HM the Sultan hosts, bids farewell to Iranian President
The luncheon was attended by several Royal Family members and ministers from both sides.
After the luncheon, His Majesty the Sultan bid farewell to the Iranian President, wishing him a safe return home.
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Times of Oman
8 hours ago
- Times of Oman
Taken note of US sanctions, looking into it: India's MEA
New Delhi: The Ministry of External Affairs (MEA) on Friday responded to the US announcement of sanctions on Indian companies involved in trading with Iran. MEA spokesperson Randhir Jaiswal during weekly media briefing stated that India has taken note of the sanctions and is currently reviewing the situation. Jaiswal stated, "We have taken note of the sanctions, we are looking into it." The US has imposed sanctions on 20 entities involved in Iranian petroleum, petroleum products, or petrochemical trade, and is identifying 10 vessels as blocked property, including seven India-based companies. Jaiswal emphasised that India's energy sourcing decisions are based on market conditions and geopolitical developments. When asked about Trump's comment on India potentially buying oil from Pakistan, Jaiswal declined to comment, stating, "I have no comments to offer in this matter." This response comes after Trump announced a deal between the US and Pakistan to develop Pakistan's oil reserves. "We have just concluded a deal with the country of Pakistan, whereby Pakistan and the United States will work together on developing their massive oil reserves," Trump posted on Truth Social. "We are in the process of choosing the oil company that will lead this partnership. Who knows, maybe they'll be selling oil to India some day!," Trump said. MEA spokesperson Randhir Jaiswal clarified that India doesn't have any specific information on Indian oil companies stopping Russian oil purchases, emphasising that energy sourcing decisions are based on market availability and global circumstances. "You are aware of our broad approach to energy sourcing requirements, that we look at what is available in the market and the prevailing global situation or circumstances. We are not aware of any specifics," said Jaiswal. Jaiswal highlighted that India's relationship with Russia stands on its own merit, unaffected by third-party perspectives, emphasising a steady and time-tested partnership. "Our ties with any country, or all the ties that we have with various countries, stand on their own merit and should not be seen through the prism of a third country. As far as India-Russia relations are concerned, we have a steady and time-tested partnership," said Jaiswal. Jaiswal reaffirmed the strong India-US partnership, anchored in shared interests, democratic values, and people-to-people ties, expressing confidence in the relationship's continued growth. "India and the United States share a comprehensive global strategic partnership anchored in shared interests, democratic values, and robust people-to-people ties. This partnership has withstood several transitions and challenges. We remain focused on the substantive agenda that the two countries have committed to and are confident that the relationship will continue to move forward," said Jaiswal. Recently, Trump has signed a fresh executive order imposing revised tariffs for 70 countries, including India and Pakistan, in a move that is expected to strain global trade relations further. Tariffs imposed on India's neighbouring countries are less than India's 25 per cent, except for Myanmar at 40 per cent. The new tariff for Pakistan is 19 per cent, Afghanistan 15 per cent , Bangladesh 20 per cent, Indonesia 19 per cent, Japan 15 per cent, and Sri Lanka 20 per cent. The new tariffs, outlined in a sweeping order signed on Friday (IST), will come into effect from 12:01 a.m. Eastern Daylight Time on August 7. The executive order states that the revised tariffs are aimed at addressing the national emergency declared earlier under Executive Order 14257. Trump noted that he had "recently received, among other things", new information and had determined it "necessary and appropriate" to impose additional ad valorem duties on the goods of certain trading partners. These new duties will replace those previously imposed under the same order, as amended. Other countries on which the US imposed tariffs are higher than India include Iraq (35 per cent), Laos (40 per cent), Libya (30 per cent), Serbia (35 per cent), South Africa (30 per cent), Switzerland (39 per cent), and Syria (41 per cent). Countries that imposed lower tariffs than India include the UK (10 per cent), Vietnam (20 per cent), Taiwan (20 per cent ), and South Korea (15 per cent), to name a few. The order by Trump stated, "I have determined that it is necessary and appropriate to deal with the national emergency declared in Executive Order 14257 by imposing additional ad valorem duties on goods of certain trading partners". The executive order further directs that these changes will apply to goods entering the US for consumption or withdrawn from warehouses on or after the effective date. However, goods already in transit before the deadline, loaded on vessels and en route before August 7 and entering the US before October 5, 2025, will not be subjected to the revised duties but will instead continue under the previously applicable tariff rates under the amended Executive Order 14257.
Observer
a day ago
- Observer
Omani-Chinese Friendship Forum discusses strengthening partnership
SALALAH: The third session of the Omani-Chinese Friendship Forum 2025, which began on Thursday in Salalah, discussed strengthening the comprehensive strategic partnership and expanding cooperation and investment between the Sultanate of Oman and the People's Republic of China. The forum was organised under the theme: "Chinese Modernisation and Oman Vision 2040: Our Work and Proposals." It was an initiative by Al Roya newspaper, the Embassy of the People's Republic of China in Oman, and the Oman-China Friendship Association, with the participation of a number of officials, experts and specialists from both sides. The forum was inaugurated by HH Sayyid Marwan bin Turki al Said, Governor of Dhofar, who felicitated a number of speakers and participants. Hatim bin Hamad al Tai, Secretary-General of the forum and Editor-in-Chief of Al Roya newspaper, affirmed that the forum serves as a platform to deepen dialogue, enhance mutual trust between the two countries and explore new avenues for cooperation, in line with the shared potential and aspirations of Oman and China. Dr Saleh bin Said Masan, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, delivered a speech in which he said that the forum is a unique opportunity to exchange expertise and explore promising investment areas that serve the development priorities of both countries. He pointed out that Oman Vision 2040 represents a road map for a comprehensive economic and structural transformation. Lyu Jian, Ambassador of the People's Republic of China to the Sultanate of Oman, praised the strength of the historical relations between the two countries, which span over 1,200 years. He noted that diplomatic relations, since their establishment in 1978, have witnessed stable and fruitful cooperation based on equality and mutual respect. He clarified that the People's Republic of China is Oman's first trade partner with trade volume between the two countries reaching $36.7 billion in 2024. The People's Republic of China is also the third-largest investor in Oman. The ambassador highlighted prominent joint projects, including the launch of the first Omani satellite, investments in the energy sector and training programmes that have benefited over 1,200 Omanis. He also mentioned that the trade volume between the People's Republic of China and GCC countries reached $288 billion in 2024, with Chinese investments growing by over 30 per cent in the first half of 2025. He called for expanding cultural and humanitarian cooperation and launching direct flights between the two countries. Dr Khalid bin Salim al Saidi, Chairman of the Oman-China Friendship Association, said that the association is a vital link in strengthening relations between the two countries. He emphasised that its role has gone beyond organising meetings to building cultural bridges, humanitarian understandings, and informal cooperation initiatives based on shared values and mutual interests. The forum included discussions on four main themes: "Chinese Modernisation and Oman Vision 2040," "Cooperation in the Energy Sector," "Partnership in Innovation and Technology," and "Cultural and Humanitarian Exchange." The forum also featured a photo exhibition in cooperation with the Chinese Embassy in Oman, in addition to direct bilateral meetings (B2B) between business representatives from both countries to enhance partnership and investment opportunities. Over 30 business owners and representatives of Omani and Chinese companies participated in the forum, which also included a special exhibition for the participating Chinese companies. The current session of the forum sought to solidify the strategic partnership between the two countries and explore new avenues of cooperation that support the priorities of Oman Vision 2040, leveraging the People's Republic of China's experience in economic and social modernisation. - ONA
Observer
a day ago
- Observer
Oil prices steady amid Trump tariff threats
Oil prices were little changed on Thursday as investors weighed supply risks from US President Donald Trump's push for a swift resolution to the war in Ukraine through more tariffs, while a surprise build in US crude stocks weighed on prices. Brent crude futures for September, set to expire on Thursday, rose 4 cents, or 0.05%, to $73.28 a barrel by 0812 GMT. US West Texas Intermediate crude for September also rose 4 cents, or 0.06%, to $70.04. Both benchmarks gained 1% on Wednesday. "We're looking for more clarity on the nature of new tariffs or implementation of sanctions on Russia," said Harry Tchiliguirian at Onyx Capital Group. Trump's history of imposing policies and then changing them a few days later has led traders and analysts to hesitate in pricing them in, Tchiliguirian added. Trump said he would start imposing measures on Russia, including 100% secondary tariffs on its trading partners, if it did not make progress on ending the war in Ukraine within 10–12 days, moving up an earlier 50-day deadline. The US has also warned China, the largest buyer of Russian oil, that it could face heavy tariffs if it continues buying. On Wednesday, the US Treasury Department announced fresh sanctions on more than 115 Iran-linked individuals, entities, and vessels, stepping up the Trump administration's "maximum pressure" campaign after bombing Iranian nuclear sites in June. Meanwhile, US crude oil inventories rose by 7.7 million barrels to 426.7 million barrels in the week ending July 25, driven by lower exports, the Energy Information Administration said on Wednesday. Analysts had expected a draw of 1.3 million barrels. Gasoline stocks fell by 2.7 million barrels to 228.4 million barrels, far exceeding forecasts for a draw of 600,000 barrels. "US inventory data showed a surprise build in crude stocks, but a bigger-than-expected gasoline draw supported the view of strong driving season demand, resulting in a neutral impact on the oil market," said Fujitomi Securities analyst Toshitaka Tazawa.— Reuters
