IRANIAN CENTRAL BANK
Oil tanker held by Iran for over a year heads toward international waters, tracking data shows
The Advantage Sweet, an oil tanker seized by Iran in April 2023 amid tensions with the U.S., is now heading toward international waters, according to tracking data. The vessel, carrying $50 million worth of oil for Chevron, was held by Iran without acknowledgment of its release. This move coincides with an Iranian court ordering the U.S. to pay $6.7 billion over sanctions-related medical supply issues. The tanker's seizure was linked to ongoing legal and geopolitical conflicts between Iran and the U.S., involving economic sanctions and military tensions.
Iran's hard-line former President Mahmoud Ahmadinejad registers for June 28 presidential election
Iran's hard-line former President Mahmoud Ahmadinejad has registered as a possible candidate for the presidential election, aiming to regain the country's top political position after a helicopter crash killed the nation's president. Ahmadinejad's return comes amid heightened tensions between Iran and the West over Tehran's nuclear program, arming of Russia in its war on Ukraine, and crackdowns on dissent. The election is planned for June 28 to replace Khamenei's protege President Ebrahim Raisi, who died in a helicopter crash in May.
Oil falls more than $1 as Fed rate outlook stokes demand fears
Oil prices dropped by more than $1 on Tuesday, extending losses on the potential for lingering U.S. inflation to keep interest rates higher for longer, depressing consumer and industrial demand.
View: Iran’s President Raisi, who died in chopper crash, was a failure
Iran president Helicopter Crash: Since the early 1980s, Iranian presidents have reflected the supreme leader's needs. Ebrahim Raisi, close to Ayatollah Khamenei, aimed to restore faith in the Islamic Revolution but failed. His crackdown on female dress codes sparked protests, revealing his lack of popularity. Raisi's death has now opened up new possibilities for succession.
Oil prices fall on fear of high US interest rates depressing demand
Both benchmarks fell less than 1% on Monday as U.S. Federal Reserve officials said they were awaiting more signs of slowing inflation before considering interest rate cuts.
Reach Europe 20 days earlier and for 30% cheaper: How Chabahar port helps India expand its trade footprints globally
India’s pact with Iran to develop the Chabahar port will give a boost to the multimodal transportation network called the International North-South Transport Corridor, enabling exports from South Asia to reach Europe and Russia.
Street smart bulls refuse to be cowed down amid turmoil in Middle East
India's stock indices rose post volatile trading due to traders covering bearish bets on Israel-Iran conflict hopes. Rupee strengthened on likely RBI dollar sales, while gold surged. NSE's Nifty closed higher.
Oil tests central banker nerves with Iran-Israel hostilities on ‘knife edge’
The strikes reported around targets in Isfahan prompted a jump of more than 4% in crude to above $90 a barrel, before erasing that gain to trade lower on the day as Iranian media seemed to downplay the incident. While central bankers won’t have lost sleep at the level it reached, the backdrop isn’t comforting.
West Asia tensions give Dalal Street a headache
The Nifty fell 246.9 points, or 1.1%, to 22,272.50. The Sensex declined 845.12 points, or 1.14%, to 73,399.78 in a volatile trading session that saw mixed responses across the Asia-Pacific to this weekend's Iranian drone attacks on Israel. China advanced 1.26%, Hong Kong fell 0.73%, South Korea declined 0.42%, and Taiwan dropped 1.38%.
Gold prices hit record highs on safe-haven demand
Spot gold was up 0.6% at $2,386.38 per ounce, as of 0111 GMT. Bullion hit a record high of 2,389.29 earlier in the session.
Oil prices head back up on Middle East jitters
Brent crude futures climbed 34 cents, or 0.38%, to $90.08 a barrel, while U.S. West Texas Intermediate crude futures rose 44 cents, or 0.51%, to $85.45, at 0033 GMT.
Explainer: What does Red Sea disruption mean for Europe's economy?
Weeks of attacks by Iranian-backed Houthi militants in the Red Sea have disrupted shipping in the Suez Canal, which carries 12% of global container traffic. Prolonged disruption poses a new risk to the European economy, potentially derailing plans by central banks to cut interest rates.
US sanctions money network tied to the Yemen Houthi rebels blamed for shipping vessel attacks
Included in the sanctions are the head of a financial intermediary in Sana'a, Yemen, along with three exchange houses in Yemen and Turkey. U.S. Treasury alleges that the people and firms helped transfer millions of dollars to the Houthis at the direction of sanctioned Iranian financial facilitator Sa'id al-Jamal. The sanctions block access to U.S. property and bank accounts and prevent the targeted people and companies from doing business with Americans.
Israeli forces bombard central Gaza in apparent move toward expanding ground offensive
Israeli forces launched attacks on Palestinian refugee camps in central Gaza, indicating a potential expansion of the ground offensive. Evacuation orders were issued. The conflict has caused substantial destruction, with over 20,900 Palestinians, mostly civilians, killed.
Asian stocks mull over Middle East, central bank meetings
The earnings season also continues with Apple, Airbnb, McDonald's, Moderna and Eli Lilly & Co among the many reporting this week. Results so far have been underwhelming, contributing to the S&P 500's retreat into correction territory at 4,117.
Timeline: US-Iran relations from 1953 coup to 2023 detainee swap deal
The United States and Iran have reached an agreement to release five detainees each and transfer $6 billion of unfrozen Iranian assets from South Korea to accounts in Qatar. This deal marks a significant step in improving the strained relations between the two countries, which have a long history of animosity.
Ajit Doval meets Iranian President ahead of July SCO Summit
Raisi told Doval that regional and international organisations such as the SCO and BRICS have remarkable power and resources, said people with knowledge of the matter. Iran is also keen to enter BRICS.
In Tehran, NSA Doval meets Iranian President Raisi, Foreign Minister Amirabdollahian
In their meeting, Doval and Amirabdollahian exchanged views on development of the Chabahar port, ways to deal with terrorism, issues relating to bilateral banking and the situation in Afghanistan, the Iranian foreign ministry said.
Iranian NSA pitch for trade in national currencies in his meeting with Doval
Stating that improved Iran-India ties are not against any other country, the Iranian NSA underlined that global and regional developments had created very good conditions to strengthen interactions between the two countries in the field of energy, transportation and transit, technology, and banking. India in the past used national currencies for oil trade with Iran and over the last year has introduced trade with number of countries in national currencies.
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