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India, Seven Others to Get US Waivers on Iran Oil Import

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PM Modi and Donald Trump

In fast moving developments before US imposes tougher sanctions against Iran on November 5, India has become one of the eight countries to get a waiver by the Donald Trump administration. Secretary of state Michael Pompeo has announced on Friday that eight governments that have taken “important moves” towards reducing Iranian oil imports to zero are going to receive temporary waivers.

According to Financial Times, India has agreed to cut imports and escrow payments from Iran. India told the US that it was willing to restrict monthly oil purchase from Iran from 22.6 million tonnes (452,000 barrels per day) to 1.25 million tonnes or 15 million tonnes in a year.

India, which imports crude oil to meet 80% of its energy demand, is heavily dependent on Iran. In FY18, Iran was the third largest supplier of crude oil to India, followed by Saudi Arabi and Iraq. While the country is getting a waiver, the government was also mulling trading in rupee with Iran had the sanctions continued.

Read More: US Agrees For Waiver to India Continue Importing Iran Oil

Meanwhile, Indian oil companies have placed additional crude oil order of four million barrels from Saudi Arabia to reduce impact of fall in Iranian oil supplies. Before the US sanctions come into force, Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL), placed order to purchase 1.25 million tonnes of oil from Iran in November.

The United States has said that it will temporarily allow eight importers to keep buying Iranian oil  beyond November 5.

On Twitter, in a message designed to emphasize his “maximum pressure” policy toward Iran, Trump included a photograph of himself modeled on a entertainment industry poster with the headline: “Sanctions are coming November 5.”

China, India, South Korea, Turkey, Italy, the United Arab Emirates and Japan have been top importers of Iran’s oil, while Taiwan occasionally buys cargoes of Iranian crude but is not a major buyer.

Read More: India Increases Iranian Oil Imports In June By 48 Percent

Mike Pompeo did not name the eight countries, which he referred to as “jurisdictions,” a term that might include importers such as Taiwan which the US does not regard as a country.

After withdrawing from multilateral Iran-Nuclear deal, also known as JCPOA, in May this year, US President Donald Trump is trying to cripple Iran’s oil-dependent economy and force Tehran to quash not only its nuclear ambitions and its ballistic missile program but its support for militant proxies in Syria, Yemen, Lebanon and other parts of the Middle East.

Reacting to US announcement, Iran’s Foreign Ministry spokesman Bahram Qassemi said that the US is seeking to wage an extensive “psychological war” by imposing a fresh round of sanctions. However, he stressed that the Iranhas no concerns over such US bids.

While talking to official broadcaster IRIB on Friday, Qassemi said,”There is no room for any concern. We should wait and see that the US will not be able to carry out any measure against the great and brave Iranian nation.”

The US will impose a second round of sanctions against Iran on Sunday after withdrawing from 2015 multilateral deal. The first round of the bans was re-imposed in August.

Qassemi said that earlier US carried out numerous measures and spent huge sums to exert pressure on international banks, companies, commercial enterprises and institutions dissuading from working with Iran. However, all such efforts failed to bear fruit, he added.

Meanwhile foreign and finance ministers of France, Germany, the United Kingdom, and European Union, in a joint statement, have condemned US fresh sanctions on against Iran, vowing to protect European firms  engaged in business with Tehran.

Their statement described the 2015 agreement as “crucial for the security of Europe, the region and the entire world”, adding that it is Europe’s “aim to protect European economic operators engaged in legitimate business with Iran.”India, Seven Others to Get US Waivers on Iran Oil Import

The statement also vowed to preserve and maintain “effective financial channels with Iran, and the continuation of Iran’s export of oil and gas.”

In a major boost to Iran’s position, Russian Energy Minister Alexander Novak has reportedly said that his country will help Iran counter fresh US sanctions, saying Moscow will continue trading Tehran’s crude in defiance of US diktats.

While talking to London based financial Times, he said, “We believe we should look for mechanisms that would allow us to continue developing cooperation with our partners, with Iran.”

The US has decided to impose a second round of sanctions against Iran on Sunday, months after it scrapped the 2015 multilateral deal, officially known as the Joint Comprehensive Plan of Action (JCPOA), signed between Iran and the P5+1 group of countries. The first round of the US sanctions, which had been lifted after the deal came into effect on January 2016, was re-imposed in August this year.

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Suicide bombing at Islamabad imambargah kills 69, over 160 injured

At least 69 people were killed after a suicide bomber detonated explosives at a Shia shrine in Islamabad’s Shehzad Town area, triggering a city-wide emergency.

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Suicide bombing at Islamabad Shrine

A suicide bombing at a Shia place of worship in Pakistan’s capital Islamabad left at least 69 people dead and more than 160 injured on Friday, according to media reports.

The explosion took place at Tarlai Imambargah, located in the Shehzad Town area, when a suicide bomber detonated explosives near the main gate of the shrine during afternoon hours.

Attacker stopped at entrance, officials say

Security officials were quoted as saying that the attacker was intercepted by guards at the entrance, preventing him from entering the main hall where worshippers had gathered. Despite this, the blast caused extensive damage to the gate and nearby structures.

Visuals from the scene showed shattered windows of surrounding buildings and debris scattered across the road following the explosion.

Emergency declared, injured shifted to hospitals

Following the blast, the Islamabad Inspector General of Police declared a city-wide emergency, as rescue and law enforcement teams rushed to the site amid fears of high casualties.

The injured were shifted to Pakistan Institute of Medical Sciences (PIMS) and Polyclinic Hospital for treatment.

Prime minister condemns attack

Pakistan Prime Minister Shehbaz Sharif expressed deep grief over the attack and strongly condemned the bombing at the Shiite mosque in Islamabad.

In a statement, he said the incident was a tragic act of violence and offered condolences to the families of those killed. Official statements noted that dozens were injured in the attack, with treatment ongoing at city hospitals.

Previous attack referenced

The incident comes less than three months after a suicide blast outside a district and sessions court building in Islamabad on November 11, 2025, in which 12 people were killed and over 30 injured.

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Suicide bombing at Islamabad shrine kills 10, over 20 injured

A suicide bombing at a Shia shrine in Islamabad’s Shehzad Town area killed at least 10 people and injured over 20, prompting a city-wide emergency.

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Suicide bombing at Islamabad Shrine

At least 10 people were killed and around 20 others sustained injuries after a suicide bomber detonated explosives at a Shia shrine in Pakistan’s capital, Islamabad, on Friday afternoon.

The explosion took place at Tarlai Imambargah, located in the Shehzad Town area, when the attacker set off the device at the main entrance of the place of worship, where devotees had gathered.

Bomber stopped at entrance, say officials

Security officials said alert guards intercepted the attacker at the gate, preventing him from entering the main hall of the shrine. The timely action is believed to have reduced the scale of casualties inside the premises.

However, the blast caused significant damage to the gate structure. Visuals from the site showed shattered windows of nearby buildings and debris scattered across the road following the explosion.

Emergency declared across Islamabad

In the aftermath of the attack, the Islamabad Inspector General of Police declared a city-wide emergency. Rescue teams and law enforcement personnel rushed to the site amid concerns that the casualty count could rise.

The injured were shifted to Pakistan Institute of Medical Sciences (PIMS) and Polyclinic Hospital for treatment.

Recent history of suicide attacks in the capital

The incident comes less than three months after a suicide bombing outside a district and sessions court building in Islamabad on November 11, 2025, which killed 12 people and injured more than 30 others, raising renewed concerns over security in the capital.

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Bangladesh rushes to finalise US trade deal after India secures lower tariffs

Bangladesh is accelerating talks with the US to finalise a trade agreement after India secured lower tariffs, raising concerns over export competitiveness and transparency.

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Bangladesh is moving quickly to finalise a trade agreement with the United States after India concluded a deal with Washington that lowered tariffs on Indian goods to 18 per cent. The development has triggered concern in Dhaka that Bangladesh could lose market share in the US if it fails to secure comparable or better terms.

The US and Bangladesh are expected to sign the agreement on February 9, just three days before the country’s national election scheduled for February 12. The timing and lack of transparency surrounding the deal have drawn criticism from economists, business leaders and political observers.

Bangladesh’s economy is heavily dependent on ready-made garment exports, which account for nearly 90 per cent of its exports to the US. Any tariff disadvantage compared to India could significantly impact export orders and employment in the sector.

Tariff cuts under negotiation

The proposed agreement follows a series of tariff revisions imposed by Washington. In April 2025, the US imposed a steep 37 per cent tariff on Bangladeshi goods. This was reduced to 35 per cent in July and further lowered to 20 per cent in August.

According to reports, the upcoming deal is expected to bring tariffs down further to around 15 per cent. Officials see this as critical to keeping Bangladeshi exports competitive against Indian products in the US market.

Secrecy around negotiations raises concerns

Concerns have intensified due to the confidential nature of the negotiations. In mid-2025, the interim government led by Muhammad Yunus signed a formal non-disclosure agreement with the US, committing to keep tariff and trade discussions confidential.

No draft of the agreement has been shared with the public, parliament or industry stakeholders. A commerce adviser had earlier stated that the deal would not go against national interests and could be made public with US consent.

Policy experts, however, argue that the lack of disclosure prevents meaningful debate on the agreement’s long-term implications.

Conditions reportedly linked to the deal

Media reports suggest that the agreement may include several conditions. These include reducing imports from China, increasing military procurement from the US, and allowing American goods easier access to the Bangladeshi market.

It is also reported that Bangladesh may be required to accept US standards and certifications without additional scrutiny. Inspections on US vehicle imports and parts could reportedly be eased to facilitate smoother entry into the local market.

A senior policy analyst described the process as opaque, noting that signing the agreement just days before elections could bind the hands of the next elected government.

Garment industry left in the dark

Bangladesh exports garments and textiles worth between $7 billion and $8.4 billion annually to the US, accounting for nearly 96 per cent of its total exports to the American market. In comparison, Bangladesh imports around $2 billion worth of goods from the US.

With India and Bangladesh exporting similar apparel products, lower tariffs for India could shift US buyers towards Indian suppliers. Industry leaders warn that this could put millions of jobs at risk in Bangladesh’s garment sector, which employs 4 to 5 million workers, most of them women.

The sector contributes over 80 per cent of Bangladesh’s export earnings and nearly 20 per cent of its GDP.

A senior garment exporters’ association official said the agreement carries major implications and should ideally have been signed after the election to allow broader political and public discussion.

Political timing draws criticism

Economists and analysts have also questioned why an unelected interim administration is finalising a major trade agreement so close to national elections. They argue that responsibility for implementing the deal will fall on the incoming elected government.

A prominent economist criticised the process as lacking transparency and warned that the country could be pushed into long-term commitments without adequate scrutiny or public consent.

Meanwhile, US diplomats have indicated openness to engaging with various political forces in Bangladesh, including Jamaat-e-Islami, which has been banned multiple times in the country’s history.

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