Tag: Scott Bessent
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US to unsanction Iranian oil: Iran downs F-35
UPDATED: The F-35 was struck by Iranian air-defence but made an emergency-landing in a nearby base in the Gulf. The pilot remained unharmed. In a surprise announcement made on Fox News, Us Secretary Treasury Secretary Scott Bessent announced that the US will unsaction Iranian oil so as to alleviate price pressures on the oil price.…
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Russia gets a reprieve as oil prices spike at the end of the week
Russia is getting a reprieve despite its allies falling down and Ukraine recapturing territory as oil prices spiked at the end of the week. West Texas Intermediate closed at $91.27 per barrel, up +$10.26 (+12.67%) on the day. Brent crude closed at $92.87 per barrel. Oil prices are increasing as Iran’s missile and drone strikes…
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US Treasury Department says it won’t accept Gunvor’s purchase of Lukoil’s assets
US Department of the Treasury has announced that it won’t be accepting Gunvor purchase of Lukoil’s foreign assets. Gunvor is owned by the Swedish billionaire Torbjörn Törnqvist, who is a friend and close associate of Vladimir Putin. He purchased Guvnor from its co-founder, Gennady Timchenko, another close Putin associate before he was sanctioned by the…
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Treasury Secretary calls for de-risking from China: no comment by President Trump over defending Taiwan
Following President Donald Trump’s successful meeting with China’s President Xi Jinping in which China suspended its trading restrictions against the US, Treasury Secretary Scott Bessent highlighted the importance of de-risking from China. Secretary Bessent said that he is not proposing to de-couple from China, but to de-risk, and also said that the US and its…
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Futures up on anticipation of trade deal between the US and China: US helicopter and fighter jet crash in the South China Sea
Futures are up today across most major market indices as traders expect a positive outcome for the meeting between President Donald Trump and China’s President Xi Jinping which will be held in South Korea later this week. President Trump was in Malaysia for the ASEAN Summit where he signed a peace agreement between Thailand and…
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Kirill Dmitriev goes to the US to brag about Russian missiles: Treasury Secretary calls him a “Russian propagandist”
Following the US Department of the Treasury sanctioning of Russia’s oil giants, Lukoil and Rosneft, the Kremlin sent its own representative to the US to try and convince the US to change course. Kirill Dmitriev, CEO of the Russian Direct Investment Fund, travelled to Miami, Florida, to meet US Middle East envoy Steve Witkoff in…
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US Department of the Treasury sanctions Lukoil and Rosneft
The US Treasury Department has sanctioned Russia’s largest state-owned oil company, Rosneft, along with Russia’s largest privately-owned oil-company, Lukoil, including a number of their subsidiaries. All of their majority-owned subsidiaries have been blocked. The Treasury Department announced that the decision was part of the US government’s actions to put pressure on Russia to end the…
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Breaking: Malta seeks cheap gas from the US (among other items)
Earlier this year, Foreign Minister Ian Borg met with US Treasury Secretary Scott Bessent and Energy Secretary Chris Wright. Early reports from our diplomatic sources confirmed that discussions included energy and Russian sanctions but no details were provided. We have confirmed from another source that Malta proposed the purchase of cheap gas from the US…
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Foreign Affairs Minister meets US Government cabinet officials: discussions revolve around energy and sanctions against Russia
Malta’s Foreign Affairs Minister and Deputy Prime-Minister Ian Borg held meetings with US government and cabinet officials earlier this week in Washington. The Ministry of Foreign Affairs is yet to release a press release on the meetings. The Minister said that discussions revolved around energy but did not give any details. Deputy Prime Minister Ian…
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The US government plans to acquire further stakes in large companies following its Intel purchase
US Commerce Secretary Howard Lutnick has stated that the US government may effectively start purchasing more stakes in large companies, especially defence contractors that depend on government contracts in order to increase government expenditure efficiency. Secretary Lutnick mentioned Lockheed-Martin as a next potential purchase following the US government’s purchase of 10% of Intel. Intel is…
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Treasury Secretary says 10% tariff will still apply to 100 countries
Interviewed by CNN, US Treasury Secretary Scott Bessent said that bilateral trade negotiations with various countries are still ongoing while many other countries haven’t yet contacted the US on the matter. He said that a 10% tariff will still apply to around 100 smaller countries who haven’t struck a trade deal with the US yet.…
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Scott Bessent announces 90-day suspension of US-China tariffs
Flanked by US Trade Representative Jamieson Greer in Geneva. Switzerland, US Treasury Secretary Scott Bessent announced earlier today that the US and China have agreed on a 90-day suspension of their mutual tariffs. The US will be cutting tariffs on Chinese goods from 145% to 30% while China will decrease its levies on US products…
