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Saudi Arabia Agrees To Pump More Oil to Maintain Balance

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Saudi Arabia Agrees To Pump More Oil to Maintain Balance

[vc_row][vc_column][vc_column_text]Following US suggestion to be ready to produce more oil for filling vacuum after closure of Iranian oil export, Saudi Arabia’s cabinet on Tuesday endorsed the kingdom’s readiness to pump more oil to maintain market balance and stability, the official Saudi Press Agency (SPA) said.

A statement issued after the cabinet meeting chaired by King Salman said, “The kingdom is prepared to utilise its spare production capacity when necessary to deal with any future changes in the levels of supply and demand.”

On Saturday, US President Donald Trump said Saudi Arabia’s King Salman has agreed to his request to increase oil output “maybe up to” two million barrels.[/vc_column_text][vc_raw_html]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[/vc_raw_html][vc_column_text]Saudi Press Agency reported that both leaders also discussed “efforts by the oil-producing countries to compensate for any potential shortage in supplies.”

Read More: US asks nations to stop Iranian oil import by Nov.4 or face sanctions

Trump’s claim comes after the Organization of the Petroleum Exporting Countries (OPEC), a grouping of oil-producing states that includes Saudi Arabia, already agreed to ramp up production by a million barrels a day at a meeting earlier this month.

According to Organisation of Petroleum Exporting Countries (OPEC), Saudi Arabia produces approximately 10 million barrels of crude per day. The US Energy Information Administration label Saudi Arabia as the world’s top oil exporter and has usually kept at least 1.5 million to two million barrels per day of spare capacity.

The Trump administration has on June 26 asked international community to cut all imports of Iranian oil before November 4, when the US re-imposes sanctions against that country. Trump has withdrew from a 2015 multilateral nuclear deal signed by Iran and P5+1, five permanent members of UNSC plus Germany.

Read More: India under US pressure to cut oil imports from Iran, Govt says exploring all options

Washington has been pressing allies in Europe, Asia and the Middle East, including Saudi Arabia, to adhere to the sanctions, which are aimed at pressuring Iran to negotiate a new agreement to halt its nuclear programmes.

Saudi Arabia Agrees To Pump More Oil to Maintain Balance

Meanwhile, Iran’s President Hassan Rouhani, has once again on Tuesday, lashed out American officials for threatening to stop Iran’s oil exports, saying they would never be able to carry out such a threat. He made these remarks in Bern in a joint press conference with his Swiss counterpart Alain Berset.

He said, “The US [officials’] statement in this regard is unilateralism…and a breach of all international rules and regulations in energy and trade sectors.”  He added that it is “incorrect and unwise” to think that “one day all oil producing countries would export their surplus oil and Iran would be the only country that cannot export its oil.”

Read More:  US urge Security Council to punish Iran for malign behaviour

President Rouhani also reaffirmed his country’s stance on Iran nuclear deal known as JCPOA after US withdrawal, saying that Tehran would stay in the deal as long as its interests are preserved.

On Sunday, Iran’s Vice President Eshaq Jahangiri said that the country was considering oil exports by the private sector in a bid to thwart US sanctions. He said, “The target of the US is firstly [to cut down Iran’s] oil [sales]. They want Iran’s oil not to be sold, which is impossible and such measures are taken in line with a psychological war.”[/vc_column_text][/vc_column][/vc_row]

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Iranian President Pezeshkian at UN says Iranians have been victims of US terrorism

Iranian President Masoud Pezeshkian said at the UN General Assembly that Iranians had been victims of US terrorism and insisted that Iran had acted in self-defence.

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Iranian President Masoud Pezeshkian accused the United States of subjecting Iranians to what he described as terrorism while addressing the United Nations General Assembly on Wednesday.

Pezeshkian said Iran had defended itself against attacks and rejected the characterisation of the country as a terrorist actor. His remarks came during a rare wartime appearance at the UN as tensions between Iran and the United States remain high.

Pezeshkian accuses US and Israel of attacks

Speaking at the General Assembly, Pezeshkian said Iranian civilians had been targeted by attacks and described the actions against his country as aggression.

“We have only defended ourselves. We are not terrorists,” he said, according to the report.

Pezeshkian also accused the United States and Israel of attacking Iran, while maintaining that Tehran’s response was an act of self-defence.

The Iranian president displayed photographs of former Supreme Leader Ali Khamenei and more than 150 schoolchildren who, according to his account, were killed during the early days of the conflict.

Iran’s message at the UN

Pezeshkian’s address came against the backdrop of the ongoing conflict between Iran and the United States and heightened tensions in the region.

Iranian officials had indicated ahead of the UN visit that they intended to highlight what Tehran considers attacks against its people and raise concerns over the international response to the conflict.

The Iranian delegation’s visit to New York also comes amid restrictions imposed by the United States on the delegation’s movement and other aspects of its stay, according to reporting ahead of the address.

Pezeshkian says Iran defended itself

Pezeshkian’s central message at the UN was that Iran’s military actions should be viewed as a response to attacks rather than terrorism.

His description of the conflict and the allegations against the United States and Israel represent the Iranian government’s position. They should therefore be attributed to Pezeshkian rather than presented as independently established facts.

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PM Modi’s Canada visit could help wrap trade talks, says Canada PM Mark Carney

Canadian PM Mark Carney said he is looking forward to hosting PM Narendra Modi, with both countries aiming to conclude their ongoing trade negotiations.

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Canadian Prime Minister Mark Carney has said he is looking forward to hosting Prime Minister Narendra Modi, as India and Canada continue efforts to advance their bilateral relationship and conclude ongoing trade negotiations.

The two countries have been working towards a Comprehensive Economic Partnership Agreement (CEPA), with both sides previously setting a target to conclude the negotiations in 2026.

Carney and Modi have held discussions on strengthening economic ties between India and Canada, including trade and investment. Their engagement has gained momentum following Carney’s visit to India earlier this year.

India-Canada trade talks

India and Canada formally resumed efforts towards a broader trade agreement after a period of strained bilateral ties. The two sides have committed to advancing negotiations on a CEPA covering their economic relationship.

In June, Carney and Modi reviewed progress in bilateral economic cooperation during their meeting on the sidelines of the G7 Summit in France. They expressed satisfaction with the progress in CEPA negotiations and reaffirmed their shared objective of concluding the talks in 2026.

During Carney’s visit to India in March, the two leaders had also agreed to accelerate negotiations on the CEPA and work towards finalising the agreement during 2026.

Modi’s proposed Canada visit

Carney had invited PM Modi to visit Canada in 2026, and the two leaders agreed to remain engaged through diplomatic channels to work towards a mutually convenient date for the visit.

The proposed visit comes as New Delhi and Ottawa seek to build on renewed diplomatic and economic engagement, with trade negotiations remaining a key part of the relationship.

The focus on completing the trade talks comes as both countries look to expand commercial ties and establish a broader economic framework through the proposed CEPA.

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Trump issues fresh Iran warning at UN General Assembly, signals deal after midterms

US President Donald Trump issued a fresh warning to Iran during his UN General Assembly address, saying he faces a choice between a deal and further escalation.

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US President Donald Trump used his address to the United Nations General Assembly on Tuesday to outline what he described as a major decision over Iran, putting the possibility of a deal against further military escalation.

Speaking at the UN in New York, Trump said he had a “big decision” to make. He questioned whether the United States should pursue an agreement that would allow Iran to rebuild or instead take further action against the Islamic Republic.

Trump later indicated that he believed an agreement with Iran could be reached after the US midterm elections, which are scheduled for November 3.

Trump says deal with Iran remains possible

During his speech, Trump presented two possible paths. He said a deal could allow Iran to rebuild and become a stronger country, while also raising the possibility of destroying the Islamic Republic if an agreement was not reached.

Trump said he believed a deal could eventually be reached, arguing that Iran was waiting to see the outcome of the US midterm elections.

His comments came amid the continuing US-Iran conflict and renewed diplomatic activity surrounding the confrontation. Trump’s UN appearance came as Washington was also engaged in discussions with multiple international leaders over the Iran conflict and other global issues.

Iranian delegation walks out during Trump’s speech

The Iranian delegation reportedly left the General Assembly chamber as Trump began describing the military confrontation with Iran.

According to the report, only one person from the Iranian delegation remained seated as Trump spoke about the conflict and the military strikes of the past six months.

The walkout came as tensions between Washington and Tehran remained high, with both sides facing pressure over the continuation of the conflict.

Trump’s latest warning follows earlier comments

Trump’s UN remarks came days after he said he was approaching a major decision over whether to intensify military action against Iran or pursue another route.

He had also indicated before his UN appearance that he could be open to meeting Iranian President Masoud Pezeshkian during the UN General Assembly in New York.

The possibility of renewed negotiations comes against the backdrop of continuing military and diplomatic tensions between the two countries.

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