Sunday, September 06
Several Indian individuals and entities have been slapped with sanctions by the US over involvement in sales Iran’s petroleum and petroleum products, news agency PTI reported on November 21.According to Trump administration, the proceeds from this trade have aided Tehran’s regional terrorist proxies in buying weapons that are “a direct threat” to the US.The entities placed under the latest sanctions by the US Departments of State and Treasury include shipping networks, and an airline and its affiliates. The shipping networks are responsible for funding the Iranian regime’s “malign activities” through illicit oil sales, and the airline and its affiliates are helping Iran-backed terrorist groups get weapons, the department said.The sanction list is known as the Treasury Departm
E-commerce platform Meesho Ltd., which plans to launch its initial public offering likely on December 3, is seeking a valuation of about 530 billion rupees ($6 billion), according to people familiar with the matter.The offering will comprise a fresh issue of shares worth 42.5 billion rupees and an offer for sale of 175.7 million shares by existing investors, according to Bengaluru-based Meesho’s draft prospectus. The price band is set at Rs 105-111 per share.The SoftBank Group Corp.-backed firm is in talks with SBI Funds Management Ltd. for a pre-IPO placement, the people said, asking not to be identified as the information is private. The potential placement could alter the IPO size, estimated at about 60 billion rupees, they said.Meesho, an online marketplace that is popular in smaller
US sanctions that come into effect on Friday could leave nearly 48 million barrels of Russian crude stranded on the water, pushing dozens of tankers to scramble for alternative destinations in the latest overhaul of the global oil trade.Washington’s move last month to blacklist top oil producers Rosneft PJSC and Lukoil PJSC is arguably its most aggressive to date under the current administration, as President Donald Trump tries to dial up pressure on the Kremlin over the war in Ukraine. The US Treasury said earlier this week that the measures were already a success, given lower demand and discounts on key Russian oil grades.With the restrictions now only hours away, Asian buyers are in a race against time. Indian refiners are rushing to find replacement supplies, booking oil tankers for
