Iran has increased its energy export prices by 20% following the suspension of US sanctions on its oil sales, according to Parliament Speaker Mohammad Bagher Ghalibaf. He stated that Iranian oil is now trading at higher prices and revenues are being transferred to accounts.
Polish PM Donald Tusk cautioned against a political conflict with Ukraine, calling it a strategic mistake. This follows Poland revoking Zelenskyy's top honor after he supported renaming a unit after nationalists who massacred Poles in WWII. Meanwhile, Ukraine's attacks on Russian fuel supplies in Crimea have led to civilian gas sales suspension.
US and Iran, with Pakistan as intermediary, have agreed to end the Middle East war. Washington seeks to monitor Tehran's oil revenue spending and ensure Hezbollah ceases attacks on Israel. Trump suggests charging ships passing through the Strait of Hormuz.
Kuwait has launched a new 15-year residency program for eligible foreign investors, business owners, and senior executives to attract global capital and talent. The initiative aims to boost FDI, create jobs, and diversify the economy away from oil, aligning with regional trends like the UAE's Golden Visa.
British armed forces, including Royal Marines and NCA officials, intercepted the sanctioned Russian shadow fleet oil tanker Smyrtos in the English Channel on Sunday. This marks the first operation to disrupt oil revenue funding Russia's war in Ukraine. Ukrainian President Zelensky thanked Britain and called for further legislative steps.
Senator Rubio outlined three conditions for free and fair elections in Venezuela: independent press, organized political parties, and a new electoral council. He also defended the management of Venezuela's oil revenues, stating funds are audited by KPMG and held in a blocked Citibank account, ensuring no personal benefit.
Ukrainian drones struck the Syzran oil refinery in Russia, over 800km inside the country, causing a fire and killing two people. President Zelenskyy stated this is part of a broader plan targeting Russian oil revenues amid escalating attacks.
Iran's economy faces severe difficulty from war damages, inflation, currency devaluation, unemployment and oil revenue contraction. Estimates suggest damage from US-Israeli attacks is nine times last year's budget, with 4.1 million more Iranians potentially falling into poverty. Despite Trump's prediction of Iran 'choking,' tankers are making it through the naval blockade, though the toman has fallen 22% against the dollar and inflation stands at 73.5%. The political elite is questioning how hardline they can afford to be with US negotiators.
The US Treasury Department has sanctioned Hengli Petrochemical (Dalian) Refinery Co., one of China's largest private refiners, over alleged links to Iranian oil. The 400,000-barrel-per-day facility in Liaoning province represents Washington's most significant action yet against China's refining sector. Hengli denies the allegations and plans to settle future crude purchases in Chinese yuan. The sanctions could disrupt supply chains across East Asia, affecting chemical, synthetic fibre, and textile manufacturers, with at least two Asian customers already canceling orders.
The US Treasury Department announced fresh sanctions on a major China-based oil refinery and approximately 40 shipping companies and tankers linked to Iranian oil transport. The measures target what Washington describes as an extensive shadow network moving Iranian crude to global markets, part of the broader 'maximum pressure' campaign and 'Economic Fury' initiative to restrict Iran's oil income. China criticized the move, accusing Washington of abusing unilateral sanctions. China remains the largest buyer of Iranian oil, accounting for over 80% of exports.
