US Treasury Secretary Scott Bessent says Iran is in an economic “death spiral” as sanctions and military pressure intensify. He claims Washington controls the Strait of Hormuz and predicts mounting financial strain will eventually push Tehran back towards negotiations with Washington.
Finance Minister Nirmala Sitharaman met US Treasury Secretary Scott Bessent on the sidelines of the G20 meeting in North Carolina and invited him to Delhi for the Economic and Financial Partnership later this year, with both sides discussing stronger India-US cooperation
US Treasury Secretary Scott Bessent said Washington will impose fresh sanctions on banks and entities aiding Iran, including those linked to the IRGC. He warned of financial-system restrictions, asset freezes and intensified enforcement, while citing cooperation with European and regional partners
G20 finance ministers and central bank governors are meeting in Asheville to address global growth, trade disputes, debt vulnerabilities and supply-chain resilience. The talks are complicated by the Iran conflict, Strait of Hormuz disruptions, US sanctions proposals, tariffs and concerns over China
Iran’s rial hit a record low against the US dollar ahead of new US sanctions targeting digital assets, technology, gold, aviation and shipping. Tehran rejected Washington’s demands, defended its sovereignty and dismissed claims that the Strait of Hormuz remained fully open
Iranian Foreign Minister Abbas Araghchi rejected US economic threats, warning that sanctions and isolation would increase hostility among Iranians and fail to achieve their goals. His remarks followed President Donald Trump’s threat of unprecedented economic measures and Treasury Secretary Scott Bessent’s warning of secondary sanctions
Gold and silver prices fell sharply on MCX Friday amid heightened geopolitical uncertainty following US warnings of economic measures against Iran. Gold futures declined 0.8 per cent, while silver dropped 1.27 per cent, with technical indicators pointing to continued near-term pressure
US Treasury Secretary Scott Bessent defended President Donald Trump’s economic agenda before Congress, highlighting tax cuts, wage growth and job creation. Democrats challenged the administration over inflation, tariffs and rising household costs, exposing deep partisan divisions over the US economy
Global oil prices eased slightly after the US allowed a 30-day waiver for countries to buy Russian oil already in transit. Brent and WTI declined marginally, while India assured adequate crude supplies through diversified sourcing and reduced dependence on the Strait of Hormuz route
“We've had many countries come forward and present some very good proposals, and we're evaluating those.” “I would guess that India would be one of the first trade deals we would sign. So watch this space,” Bessent said
