$1.6 billion battery plant in South Carolina hits pause
A major Japanese battery maker has stopped construction on a $1.6 billion plant in South Carolina, citing “policy and market uncertainty” tied to electric vehicles and global trade.
In a significant escalation of its "maximum pressure" campaign against Iran, the Trump administration is reportedly mulling a plan to stop and inspect Iranian oil tankers at sea.
Sources familiar with the matter told Reuters that the initiative would use an international accord aimed at preventing the spread of weapons of mass destruction to justify the inspections.
According to the report, the proposed measure would have allied countries intercept ships at key chokepoints—such as the Malacca Strait and other strategic sea lanes—to delay deliveries of Iranian crude. Officials expect that such delays would create a chilling effect on the illicit trade networks that Iran relies on for revenue, without the need to resort to more drastic measures like sinking vessels or arresting crews.
The plan comes as President Donald Trump has vowed to drive Iran's oil exports to zero in a bid to prevent Tehran from obtaining nuclear weapons. Trump’s administration had already imposed two waves of fresh sanctions during the early weeks of his second term, targeting companies and the so-called shadow fleet of aging oil tankers that transport crude from sanctioned countries without Western insurance.
Officials are now exploring whether these at-sea inspections can be conducted under the auspices of the Proliferation Security Initiative (PSI), a mechanism launched in 2003 to disrupt the trafficking of weapons of mass destruction. “It would be fully justified to use the PSI to slow down Iran’s oil exports,” said John Bolton, the former U.S. lead negotiator for the initiative. Bolton added that cutting off Iran’s oil revenue is critical to limiting its ability to finance both proliferation activities and support for terrorism.
The proposed move could potentially reduce Iranian oil exports by roughly 750,000 barrels per day in the short term, according to energy analysts. However, some experts caution that prolonged sanctions may eventually lose their effectiveness as Tehran and its trading partners adapt to new methods of circumventing restrictions. Moreover, a resumption of oil exports from Iraq's semi-autonomous Kurdistan region could help offset any reductions in Iranian supply.
Previous U.S. efforts under the Biden administration to interdict Iranian oil shipments met with mixed results. Earlier attempts led to retaliatory actions by Iran, including the seizure of foreign ships, one of which was chartered by Chevron Corp. These incidents have underscored the delicate balance in enforcing sanctions without provoking further escalation.
The National Security Council is reportedly reviewing the possibility of coordinated inspections at sea, but it remains unclear whether Washington has reached out to any of the over 100 PSI signatories to gauge their willingness to cooperate.
As the Trump administration intensifies its campaign to isolate Iran from the global economy, the proposed plan to disrupt Iranian oil shipments at sea represents its latest effort to leverage international security mechanisms in pursuit of its strategic goals.
As peace talks progress, voices from Yerevan, Tbilisi, and Baku reveal hopes, concerns, and expectations for a future shaped by trade, trust, and generational change in the South Caucasus.
A bridge collapse in the Vygonichsky district of Russia’s Bryansk region, near the Ukrainian border, caused a train derailment and a traffic accident early Sunday, killing at least seven people and leaving 30 injured, according to emergency services.
Ukraine’s Security Service (SBU) has confirmed it carried out a third targeted attack against the Crimean Bridge, also known as the Kerch Bridge, early Tuesday morning, marking a new escalation in the ongoing conflict with Russia.
A strong 6.3 magnitude earthquake shook Japan’s Hokkaido prefecture early Monday, causing no reported injuries or damage, and no tsunami warning was issued, officials confirmed.
Peace talks between Russia and Ukraine ended abruptly in Istanbul on Monday, lasting just over an hour amid mounting tensions following a major Ukrainian drone strike on Russian strategic bombers and renewed pressure from the U.S. for a breakthrough.
Germany’s new government has launched a major program aimed at boosting investment and helping Europe’s largest economy recover after two years of decline.
The European Central Bank has reduced its three key interest rates by 25 basis points, aligning with expectations and reflecting progress toward its inflation target.
Centrica, owner of British Gas, has agreed to a £20 billion deal with Norway’s Equinor to supply nearly 10% of the UK’s gas needs annually for the next decade, supporting energy security while paving the way for future hydrogen integration.
Tesla’s shares declined by about 14.2% on Thursday, reducing the company’s market value by roughly $152 billion, as Elon Musk and Donald Trump publicly exchanged criticisms on social media.
A U.S. appeals panel has rejected Apple’s request to pause a ruling that restricts the tech giant from charging commissions on in-app purchases made outside its payment system—delivering a major blow to the company in its long-running legal fight with Epic Games.
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