Praise for PM Carney in Canada as Trump cancels 'Board of Peace' invitation
When the rules no longer protect you, you must protect yourself,” Canadian Prime Minister Mark Carney said in Davos on Tuesday (20 January), a speec...
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.
Qarabağ claimed a late 3–2 victory over Eintracht Frankfurt in the UEFA Champions League on Wednesday night, scoring deep into stoppage time to secure a dramatic home win in Baku.
Russian President Vladimir Putin said on Wednesday that Moscow could pay $1 billion from Russian assets frozen abroad to secure permanent membership in President Donald Trump’s proposed ‘Board of Peace’.
“I’m seeking immediate negotiations to once again discuss the acquisition of Greenland by the U.S.,” US President Donald Trump told the World Economic Forum. During his Wednesday (21 January) address, he once more cited national security concerns as the reason for wanting to own the Arctic island.
A commuter train collided with a construction crane in southeastern Spain on Thursday (22 January), injuring several passengers, days after a high-speed rail disaster in Andalusia killed at least 43 people.
President Donald Trump says he has agreed a "framework" for a Greenland deal with NATO.
Argentina's economic activity shrunk 0.3% in November compared with the same month last year, marking the first monthly contraction of 2025, data from Argentina's national statistics agency showed on Wednesday.
Wall Street closed sharply lower on Tuesday as global markets fell after U.S. President Donald Trump’s new tariff threats against Europe unsettled investors and revived fears of renewed volatility.
Global markets are rattled after U.S. President Donald Trump threatened new tariffs on eight European countries over Greenland, sending the euro to a seven-week low and raising concerns about renewed transatlantic trade tensions.
Hong Kong and Shanghai will sign a memorandum of understanding next week to establish a cross-border gold trade clearing system, a move aimed at boosting Hong Kong’s role as an international gold trading hub, Financial Secretary Paul Chan said.
Elon Musk is seeking up to $134 billion from OpenAI and Microsoft, arguing that the companies profited unfairly from his early support of the artificial intelligence firm, according to a court filing made public on Friday.
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