Venezuela has approved one of the most far-reaching reforms of its oil industry in over two decades, marking a dramatic shift away from strict state control and opening the door for greater private and foreign participation. The National Assembly passed the amended hydrocarbons law in a final vote this week,…
Tag: #USSanctions
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India’s Chabahar Withdrawal: Geopolitical Ripples
India has reportedly scaled back its involvement in Iran’s Chabahar port following potential sanctions threats from the United States. The move, highlighted by US President Donald Trump’s announcement of a 25% tariff on any business conducted with the US by nations engaging with Iran, has triggered debate over India’s strategic…
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Oil Prices Surge 5% After US Sanctions on Russian Giants
Global oil prices spiked sharply on Thursday after the United States imposed sweeping sanctions on Russia’s largest oil companies, Rosneft PJSC and Lukoil PJSC. Brent crude surged by more than 5%, trading near $66 a barrel — its biggest single-day gain since the Israel-Iran conflict began in mid-June. The sanctions,…
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U.S. Sanctions 8 Indians, Firms in Iran Energy Crackdown
Washington: The U.S. has imposed sanctions on eight Indian nationals and several India-based firms for allegedly facilitating Iranian energy trade, marking a significant move in its ongoing effort to curb Tehran’s global revenue streams. The Department of State announced that around 40 entities, individuals, and vessels were sanctioned to “deny…