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US Pressure to Stop Buying Iran’s Oil May Trigger Crisis

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US Pressure to Stop Buying Iran’s Oil May Trigger Crisis

President Hassan Rouhani Threatens for Consequences

The US pressure on global community to stop buying Iranian oil by early November may trigger a regional crisis and force Iran to completely stop oil movement in the region. This was indicated by Iranian President Hassan Rouhani on Monday when he stressed that “it is not possible for the region’s oil to be exported while Iran’s oil is not”.

While addressing Iranian Diaspora in Swiss capital Bern, Rouhani said, “It would be meaningless that Iran cannot export its oil while others in the region can. Do this if you can and see its consequences.” Observers believe this could be serious threat.

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

He said that Iranian nation has never bowed and will never bow to the foreign pressures. He said that Swiss officials have voiced their support to JCPOA and reiterated for continuation of economic ties with Iran. Representatives of 40 Swiss companies are scheduled to hold talks with Iranian counterparts on Tuesday, he informed.

Rouhani is currently visiting Europe to discuss the fate of the multilateral nuclear deal after US withdrawal. After visiting Switzerland he is scheduled to go to Austria where he will meet President Alexander Van der Bellen and Chancellor Sebastian Kurs.

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

On Monday, Rouhani met his Swiss counterpart Alain Berset and discussed issues of common interest and explored the ways to strengthen ties in various fields. He described the Iran deal as “multilateral international agreement” adding that the US withdrawal from the accord proved its lack of commitment to its international obligations.

US Pressure to Stop Buying Iran’s Oil May Trigger Crisis

Meanwhile, Brian Hook, the State Department Director of Policy Planning, on Monday, has spelled out a campaign of “maximum economic and diplomatic pressure” to drive Iran towards negotiating a “better” deal to replace the Iran nuclear deal.

He told reporters that Iran is not a “normal” country and must meet 12 demands in order to be relieved of US sanctions. “Normal countries don’t terrorize other nations, proliferate missiles and impoverish their own people,” he said.

He further said, “This new strategy is not about changing the regime, it is about changing the behaviour of the leadership in Iran to comport with what the Iranian people really want them to do.”

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

US Department of State called on its allies in Europe, Asia and the Middle East to adhere to the sanctions with the aim of pressuring Iran into negotiating a new agreement.

By the end of this week Hook is scheduled to visit aome European allies: Britain, France and Germany to discuss Iran. Hook has also said he and senior Treasury Department officials would visit Gulf states “in the coming days.”

Hook told reporters that the goal of the US was to get as many countries as possible down to zero Iranian oil imports. “Our goal is to increase pressure on the Iranian regime by reducing to zero its revenue on crude oil sales,” he said.

“We are working to minimize disruptions to the global market but we are confident there is sufficient global spare oil capacity.”

Read More: Khamenei: US will fail in dividing Iran’s people and government

He also claimed that more than 50 international firms have already announced their intention to leave the Iranian market, especially in the energy and financial sectors.

The State Department official said that new sanctions, describes as “snap back” sanctions, will begin on August 4, targeting Iran’s automotive sector and its trade in gold and other key metals.

The second set of sanctions will snap back on November 6 targeting Iran’s energy sector, focusing on petroleum-related transactions, plus transactions with the central bank of Iran.

The move comes two months after US President Donald Trump announced US withdrawal from the Iran nuclear deal.

During 1980-1988 Iraq-Iran war, when most of the Arab states and Western countries were supporting Iraq’s Saddam Hussein regime against newly established Islamic Republic of Iran after throwing pro-US Shah Pehlavi out of power, Tehran had threatened to stop oil movement from regional Arab countries by blocking the Strait of Hormuz, the world’s most strategic important choke point. It is the narrowest strait having width of 54 kms.

Observers consider that Iran’s President Hassan Rouhani’s threat of “consequences” in case Iran’s oil was not allowed to be exported may cause a huge crisis in the region.

US Pressure to Stop Buying Iran’s Oil May Trigger Crisis

Meanwhile Major General Gholam Ali Rashid, a senior commander of Islamic Revolution Guards Corps (IRGC), said on Monday, that any threat against Iran at any level will not be left unanswered and emphasised that the country’s armed forces were fully prepared to give a firm and crushing response to enemies.

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Pakistan hit by 5.5-magnitude earthquake, no casualties or damage reported

A 5.5-magnitude earthquake jolted Pakistan on Friday, with authorities reporting no immediate casualties or significant damage.

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earthquake-tremors

A magnitude 5.5 earthquake struck Pakistan on Friday, sending tremors across several parts of the country. However, authorities said there were no immediate reports of casualties or significant property damage.

According to seismic monitoring agencies, the earthquake was recorded at a considerable depth, which may have reduced the impact on the surface. Residents in several cities reported feeling the tremors, prompting many to move outdoors as a precaution.

Emergency and disaster management authorities began assessing the situation soon after the quake. Initial assessments indicated that no major damage to infrastructure or loss of life had been reported. Officials continue to monitor the situation for possible aftershocks.

Pakistan lies in a seismically active region due to the interaction of the Indian and Eurasian tectonic plates, making earthquakes a frequent occurrence in several parts of the country.

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Twin earthquakes strike Venezuela within 39 seconds, triggering panic in Caracas

Venezuela witnessed two powerful earthquakes within 39 seconds, triggering panic in Caracas, damaging infrastructure and leading authorities to declare a state of emergency.

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Two powerful earthquakes struck Venezuela within just 39 seconds, causing widespread panic, damaging buildings and disrupting key infrastructure in and around the capital, Caracas.

According to the United States Geological Survey (USGS), the first earthquake measured magnitude 7.2 and struck on Wednesday evening near the coastal town of Moron. Just 39 seconds later, a stronger 7.5-magnitude tremor hit roughly 45 kilometres away, creating what seismologists described as a “doublet” earthquake sequence.

The back-to-back quakes sent residents rushing into the streets as buildings shook violently across Caracas. Several structures suffered severe damage, with reports of building collapses in parts of the capital. Rescue workers were deployed to search through rubble while emergency teams assessed the extent of the destruction.

Visuals shared on social media showed scenes of chaos at Simon Bolivar International Airport, where parts of the terminal roof reportedly collapsed, filling sections of the facility with dust and smoke. Passengers were seen evacuating the airport as power flickered during the tremors. Authorities later announced the closure of the airport because of significant damage.

More than 20 aftershocks were recorded following the twin earthquakes, raising concerns about additional structural damage. The USGS warned that the disaster could result in significant casualties and economic losses, while landslides were also reported in affected areas.

Venezuela’s interim president Delcy Rodriguez declared a state of emergency following the earthquakes and urged citizens to remain cautious as emergency response efforts continued. Opposition leader Maria Corina Machado also expressed solidarity with those affected by the disaster.

The earthquakes are being described as among the strongest to strike Venezuela in more than a century. Authorities continue to assess the full scale of the damage and search for possible victims trapped beneath collapsed structures.

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London court orders Nirav Modi to pay Bank of India over $11.5 million in loan guarantee case

A London court has ruled that fugitive businessman Nirav Modi must pay Bank of India more than $11.5 million, including interest, in a loan guarantee dispute.

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Fugitive diamond merchant Nirav Modi has been ordered by a London court to pay Bank of India more than $11.5 million, including accrued interest, in connection with a personal guarantee linked to a loan extended to one of his Dubai-based firms.

In a significant ruling delivered by the London Circuit Commercial Court, Justice Simon Tinkler held that Modi remained liable under the personal guarantee issued for a loan granted to Firestar Diamond FZE, a Dubai-incorporated company associated with him. The court rejected Modi’s challenge to the enforceability of the guarantee.

The court examined whether Modi had been properly served with a demand notice, whether the demand related to a liability owed to the bank, and whether the personal guarantee was legally enforceable. Justice Tinkler ruled in favour of Bank of India on all three issues.

According to the judgment, Modi is liable for the principal outstanding amount of $4.1 million. After adding accumulated interest, the total payable amount has risen to an estimated $11.5 million as of March 2026, with additional interest continuing to accrue.

The public sector lender has been pursuing recovery proceedings against Modi since 2018, following the emergence of allegations involving companies linked to the businessman. Modi, who has largely represented himself in the proceedings, is currently lodged in a UK prison while contesting his extradition to India in a separate Punjab National Bank fraud and money laundering case.

Law firm Fladgate LLP, representing Bank of India, clarified after the verdict that the proceedings were strictly related to a commercial banking recovery claim and did not deal with the wider allegations connected to the Punjab National Bank fraud case.

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