The US on Thursday unveiled sanctions against people and companies accused of helping to ship Iranian oil to China, the latest measure focused on Tehran's oil sector, as President Donald Trump ratchets up his “maximum pressure” campaign.
Mr Trump this week signed a memorandum ordering the US Treasury Secretary to hit Iran with sanctions and enforcement measures on those breaching existing penalties. But he has also appeared conciliatory towards Iran, saying he wants a “verified nuclear peace agreement” and for the country to be “great and successful”.
Thursday's action takes aim at a network of more than a dozen people and firms that are accused of enabling the shipment of millions of barrels of Iranian oil to China. The targets include Iranian and Indian citizens, crew management firms and a collection of ships.
“The Iranian regime remains focused on leveraging its oil revenues to fund the development of its nuclear programme, to produce its deadly ballistic missiles and unmanned aerial vehicles, and to support its regional terrorist proxy groups,” Treasury Secretary Scott Bessent said.
During his confirmation hearing, Mr Bessent criticised the sanctions policies of former president Joe Biden's administration and called for the US to have a more “muscular” sanctions regime against Iran as well as Russian entities and oil.
State Department spokeswoman Tammy Bruce said in a statement that the US “will use all tools at our disposal to hold the regime accountable for its destabilising activities and pursuit of nuclear weapons that threaten the civilised world”.
The memo Mr Trump signed this week states, among other things, that Iran should be denied a nuclear weapon and intercontinental ballistic missiles, and that the Treasury campaign should aim to bring “Iran’s oil exports to zero”.
But Mr Trump also indicated that he was open to a different relationship with Tehran and that he was “torn” about signing the memo.
“Iran cannot have a nuclear weapon,” Mr Trump said. “We don't want to be tough on Iran. We don't want to be tough on anybody, but they just can't have a nuclear weapon.”
He said he had hoped not to sign the memo.
“Hopefully, we're not going to have to use it very much,” Mr Trump said. “We will see whether or not we can arrange or work out a deal with Iran and everybody can live together, and maybe that's possible and maybe it's not possible.”
Meanwhile, Mr Trump's moves to freeze spending on foreign aid and overhaul – maybe even end – the US Agency for International Development have been lauded in Iranian state media. The reports say the decisions will halt funding for the country's opponents – activists and others supported through programmes as part of the US government's efforts to help foster democracy worldwide.
Also on Thursday, a bipartisan group of US lawmakers announced they were introducing a bill taking aim at what they said were Iran's nuclear weapons ambitions.
“A nuclear-armed Iran is a threat to Israel and the world. We must keep all options on the table to address this crisis,” congressman Mike Lawler said.
Khamenei warns of retaliation if US takes action against Iran
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In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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USA – $1.055 billion
Brazil – $143 million
Argentina – $52 million
Mexico – $36 million
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Israel – $18 million
Venezuela – $17 million
Korea – $10 million
Countries with largest unpaid bill for UN peacekeeping operations in 2019
USA – $2.38 billion
Brazil – $287 million
Spain – $110 million
France – $103 million
Ukraine – $100 million
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Young women have more “financial grit”, but fall behind on investing
In an October survey of young adults aged 16 to 25, Charles Schwab found young women are more driven to reach financial independence than young men (67 per cent versus. 58 per cent). They are more likely to take on extra work to make ends meet and see more value than men in creating a plan to achieve their financial goals. Yet, despite all these good ‘first’ measures, they are investing and saving less than young men – falling early into the financial gender gap.
While the women surveyed report spending 36 per cent less than men, they have far less savings than men ($1,267 versus $2,000) – a nearly 60 per cent difference.
In addition, twice as many young men as women say they would invest spare cash, and almost twice as many young men as women report having investment accounts (though most young adults do not invest at all).
“Despite their good intentions, young women start to fall behind their male counterparts in savings and investing early on in life,” said Carrie Schwab-Pomerantz, senior vice president, Charles Schwab. “They start off showing a strong financial planning mindset, but there is still room for further education when it comes to managing their day-to-day finances.”
Ms Schwab-Pomerantz says parents should be conveying the same messages to boys and girls about money, but should tailor those conversations based on the individual and gender.
"Our study shows that while boys are spending more than girls, they also are saving more. Have open and honest conversations with your daughters about the wage and savings gap," she said. "Teach kids about the importance of investing – especially girls, who as we see in this study, aren’t investing as much. Part of being financially prepared is learning to make the most of your money, and that means investing early and consistently."
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
