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The Latest Breaking News from Scott Bessent

‘The president wants you right away’: Treasury secretary Scott Bessent pulled from live broadcast; viewers say his voice was ‘shaken’ — watch

US Treasury Secretary Scott Bessent was unexpectedly summoned by Donald Trump during a live Sky News interview. He returned nearly two hours later, dismissing claims of presidential stress and asserting confidence in the administration's handling of the Iranian mission.

The Times of India

Hormuz miscalculation? Trump sideswiped by Iran's closure of Strait

Washington underestimated Iran's threat to close the Strait of Hormuz, causing global oil market jitters. Despite planning, economic fallout wasn't fully accounted for, leaving the US scrambling. While officials claim preparedness, limited options and high risks for naval escorts are evident. Iran signals the strait's closure remains a pressure tool.

The Times of India

Oil prices teeter above 100 dollars as US temporarily loosens Russian sanctions

Washington is temporarily allowing ‘permit countries’ to purchase Russian oil already in transit.

Evening Standard

From analysis to the latest developments in health,
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US expands Russian oil waiver to all buyers in bid to tame prices

The US has expanded a temporary sanctions waiver on the purchase of stranded Russian oil from India alone to all countries worldwide as part of ongoing efforts to ease pressure on global energy prices.

Euronews

Newsletter: Iranian Ambassador does not rule out strikes on military targets in Europe

Also in this newsletter: Israeli opposition leader Yair Lapid speaks to Euronews, and EU ambassadors to seek to renew sanctions on Russia.

Euronews

Europe rebukes US for temporarily lifting sanctions on Russian oil

German chancellor says decision is wrong and that pressure on Putin over Ukraine war should be increased

The Guardian - UK

Ship escorts to start in Strait of Hormuz "soon," Trump officials say

Scott Bessent made the comments to Sky News as he confirmed the war had cost the U.S. $11 billion thus far.

Axios

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Newsom trolls Trump as Putin’s pup after US lifts sanctions on Russian oil during Iran war

As oil prices hit $100 a barrel again Thursday, the Treasury Department said it would allow countries to purchase Russian oil ‘currently stranded at sea’

The Independent UK

The kill line v Chinamaxxing: a window into how China and the US see each other

In China, one social media trend hangs on the idea that a life in the US is always one step from disaster, while another in the US has teenagers revelling in Chinese lifestyle hacks

The Guardian - AU

Oil targets in spotlight as Iran war enters second week – as it happened

Iranian military said in a statement that oil and energy infrastructure belonging to firms that cooperated with the US would ‘immediately be destroyed’

The Guardian - AU

US navy will escort oil tankers through Strait of Hormuz despite Iran threats, says treasury secretary

Scott Bessent said Chinese tankers have passed through the Strait in what he claimed was a sign Tehran ‘have not mined’ the passage

The Independent UK

Ukraine supporters oppose easing of Russia sanctions

Numerous lawmakers, including some Republicans, are outraged about the Trump administration’s easing of sanctions on Russian oil exports, amid reports that Moscow is helping Iran target U.S. troops in the Middle East. Treasury Secretary Scott Bessent, looking to ease a supply crisis caused by the Iran war that has driven…

Roll Call

Explosions rock Tehran as US official warns 'biggest bombing' of war is coming

There is no foreseeable end to the fighting and the Trump administration approved a new $151 million arms sale to Israel after Trump said he would not negotiate with Iran without its "unconditional surrender."

Euronews

Ukraine war briefing: nationwide air alert issued after at least six killed in strikes on Kharkiv and Dnipro

Search operations under way as drones hit residential buildings; US considers lifting more sanctions on Russian oil. What we know on day 1,473

The Guardian - AU

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The Independent UK

A boost for Moscow in the shadow of Iran war: US allows India to buy Russian oil for a month

The U.S. Treasury Department’s decision to allow India to buy Russian oil for 30 days underscores a boost for Moscow's fortunes against the backdrop of the Iran war as Russia's oil export earnings help pay for its own war against Ukraine

Fortune

The Treasury may need to borrow extra $1.6 trillion to cover the hole left by tariff ruling, says CBO—adding $400 billion in debt interest by 2036

In total, deficits post-ruling will be $2 trillion larger than they were before the Supreme Court decision.

The Guardian - UK

US grants waiver to allow India to buy Russian oil amid Iran war

‘Stopgap measure’ designed to keep oil flowing into global market as Middle East crisis disrupts crude shipments

Euronews

US offers India 30-day waiver to buy stranded Russian oil amid Iran war shocks

The United States has issued a temporary 30-day waiver allowing Indian refiners to purchase Russian crude oil currently stranded at sea, as disruptions from the Iran conflict threaten global energy supplies.

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The Independent UK

US offers India 30-day waiver to buy Russian oil amid Strait of Hormuz disruption

Indian refiners, whose supplies were stuck in the Gulf, have started buying Russian oil

The Guardian - UK

Tehran warns Europe to stay out of conflict or face ‘retaliation’ – as it happened

This blog is now closed

Fortune

Trump touts tariffs as a budget fix. But the brutal truth is ‘they’re very weak’ and barely dent the $39 trillion national debt

An international tax policy expert told Fortune any form of tariff fails to “move the needle one way or the other.”

Fortune

Trump's loss of $1.7 trillion in tariff revenue will send the national debt to $58 trillion by 2036, think tank projects

The Supreme Court's invalidation of the president's sweeping import levies has blown a bigger hole in federal finances.

The Independent UK

IRS’ new CEO dodges questions over why the agency gave taxpayer info to ICE

The IRS broke the law by disclosing confidential taxpayer information ‘approximately 42,695 times’

Evening Standard

Stocks recoup some lost ground as oil price cools

With the Middle East crisis entering its fifth day, the oil price cooled a touch.

Barchart

Stock Index Futures Higher as Investors Digest U.S. ADP Jobs Report

March S&P 500 E-Mini futures (ESH26) are up +0.38%, and March Nasdaq 100 E-Mini futures (NQH26) are up +0.58% this morning, giving up earlier gains after U.S. Treasury Secretary Scott Bessent said a proposed 15% global tariff could take effect this week.

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