on March 23. Ukraine's attack reportedly 'completely destroyed' the position of the troops from the 1st Separate Guards Motorized Rifle Brigade of the 103rd Motorized Rifle Regiment who were hiding in their shelter in the city of Toretsk. Among the casualties were airborne assault groups and drone operators, the General Staff claimed.'Exact numbers are still being clarified, but the destruction of their shelter and personnel greatly diminishes the ability of the Russian military to operate effectively in the Toretsk axis,' the General Staff wrote in a Telegram message which was accompanied by a video of the strike. 0:00 / 1× Toretsk, which lies roughly 20 kilometers southwest of Bakhmut, has seen fierce fighting in recent months and Ukraine launched a counterattack in late February and early March. The city is largely occupied by Russian troops. President Volodymyr Zelensky visited the nearby city of Pokrovsk on March 22, where he previously said the situation had recently stabilized amid hotly contested battles. He warned that Russia is attempting renewed offensives in various parts of the front line, including in Kharkiv March 23, Ukraine's Third Assault Brigade announced it had liberated the village of Nadiya in Luhansk Oblast. The developments take place as Ukraine meets with U.S. officials in Saudi Arabia on March 23 to discuss a ceasefire proposal. The U.S. will also meet with Russian officials in Riyadh on March 24. Read also: Trump says efforts to end Ukraine war 'somewhat under control' just hours before deadly Russian drone strike on Kyiv We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
