US Treasury Secretary Scott Bessent's remarks come ahead of a high-level summit where India and the European Union are expected to formally announce the conclusion of negotiations on a comprehensive free trade agreement.
In a major shift in Middle Eastern energy and security dynamics, the US Department of the Treasury on Monday issued a temporary 60-day general licence authorising transactions related to the production, delivery, and sale of Iranian crude oil, petrochemicals, and petroleum products.
The US Treasury Department is exploring the possibility of featuring Donald Trump's portrait on a new $250 note, pending congressional approval to amend the law that prohibits living individuals from being depicted on US currency.
India bought 1.87 million barrels of Russian oil per day in May so far, meeting approximately 40 per cent of its oil imports.
A source familiar with US Treasury Secretary Scott Bessent's thinking revealed on Saturday that the department "intends to utilise all available authorities to make Iranian assets accessible for rebuilding and repair efforts related to any future damage inflicted by Iran."
A peace deal between the US and Iran, set to be signed in Geneva, faces significant hurdles over the release of Iran's USD 12 billion in frozen assets, with conflicting reports from both sides on the conditions for their release.
US Secretary of State Marco Rubio on Tuesday said the United States would prefer to end its extension of waivers on Russian oil "as soon as possible", while noting that such decisions ultimately rest with the US Treasury Department.
US President Donald Trump and Chinese President Xi Jinping began a crucial two-day summit in Beijing on Thursday, with both leaders signalling a desire to stabilise relations between the world's two biggest economies despite deep disagreements on trade, Taiwan, technology and security issues.
Bessent indicated that the U.S. is evaluating the status of Iranian oil as the current campaign progresses.
US President Donald Trump's signature will soon appear on US paper currency, coinciding with the 250th anniversary celebrations of American Independence.
The United States has temporarily lifted sanctions on the sale of Iranian oil already in transit to ease soaring global crude prices, making 140 million barrels available to the market.
The United States has announced it will not renew sanctions exemptions for the purchase of Russian and Iranian oil, ending a 30-day waiver that allowed some countries, including India, to continue importing Russian oil despite sanctions related to the Ukraine war.
US President Donald Trump met with Chinese President Xi Jinping in Beijing to discuss trade, technology, Taiwan, and the Iran war. Xi Jinping said that 2026 will be a 'historic, landmark year' for China-US relations.
The Trump administration has announced a temporary authorisation for countries to purchase Russian oil stranded at sea, aiming to stabilise global energy markets amid rising oil prices and tensions with Iran.
The United States has extended a waiver from sanctions to allow countries to buy petroleum products from Russia by a month, days after it ruled out renewal of the special measure.
US President Donald Trump and Chinese President Xi Jinping met in Beijing to discuss a range of issues, including trade frictions and the war in Iran.
US President Donald Trump will visit China from May 13 to 15 at the invitation of President Xi Jinping. The visit occurs amidst global tensions, including the war in West Asia and trade disputes between the US and China. Discussions are expected to cover China-US relations, world peace, and economic issues.
US President Donald Trump is set to visit China for talks with President Xi Jinping on trade, global issues, and the Gulf war. The visit aims to address trade frictions and other key issues, with high expectations for progress.
When asked about Bessent's announcement allowing certain Russian oil sales to India and whether the US is considering any other moves, including tapping the Strategic Petroleum Reserve (SPR), Trump said, "If there were some, I would do it just to take a little of the pressure off."
US President Donald Trump received a red carpet welcome in Beijing for talks with Chinese President Xi Jinping on trade, the Iran war, and other key issues. The visit underscores the importance both nations place on their relationship amid ongoing tensions.
Chinese President Xi Jinping warned US President Donald Trump that mishandling the Taiwan issue could trigger conflicts between the two countries during wide-ranging talks on trade, Iran, and energy security.
Trump administration will use "alternative legal authorities" to enforce tariffs on the countries, assuring that the tariff revenue will remain unchanged.
The United States has encouraged India to purchase Russian oil already at sea to mitigate supply shortages and price increases amid the West Asia conflict, according to Energy Secretary Chris Wright. This move is described as a short-term effort to stabilise the market without altering Washington's policy towards Russia.
The Congress has strongly criticised the US government's temporary waiver allowing India to purchase Russian oil, raising concerns about continued 'American blackmail' and its impact on India's energy policy.
US Treasury Secretary Scott Bessent indicated a potential pathway to remove tariffs imposed on India for purchasing Russian oil, citing a significant decrease in such purchases. He also criticized Europe's approach and accused India of profiting from discounted Russian oil.
The US has temporarily permitted India to accept Russian oil already on ships to ensure energy supplies amid the conflict with Iran. This short-term measure is not expected to significantly benefit Russia financially.
US President Donald Trump has renewed his call for a high-security ballroom at the White House, citing security concerns after a shooting incident near a journalists' dinner he attended.
The US has granted India permission to buy Russian oil already in transit to ease global supply pressures amidst the West Asia conflict. This decision comes after India agreed to halt sanctioned Russian oil purchases and substitute them with US oil.
US President Donald Trump has claimed that China has committed to halting weapon supplies to Iran, following his personal diplomatic interventions with Chinese President Xi Jinping.
US Energy Secretary Chris Wright said that long-term oil supplies are 'abundant' and there are no worries regarding that, but in the short term, there is a need to get oil on the market.
The Kremlin has announced it will not disclose data on crude oil exports to India, citing concerns about 'ill-wishers'. This decision follows reports of increased Russian oil supplies to India and China amid geopolitical tensions.
Trump was swiftly evacuated from the White House Correspondents' Dinner after a shooting incident near the venue.
Amidst escalating tensions with Iran, the US has granted India a temporary 30-day waiver to continue purchasing Russian oil, aiming to stabilise global energy markets and encourage future US oil imports by India.
US President Donald Trump has indefinitely extended the ceasefire with Iran at the request of Pakistan, aiming to allow Tehran's leadership time to form a unified proposal to end the seven-week war.
In the wake of the FTA between India and the European Union, the United States has described the Europeans as 'very disappointing', saying they were unwilling to join Washington, DC in putting tariffs on New Delhi for its purchases of Russian oil because of this trade deal.
As in-person negotiations between India and the US kickstarted on Wednesday, Treasury Secretary Scott Bessent said he expected India to strike the first bilateral trade deal to avert President Donald Trump's reciprocal tariffs.
The clock on the ceasefire is running out. But everyone's already whispering about round two, possibly as soon as this weekend.
Both sides have now revealed a preference for escalation over strategic defeat, and each new provocation narrows the space for the next pause. The Touska seizure, Iran's refusal to negotiate under blockade, Israel's strikes on Iranian oil infrastructure -- all of these add up to an increasingly untenable situation. This makes the wild card -- Trump and his motormouth -- more consequential than ever, notes Prem Panicker in his must read blog on the Iran War.
Alliances fight wars effectively only when they share an endgame. If Israel acted without US knowledge, then the military alliance is operating without real coordination at the level of strategic targeting. Neither picture is reassuring in a war that is no longer regional in its consequences. Prem Panicker continues his must read daily blog on the Gulf War.
'The entire US ecosystem built over decades at the bases in the Gulf region, especially the UAE, costing trillions of dollars have been decimated, dealing a mortal blow to the US Central Command's war capability,' points out Ambassador M K Bhadrakumar.
