Canadian Energy Minister Jonathan Wilkinson stated that Canada will respond to US tariffs and emphasized that it is not seeking to escalate trade tensions between the two nations.
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The spokesperson for Iran's Foreign Ministry dismissed claims made by Reuters regarding the halting of Iranian oil tankers, labeling them as fabricated, false, or biased reporting.
US President Donald Trump said that India has agreed to “cut their tariffs way down,” signalling a potential shift in trade relations between the two countries.
Iran says Washington's continuation of its so-called "maximum pressure" policy against Tehran is tantamount to "crime against humanity," stressing that the failed policy will not yield new results for Washington.
The Trump administration is considering stopping and inspecting Iranian oil tankers at sea under an international agreement to prevent the spread of weapons of mass destruction.
Iran and Brazil have agreed to expand their financial and banking relations, with a focus on using national currencies in bilateral trade and leveraging banking infrastructure for economic cooperation.
PGPIC CEO emphasizes new plans to maintain economic momentum, stating serious financing solutions are needed even amidst sanctions, acknowledging that no solutions are impossible.
The US sanctioned over 30 individuals and vessels, including four Indian firms, for their role in the sale and shipping of Iranian oil. The sanctions come amid ongoing efforts to curb Iran's oil exports, which primarily go to China using a network of shadowy intermediaries and vessels.
The United States imposed a fresh round of sanctions targeting Iran's oil industry on Monday, hitting more than 30 brokers, tanker operators, and shipping companies for their role in selling and transporting Iranian petroleum, the Treasury Department said.
Sanctions have slashed Russian oil exports to India by about a quarter in February while the US oil exports have nearly doubled amid the country's plan to increase the purchase of American energy by two-thirds to $25 billion.
US President Donald Trump’s recent proposal to sell more oil and gas to India could significantly reduce New Delhi’s purchases of discounted Russian oil, thought to be funding Moscow’s war with Ukraine.
Trump announced an agreement with Indian Prime Minister Modi, involving India importing more US oil and gas to reduce trade deficit between the two nations.
The president of Iran and the national leader of Turkmenistan stressed the importance of expanding gas cooperation and strengthening peace and trust in the region.
Indian oil firms are discussing long-term LNG purchases with US suppliers ahead of Modi's meeting with Trump, seeking favorable terms amid India's efforts to reduce reliance on dirtier fuels.
Iran's Oil Minister Mohsen Paknejad dismissed the US policy of exerting maximum pressure to curb Iran's oil exports as a failed strategy, emphasizing that reducing the Islamic Republic's oil exports to zero is an unattainable goal.
President Trump declared a national energy emergency as soon as he took office. The declaration had the goal of facilitating growth in energy supply or, as Trump likes to call it "Drill, baby, drill." Yet this time, Baby doesn't feel much like drilling. And it's saying this loud and clear.
The U.S. Treasury said on Thursday it is imposing new sanctions on a few individuals and tankers helping to ship millions of barrels of Iranian crude oil per year to China, in an incremental move to boost pressure on Tehran.
Iran’s president emphasized the importance of adopting modern techniques to optimize energy consumption, stating that proper energy use would allow the country to save resources and sell more oil and gas at global market prices.
Shortly after tariffs on China imposed by U.S. President Donald Trump took effect on Tuesday, China's Finance Ministry said it would impose levies of 15% on imports of U.S. coal and LNG and 10% for crude oil as well as on farm equipment and some autos.
Reportedly, India has to unload oil from Russian tankers under US sanctions by February 27 and complete all financial transactions with them by March 12. These deadlines were set by the Office of Foreign Assets Control (OFAC) of the US Treasury.