live Oil prices fall as Iran vows retaliation over U.S. sanctions
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concer...
U.S. President Donald Trump warned Iran to strike a deal within 10-15 days or face "really bad things," after Geneva talks this week ended without a breakthrough despite claims of progress. The comment comes amid a buildup of military from both sides in the region.
He made the comment at the first Board of Peace gathering in Washington on Thursday (19 February).
Trump said Iran’s nuclear potential had been "decimated" referring to last June's attacks, and added, "We may have to take it a step further or we may not. You’ll be finding out over the next probably 10 days."
Later, aboard Air Force One, he said: "I would think that would be enough time, 10, 15 days, pretty much maximum."
In a letter to United Nations Secretary-General Antonio Guterres on Thursday, Iran said it would not initiate hostilities but warned that "in the event that it is subjected to military aggression, Iran will respond decisively and proportionately."
The correspondence said "all bases, facilities, and assets of the hostile force in the region would constitute legitimate targets."
Iranian and U.S. negotiators met in Geneva on Tuesday where Iranian Foreign Minister Abbas Araghchi said both sides agreed on "guiding principles," while White House press secretary Karoline Leavitt said key differences remained.
Trump said "good talks are being had," and a senior U.S. official said Iran would submit a written proposal addressing American concerns.
"They can't have a nuclear weapon, it's very simple," Trump said. "You can't have peace in the Middle East if they have a nuclear weapon."
Iran maintains its programme is for peaceful purposes. The U.S. and Israel have previously accused Tehran of seeking a weapons capability.
Russia on Thursday urged restraint, warning of an "unprecedented escalation of tension" as the U.S. deployment of additional forces continued.
Iran’s joint naval exercise with Russia followed extended Iranian drills in the Gulf of Oman, with state television showing special forces operating from helicopters and ships.
A senior American official said the buildup of U.S. military should be completed by mid-March.
U.S. Secretary of State Marco Rubio will meet Israeli Prime Minister Benjamin Netanyahu on 28 February to discuss the nuclear file.
Washington wants Iran to halt uranium enrichment, give up long-range missiles, stop supporting armed groups in the region and end the use of force against internal unrest. Iran refuses to negotiate beyond the atomic issue and describes its missile programme as non-negotiable.
It's after the United States and Israel struck Iranian nuclear and military facilities last June in a 12-day war.
Meanwhile Poland has advised its citizens on Thursday to leave Iran, with Prime Minister Donald Tusk saying they "may only have hours" to depart due to rising tension, according to local media reports.
Trump renewed his warnings in January as Iranian authorities suppressed widespread protests, drawing fresh criticism from Western governments.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parliamentary election, according to exit polls, strengthening President Kassym-Jomart Tokayev's influence at a pivotal moment in the country's political transition.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Canada has announced nearly $20 billion in retaliatory tariffs on U.S. goods and billions in support for workers and businesses, escalating its trade dispute with Washington after President Donald Trump's latest duties took effect.
Pakistani exporters are facing soaring shipping costs to the U.S., with freight rates more than tripling on some routes as the Iran-U.S. conflict drives up war-risk insurance and fuel costs.
The trial of a Libyan man accused of building the bomb that destroyed Pan Am Flight 103 over the Scottish town of Lockerbie in 1988, killing 270 people, has been postponed by a U.S. federal judge.
France and Saudi Arabia have agreed on plans for a $7 billion manga-themed amusement complex near Paris, inspired by the hugely popular Japanese franchise Dragon Ball Z.
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