Iran War: Trump’s Hormuz Blockade Tests U.S. Ties with China and India The U.S. blockade of the Strait of Hormuz has intensified diplomatic tensions with two key Asian allies—China and India—as Washington’s maximum pressure campaign on Iran risks destabilizing fragile relationships. The move, which has disrupted global oil flows, has exposed vulnerabilities in both nations’ energy dependencies while raising concerns about potential miscalculations that could escalate into a crisis. The blockade, part of President Donald Trump’s broader strategy to pressure Iran, has had a dual impact. While it aims to cripple Tehran’s economy by cutting off oil exports, it has also created ripple effects across Asia. China, which relies heavily on Iranian oil, has faced criticism for its stance, while India, a major importer of Middle Eastern energy, has found itself caught between U.S. policy and its own economic interests. China’s exposure to the crisis remains more manageable than that of other major economies. With roughly 98% of Iranian oil exports bound for Beijing, the nation’s vast oil reserves and diversified energy mix have provided a buffer. Maritime intelligence firm Windward estimates that over 157.7 million barrels of Iranian crude were en route to China as of Tuesday, underscoring the scale of the disruption. Analysts note that China’s strategic stockpiles, combined with barrels in transit, cover more than 120 days of net imports. This allows the country to absorb the shock by shifting to alternative sources like coal, according to Dan Wang of Eurasia Group. However, the U.S. Treasury Secretary, Scott Bessent, accused China of being an “unreliable global partner,” criticizing Beijing for hoarding oil supplies instead of easing the global energy crunch.#donald_trump #china #strait_of_hormuz #scott_bessent #guo_jiakun
Treasury yields climbed on Friday as investors grew concerned that the Federal Reserve may not cut interest rates this year, amid fears that the escalating conflict in the Middle East could push inflation higher. The 10-year Treasury yield, a key indicator for U.S. government borrowing, rose nearly 10 basis points to 4.38%, while the 2-year note yield, more sensitive to short-term rate decisions, increased by almost 6 basis points to 3.89%. Even the 30-year bond yield, which typically reflects long-term expectations, surged nearly 10 basis points to 4.95%. A basis point equals 0.01%, and bond yields and prices move inversely to one another. The sell-off in Treasury bonds followed overnight strikes between Iran and Israel, with Iran launching new attacks on energy sites in Kuwait and the Persian Gulf. The lack of a resolution to the conflict has led investors to anticipate a more aggressive stance from the Fed, as rising global oil prices complicate the economic outlook. Ross Mayfield, an investment strategist at Baird, told CNBC that the domestic economic environment has become less favorable for rate cuts, with markets effectively removing all expectations of Fed easing this year. Instead, traders are now pricing in a 20% chance of a rate hike in June, according to the CME FedWatch tool, which calculates probabilities based on interest rate futures. European central banks also maintained steady rates this week as policymakers grappled with the war’s impact, with markets increasingly anticipating rate increases to curb inflation. Oil prices, however, dipped slightly on Friday, with U.S. West Texas Intermediate crude falling 1.2% to $94.99 per barrel and Brent crude, the global benchmark, declining 1.3% to $107.28. Prices had previously dropped to around $72.50 per barrel before the conflict escalated.#iran #israel #scott_bessent #federal_reserve #baird
US Temporarily Allows Sale Of Russian Oil At Sea Amid Middle East Conflict The United States has temporarily permitted the sale of Russian crude oil and petroleum products already at sea, according to a statement from the Treasury Department. The authorization, issued on Thursday, allows the delivery and sale of oil loaded on vessels on or before 12:01 am Eastern Time on March 12, through 12:01 am on April 11. This decision follows a similar temporary permit granted to India for stranded Russian oil sales earlier this month. The move comes amid escalating tensions in the Middle East, where a war between Iran and Israel has disrupted global energy markets. The conflict has severely impacted the Strait of Hormuz, a critical shipping route through which approximately a fifth of the world’s oil transits. Energy prices have surged as a result of the instability, prompting the U.S. to take steps to stabilize global supply. Treasury Secretary Scott Bessent stated that the authorization aims to "increase the global reach of existing supply" and "promote stability in global energy markets." However, he emphasized that the measure is a "narrowly tailored, short-term" action designed to avoid providing "significant financial benefit" to the Russian government. Bessent noted that Russia’s primary revenue source remains taxes assessed at the point of extraction, not the sale of oil at sea. The decision reflects broader U.S. efforts to balance economic pressures with sanctions against Russia over its invasion of Ukraine. While the Treasury’s license eases restrictions on specific oil shipments, it does not signal a broader relaxation of sanctions. Bessent’s remarks also highlighted the administration’s focus on maintaining low energy prices amid the conflict, though the effectiveness of such measures remains uncertain.#iran #israel #strait_of_hormuz #scott_bessent #treasury_department
US President Donald Trump suggested the United States could take steps to ease pressure on global oil markets amid escalating tensions in the Gulf, including temporarily allowing India to continue purchasing Russian crude. Speaking to reporters aboard Air Force One, Trump responded to questions about Washington’s decision to permit certain Russian oil sales to India following the announcement by US Treasury Secretary Scott Bessent. “If there were some, I would do it just to take a little of the pressure off,” Trump said, referencing potential measures such as using the US Strategic Petroleum Reserve (SPR). He emphasized that global oil supply remained strong despite the crisis, stating, “I think that the oil pressure—there’s a lot of oil. We’ve got a lot of oil. Our country has a tremendous amount and there’s a lot of oil out there. That’ll get healed very quickly.” The US granted a temporary waiver allowing India to purchase Russian oil after shipping routes through the Strait of Hormuz were disrupted due to the ongoing conflict in the Gulf. Bessent explained that the waiver was intended to stabilize global supply during the crisis, noting, “We had asked them to stop buying sanctioned Russian oil this fall. They did. They were going to substitute it with US oil,” but added that the waiver was a short-term measure to prevent sharp rises in global oil prices. The waiver, which permits India to accept Russian oil for 30 days, reflects Washington’s effort to balance geopolitical tensions with economic stability. India’s energy situation remains stable, with government sources stating the country is reviewing its energy situation twice daily and remains in a “very comfortable position” regarding energy security.#iran #strait_of_hormuz #scott_bessent #us_president_donald_trump
Kamal Haasan Slams Trump Over US 'Permission' to Buy Russian Oil Actor-politician Kamal Haasan has criticized US President Donald Trump on social media, accusing Washington of overstepping by granting India "permission" to purchase Russian oil amid global supply chain disruptions. Haasan, a member of India’s Rajya Sabha and leader of the Makkal Needhi Maiam party, posted a message on X addressing Trump, emphasizing India’s sovereignty and rejecting foreign interference. "Dear Mr. President, We, the people of India, belong to a free and sovereign nation. We no longer take orders from distant foreign shores. Please mind your own business to the best of your abilities," he wrote. Haasan also called for mutual respect between nations, stating, "Mutual respect between sovereign nations is the only foundation of lasting global peace. We wish your country and its people peace and prosperity." The controversy stems from remarks by Scott Bessent, US Treasury Secretary and a close aide to Trump. Bessent told Fox Business that the US had allowed India to buy Russian oil to address temporary supply gaps caused by the Middle East conflict. "The Indians have been very good actors. We had asked them to stop buying sanctioned Russian oil this fall. They did. They were going to substitute it with US oil. But to ease the temporary gap of oil around the world, we have given them permission to accept Russian oil. We may un-sanction other Russian oil," Bessent said. Trump later echoed this sentiment, suggesting the US might take steps to alleviate global oil pressure. "If there were some, I would do it just to take a little of the pressure off," he said, adding that "the oil pressure—there's a lot of oil. We've got a lot of oil. Our country has a tremendous amount and we have, there's a lot of oil out there. That'll get healed very quickly.#india #donald_trump #scott_bessent #kamal_haasan #us_treasury
Explosions rock Tehran as US official warns 'biggest bombing' of war is coming Explosions sent up dark plumes of smoke over Tehran on Saturday as the conflict escalated, with the United States warning of an impending "biggest bombing campaign" of the war. Iranian retaliatory missile strikes targeted Israel, while sirens blared across Bahrain and Saudi Arabia as the fighting expanded beyond regional borders. The violence, which has already claimed lives and caused widespread destruction, shows no signs of abating, with the Trump administration approving a new $151 million arms sale to Israel amid calls for Iran's "unconditional surrender." The attacks on Tehran, which included strikes on military infrastructure and leadership targets, were met with Iranian missile fire directed at Israeli cities. In Jerusalem, loud booms echoed as incoming Iranian missiles prompted residents to seek shelter. The conflict has also drawn in Gulf allies, with Saudi Arabia reporting the destruction of drones aimed at its Shaybah oil field and the interception of a ballistic missile near a US military base. US Treasury Secretary Scott Bessent warned in a televised interview that the "biggest bombing campaign" of the war was yet to come, reflecting the administration's escalating stance. Israel confirmed it had bombed an underground bunker believed to be a key Iranian leadership facility, though details of the operation remain scarce. Meanwhile, US President Donald Trump reiterated his refusal to negotiate with Iran without its "unconditional surrender," vowing to support the selection of a "great and acceptable leader" to replace the late Supreme Leader Ayatollah Ali Khamenei. Iranian President Masoud Pezeshkian addressed the crisis on social media, acknowledging ongoing mediation efforts but offering no specifics.#iran #israel #bahrain #saudi_arabia #scott_bessent
