The deal shifts the US posture towards India from hostile to neutral, and that matters for growth, points out T T Ram Mohan.
The US Department of the Treasury on Wednesday imposed sanctions on Russia's two largest oil companies, Rosneft and Lukoil, in an effort to pressure the Kremlin to end its war in Ukraine.
The United States Trade Representative (USTR) office on Wednesday launched a sweeping investigation into manufacturing and industrial practices in 16 economies, including India, citing concerns over what it calls 'structural excess capacity' that could distort global trade. Announcing the move on a White House press call, Jamieson Greer said the probe would be conducted under Section 301 of the Trade Act of 1974, one of Washington, DC's most powerful trade enforcement tools.
The call came before Iran's new supreme leader Mojtaba Khamenei vowed vengeance and urged citizens to continue their fight against the attacks by US and Israel.
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.
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 Trump administration has launched a premium immigration programme targeting wealthy individuals worldwide, offering permanent residency in the United States through expensive 'Gold Cards' that could generate billions in revenue for the American Treasury.
The United States and Ukraine have signed an 'economic partnership agreement,' giving Washington, DC access to Ukraine's rare earth minerals in return for creating an investment fund in the country, CNN reported.
The 18 companies sanctioned include Marshall Islands-registered Changtai Shipping and Motionavigations Limited and UAE-based Indo Gulf Ship Management.
Finance Minister Nirmala Sitharaman on Tuesday, April 11, 2023, met with US Treasury Secretary Janet Yellen in Washington, DC.
The statement did not name any country. But the US has often blamed India and China for purchasing Russian oil even when there are no tariffs on Beijing for it.
The US treasury department informed about the sanctions following the October 7 attacks on Israel by Hamas.
The US has sanctioned an Indian national based in the United Arab Emirates and two India-based entities for operating as part of Iran's shadow fleet and involved in shipping Iranian oil. The US Department of the Treasury said Jugwinder Singh Brar, who owns multiple shipping companies, operates as part of Iran's shadow fleet, which the US said is used to evade sanctions and transport Iranian oil. Brar also owns or controls India-based shipping company Global Tankers Private Limited and petrochemical sales company B and P Solutions Private Limited. The sanctions come as part of a US campaign of maximum pressure on Iran and target the country's petroleum and petrochemical sectors.
In trying to portray a globally sanctioned terrorist as a 'common man', Pakistan was exposed when its top official publically outed crucial details about Hafiz Abdul Rauf, including his national identity number which matched details in the database of the United States sanction list of terrorists.
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
I am inclined to believe that the Venezuela adventure is not an indication of American strength, alas, but rather of American weakness, points out Rajeev Srinivasan.
The move by the US President came following a retaliatory move by China, where it increased its tariff on US goods from 34 per cent to 84 per cent starting April 10.
Yellen, 74, was confirmed by the Senate in a broad bipartisan support of 84-15 votes on Monday. Both the Democratic and the Republican parties have 50 members in the 100-seat Senate.
United States President Donald Trump has announced that Washington DC will stop minting pennies, citing their high production cost, which exceeds their face value and termed the practice "wasteful." President Trump said Sunday that he has instructed Treasury Secretary Scott Bessent to "stop producing new pennies."
'Grassroots-level corruption, which disrupts the last-mile work, cannot be ignored in your enthusiasm and drive to get going to complete the project.' 'Like it was in MGNREGA, in some states, it is the case with the Jal Jeevan mission.' 'The last minute levels of corruption can ruin the intent of the project itself.' 'When you see that people can game a particular well-intended and well-crafted project, you need to correct that.'
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
The United States has imposed sanctions on 275 individuals and entities, including 15 from India, for allegedly supporting Russia's military-industrial base.
US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.
On Wednesday, protests erupted across the United States in response to President Donald Trump's recent actions.
US President Donald Trump has imposed tariffs and a travel ban on Colombia after the South American nation refused to accept two American military planes deporting undocumented Colombians. The move comes after President Trump announced mass deportations of illegal immigrants and warned countries of consequences if they refuse to accept them. Colombian President Gustavo Petro, in a post on X, said that the US cannot treat Colombian migrants as criminals and denied the entry of American planes carrying Colombian migrants into Colombian territory. Trump responded by imposing a 25% tariff on all goods coming into the US, a travel ban and immediate visa revocations on Colombian government officials, and visa sanctions on all party members, family members and supporters of the Colombian government. The US also announced enhanced customs and border protection inspections of all Colombian nationals and cargo on national security grounds. In retaliation, Colombia announced a 25% import tariff on American products.
The United States Department of Government Efficiency (DOGE), led by Elon Musk has announced cancelling a $22 million funding intended for 'voter turnout in India' on Saturday (Local Time).
Meanwhile, US President Joe Biden condemned Russia's annexation of Ukrainian territory on Friday.
Take the rediff quiz and find out how much you know about budget.
We the people are left in the wind, waiting on the whims of an unengaged president and an oligarch with a nearly bottomless wallet, observes Sree Sreenivasan.
The United States has announced sanctions against 14 senior Myanmar officials, and called on India, China and other nations to support the people of Myanmar who were struggling for democracy.
The United States on Wednesday slapped sanctions on an Afghan drug trafficking network and designated two leaders -- Shah Mohammad Barakzai and Haji Baz Mohammad -- as Specially Designated Narcotics Traffickers.
Pakistan on Friday freed Saeed, the Lashkar-e-Tayiba founder, who immediately launched his anti-India rhetoric and vowed to mobilise people for the "cause of Kashmir".
The move has apparently been taken in view of the drug peddler's attempts to enter the US for setting up business. \n\n
The United States government appointed pay czar will review the executive compensation packages at 419 bailed out companies including Goldman Sachs and JP Morgan Chase.
If Beijing succeeds in this multipronged effort to challenge the current dominant power, it will have not just economic but political and security consequences. There is no let-up in the South China Sea nor any de-escalation moves on the India-China border. This portends to ominous signalling from Beijing, observes China expert Srikanth Kondapalli.
Days ahead of the second US- China Strategic and Economic Dialogue, the United States has reiterated that China needs to move towards a market-oriented exchange rate.
WazirX lost about 45 per cent of its crypto assets to the security breach. People privy to the discussions say North Korea has been mentioned.
'The banking channel is gradually becoming the most preferred way of transaction for terrorist outfits.'
The United States government may own 70 per cent stake in the restructured General Motors, the ailing auto maker which is battling to avert a possible bankruptcy.
Rediff.com brings you a series of leaked Wiki cables, which point towards some startling revelations. Read on
