DUBAI: An oil tanker long suspected of carrying sanctioned Iranian crude oil offloaded its cargo near Texas on Sunday, tracking data showed, even as Tehran has threatened to target shipping in the Persian Gulf over it.
The fate of the cargo aboard the Suez Rajan has become mired in the wider tensions between the US and the Islamic Republic, even as Tehran and Washington work toward a trade of billions of dollars in frozen Iranian assets in South Korea for the release of five Iranian-Americans held in Tehran.
Already, Iran’s paramilitary Revolutionary Guard has warned that those involved in offloading the cargo “should expect to be struck back.” The US Navy has increased its presence steadily in recent weeks in the Mideast, deploying the troop-and-aircraft-carrying USS Bataan and considering putting armed personnel on commercial ships traveling through the Strait of Hormuz to stop Iran from seizing additional ships.
Ship-tracking data showed the Marshall Islands-flagged Suez Rajan was undergoing a ship-to-ship transfer of its oil to another tanker, the Mr. Euphrates, near Galveston, Texas, some 70 kilometers (45 miles) southeast of Houston. That likely will allow the cargo to be offloaded.
The saga over the Suez Rajan began in February 2022, when the group United Against Nuclear Iran said it suspected the tanker carried oil from Iran’s Khargh Island, its main oil distribution terminal in the Arabian Gulf.
For months, it sat in the South China Sea off the northeast coast of Singapore before suddenly sailing for the Gulf of Mexico without explanation. Analysts believe the vessel’s cargo likely had been seized by American officials, though there still were no public court documents early Sunday involving the Suez Rajan.
In the meantime, Iran has seized two tankers near the Strait of Hormuz, including one with cargo for US oil major Chevron Corp. In July, the top commander of the Revolutionary Guard’s naval arm threatened further action against anyone offloading the Suez Rajan, with state media linking the recent seizures to the cargo’s fate.
“We hereby declare that we would hold any oil company that sought to unload our crude from the vessel responsible and we also hold America responsible,” Rear Adm. Alireza Tangsiri said at the time. “The era of hit and run is over, and if they hit, they should expect to be struck back.”
Iran’s mission to the United Nations did not immediately respond to a request for comment over the offloading of the Suez Rajan. Western-backed naval organizations in the Arabian Gulf in recent days also warned of an increased risk of ship seizures from Iran around the Strait of Hormuz.
Iran’s 2015 nuclear deal with world powers saw it regain the ability to sell oil openly on the international market. But in 2018, then-President Donald Trump unilaterally withdrew from the accord and re-imposed American sanctions. That slammed the door on much of Iran’s lucrative crude oil trade, a major engine for its economy and its government. It also began a cat-and-mouse hunt for Iranian oil cargo — as well as series of escalating attacks attributed to Iran since 2019.
The delay in offloading the Suez Rajan’s cargo had become a political issue as well for the Biden administration as the ship had sat for months in the Gulf of Mexico, possibly due to companies being worried about the threat from Iran.
In a letter dated Wednesday, a group of Democratic and Republican US senators asked the White House for an update on what was happening with the ship’s cargo, estimated to be worth some $56 million. They said the money could go toward the US Victims of State Sponsored Terrorism Fund, which compensates those affected by the Sept. 11 attacks, the 1979 Iran hostage crisis and other militant assaults.
“We owe it to these American families to enforce our sanctions,” the letter read.
The US Treasury has said Iran’s oil smuggling revenue supports the Quds Force, the expeditionary unit of the Revolutionary Guard that operates across the Mideast.
Claire Jungman, the chief of staff at United Against Nuclear Iran, praised the transfer finally happening.
“By depriving the (Guard) of crucial resources, we strike a blow against terrorism that targets not only American citizens but also our global allies and partners,” Jungman said.
Tanker believed to hold sanctioned Iran oil begins to be offloaded near Texas despite Tehran threats
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Tanker believed to hold sanctioned Iran oil begins to be offloaded near Texas despite Tehran threats
- Fate of the cargo aboard the Suez Rajan has been mired in the wider tensions between the US and Iran
- Ship-tracking data shows the Marshall Islands-flagged tanker is undergoing a ship-to-ship transfer of its oil
Pakistan PM unveils broader plan to sell most state-owned firms
- Announcement comes amid talks on new IMF loan
- There can’t be any strategic commercial SOEs, says ex-minister
ISLAMABAD: Pakistan will privatise all state-owned enterprises, with the exception of strategic entities, Prime Minister Shehbaz Sharif said on Tuesday, broadening its initial plans to sell only loss-making state firms to shore up its shaky finances.
The announcement came after Sharif headed a review meeting of the privatization process of loss-making state enterprises (SOEs), according to a statement from his office, which discussed a roadmap for privatization from 2024 to 2029.
“All of the state-owned enterprises will be privatised whether they are in profit or in losses,” Sharif said, adding that offloading the SOEs will save taxpayers’ money.
The statement didn’t clarify which sectors would be deemed strategic and non-strategic.
The announcement came a day after an International Monetary Fund (IMF) mission opened talks in Islamabad for a new long-term Extended Fund Facility (EFF), following Pakistan’s completion of a $3 billion standby arrangement last month, which had averted a sovereign debt default last summer.
Privatization of loss-making SOEs has long been on the IMF’s list of recommendations for Pakistan, which is struggling with a high fiscal shortfall and a huge external financing gap. Foreign exchange reserves are hardly enough to meet up to a couple of months of controlled imports.
The IMF says SOEs in Pakistan hold sizable assets inn comparison with most Middle East countries, at 44 percent of GDP in 2019, yet their share of employment in the economy is relatively low. The Fund estimates almost half of the SOEs operated at a loss in 2019.
Patchy success so far
Past privatization drives have been patchy, mainly due to a lack of political will, market watchers say.
Any organization that is involved in purely commercial work can’t be strategic by its very nature, which means there can’t be any strategic commercial SOEs, former Privatization Minister Fawad Hasan Fawad told Reuters on Tuesday.
“So to me there are really no strategic SOEs,” he said.
“The sooner we get rid of them the better. But this isn’t the first time we have heard a PM say this and this may not be the last till these words are translated into a strategic action plan and implemented.”
Islamabad has for years been pumping billions of dollars into cash-bleeding SOEs to keep them afloat, including one of the largest loss-making enterprises
Pakistan International Airline, which is in its final phase of being sold off, with a deadline
later this week to seek expressions of interest from potential buyers.
The pre-qualification process for PIA’s selloff will be completed by end-May, the privatization ministry told Tuesday’s meeting, adding discussions were underway to sell the airline-owned Roosevelt Hotel in New York.
It also said a government-to-government transaction on First Women Bank Ltd. was being discussed with the United Arab Emirates, and added that power distribution companies had also been included in the privatization plan for 2024-2029.
“The loss-making SOEs should be privatised on a priority basis,” Sharif said.
Russian president Putin to make a state visit to China this week
- The Kremlin in a statement confirmed the trip and said Putin was going on Xi’s invitation
BEIJING: Russian President Vladimir Putin will make a two-day state visit to China this week, the Chinese Foreign Ministry said Tuesday.
Putin will meet Chinese leader Xi Jinping during his visit starting on Thurday, it said.
The Kremlin in a statement confirmed the trip and said Putin was going on Xi’s invitation. It said that this will be Putin’s first foreign trip since he was sworn in as president and began his fifth term in office.
The two continent-sized authoritarian states, increasingly in dispute with democracies and NATO, seek to gain influence in Africa, the Middle East and South America. China has backed Russia’s claim that President Vladimir Putin launched his assault on Ukraine in 2022 because of Western provocations, without producing any solid evidence.
Pro-Palestinian protesters cleared from Geneva university
- Geneva university officials had asked the protesters on Monday to vacate the premises and protest in a different manner.
About 20 officers entered the UniMail building around 0300 GMT, a journalist from the Keystone-ATS news agency said.
“Most of the students were sleeping. After being gathered they were led to the underground parking garage,” Julie Zaugg, a journalist with LemanbleuTV channel, said on X.
She said they shouted pro-Palestinian slogans before being handcuffed and taken away in vans.
Geneva university officials had asked the protesters on Monday to vacate the premises and protest in a different manner.
Students demonstrations have gathered pace across Western Europe in recent weeks with protesters demanding an end to the Gaza bloodshed and to cut ties with Israel, taking their cue from demonstrations that have swept US campuses.
There have been similar protests in other Swiss universities and polytechnic schools including Lausanne, Berne, Basel and Zurich.
The bloodiest ever Gaza war began with Hamas’s October 7 attack on Israel, which resulted in the deaths of more than 1,170 people, mostly civilians, according to an AFP tally based on Israeli official figures.
Militants also seized hostages, of whom Israel estimates 128 remain in Gaza, including 36 the military says are dead.
Israel’s bombardment and offensive in Gaza have killed at least 35,091 people, mostly women and children, according to the health ministry in the Hamas-run territory.
Modi files candidacy for India election in Hindu holy city
- Varanasi is spiritual capital of Hinduism, where devotees come to cremate loved ones by Ganges river
- Modi has made acts of religious worship central fixture of his premiership since coming into power in 2014
Varanasi, India: India Prime Minister Narendra Modi on Tuesday formally submitted his candidacy to recontest the parliamentary seat for the Hindu holy city of Varanasi in a general election he is widely expected to win.
The marathon six-week poll concludes next month, and the 73-year-old premier used the election formality as a campaign event that paid deference to the country’s majority faith.
Varanasi is the spiritual capital of Hinduism, where devotees from around India come to cremate deceased loved ones by the Ganges river, and the premier has represented the city since sweeping to power a decade ago.
Hundreds of supporters had gathered outside a local government office to greet Modi when he arrived to lodge his nomination.
Footage showed the premier handing over his candidacy paperwork, flanked by a Hindu mystic.
“It’s our good fortune that Modi represents our constituency of Varanasi,” devout Hindu and farmer Jitendra Singh Kumar, 52, told AFP while waiting for the leader to emerge.
“He is like a God to people of Varanasi. He thinks about the country first, unlike other politicians.”
Modi, who has made acts of religious worship a central fixture of his premiership, had spent the morning visiting temples and offering prayers at the banks of the Ganges.
Tens of thousands of supporters had lined the streets of Varanasi to greet Modi as he arrived in the city on Monday, waving to the crowd from atop a flatbed truck as loudspeakers blared devotional songs.
Many along the roadside waved saffron-colored flags bearing the emblem of his ruling Bharatiya Janata Party (BJP), throwing marigold flowers at the procession as it passed by.
Modi and the BJP are widely expected to win this year’s election, which is conducted over six weeks to ease the immense logistical burden of staging the democratic exercise in the world’s most populous country.
Varanasi is one of the last constituencies to vote on June 1, with counting and results expected three days later.
Since the vote began last month, Modi has made a number of strident comments against India’s 200-million-plus Muslim minority in an apparent effort to galvanize support.
He has used public speeches to refer to Muslims as “infiltrators” and “those who have more children,” prompting condemnation from opposition politicians and complaints to India’s election commission.
The ascent of Modi’s Hindu-nationalist politics despite India’s officially secular constitution has made the Muslims in the country increasingly anxious.
“We are made to feel as if we are not wanted in this country,” Shauqat Mohamed, who runs a tea shop in the city, told AFP.
“If the country’s premier speaks of us in disparaging terms, what else can we expect?” the 41-year-old added.
“We have to accept our fate and move on.”
At least 14 killed after billboard collapses in Mumbai during thunderstorm
- Agency owning the billboard did not have a permit to put up the hoarding, which was bigger than an Olympic swimming pool
MUMBAI: At least 14 people died and 75 others were injured after a billboard bigger than an Olympic swimming pool fell on them during a thunderstorm in India’s financial capital Mumbai, authorities said on Tuesday, with dozens still feared trapped.
Videos showed the towering hoarding billowing in the wind before collapsing on houses and a fuel station next to a busy road in the eastern suburb of Ghatkopar on Monday as a dust storm and rain lashed the city in the evening, bringing traffic to a standstill and disrupting flights at Mumbai airport.
Mumbai’s municipal corporation (BMC) said at least 75 injured people were taken to hospitals following the accident and 31 have been discharged.
The agency owning the billboard did not have a permit from the BMC to put up the hoarding, the municipal body said in a statement. The hoarding measured about 1,338 square meters (14,400 square feet), it said, bigger than an Olympic pool’s 1,250 square meters and nine times more than the maximum permitted size for a hoarding.
The BMC said it has instructed the agency to remove all its hoardings immediately.
“To prevent such accidents from happening again, instructions have been given to conduct a structural audit of all hoardings in Mumbai and immediately take down dangerous ones,” Eknath Shinde, the chief minister of Maharashtra state of which Mumbai is the capital, said in a post on X.
About 25 people and some cars were still trapped under the crumpled hoarding, said a BMC official, who did not want to be named as he was not authorized to speak to the media.
Officials from fire services, police, disaster response and other authorities continued rescue operations that were taking longer because gas cutters could not be used at the site due to the presence of the fuel pump.
