logo
US hits back at accounts Iran moved uranium

US hits back at accounts Iran moved uranium

CNA7 days ago
WASHINGTON: President Donald Trump's administration hit back on Wednesday (Jun 25) at accounts Iran may have moved enriched uranium before US bombing, as a row grew on how much the strikes set back Tehran's nuclear programme.
Trump, seeking credit for ordering military action and then quickly announcing a ceasefire between Israel and Iran, has lashed out angrily at media accounts of a classified report that doubted the extent of damage to Iranian nuclear sites.
Another key question raised by experts is whether Iran, preparing for the strike, moved out some 400kg of enriched uranium - which could now be hidden elsewhere in the vast country.
"I can tell you, the United States had no indication that that enriched uranium was moved prior to the strikes, as I also saw falsely reported," White House Press Secretary Karoline Leavitt told Fox News.
"As for what's on the ground right now, it's buried under miles and miles of rubble because of the success of these strikes on Saturday evening," she said.
Vice President JD Vance, asked about the uranium on Sunday, had sounded less definitive and said the United States would discuss the issue with Iran.
"We're going to work in the coming weeks to ensure that we do something with that fuel," Vance told ABC News programme This Week.
The quantity of uranium had been reported by the UN nuclear watchdog, the International Atomic Energy Agency, with which Iran is considering severing cooperation after the Israeli and US strikes on its nuclear programme.
"The IAEA lost visibility on this material the moment hostilities began," the agency's chief, Rafael Grossi, told France 2 television.
But he added: "I don't want to give the impression that it's been lost or hidden."
TRUMP LASHES OUT
The US military said it dropped 14 GBU-57 bunker-buster bombs - powerful 13,600kg weapons - on three Iranian nuclear sites.
Trump has repeatedly said that the attack "obliterated" Iran's nuclear facilities, including the key site of Fordo buried inside a mountain.
But an initial classified assessment, first reported by CNN, was said to have concluded that the strike did not destroy key components and that Iran's nuclear programme was set back only months at most.
Trump furiously lashed out at the CNN reporter behind the story, taking to his Truth Social platform to demand that the network fire her.
Trump also said that Defense Secretary Pete Hegseth, whom he dubbed "war" secretary, would hold a news conference at 8am on Thursday to "fight for the dignity of our great American pilots" after the media accounts on the efficacy of the strike he ordered.
Trump's intelligence chiefs also pushed back on Wednesday.
CIA Director John Ratcliffe in a statement said that new intelligence from a "historically reliable" source indicated that "several key Iranian nuclear facilities were destroyed and would have to be rebuilt over the course of years."
Iran's government has said that its nuclear facilities were "badly damaged".
The uranium in question is enriched to 60 per cent - above levels for civilian usage but still below weapons grade.
The IAEA, in a report cited by the United States and Israel to justify their attacks, said that Iran was not complying with obligations but did not find that Tehran was making a nuclear bomb.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Gold falls after US-Vietnam trade deal; US payroll data eyed
Gold falls after US-Vietnam trade deal; US payroll data eyed

Business Times

time2 hours ago

  • Business Times

Gold falls after US-Vietnam trade deal; US payroll data eyed

[BENGALURU] Gold prices declined on Thursday (Jul 3) after a US-Vietnam trade deal eased tensions, while investors awaited the US payroll data later in the day for clues about the Federal Reserve's policy path. Spot gold lost 0.3 per cent to US$3,345.57 per ounce as at 0029 GMT, while US gold futures fell 0.1 per cent to US$3,356.60. The US will impose a lower-than-promised 20 per cent tariff on various goods from Vietnam, US President Donald Trump announced on Wednesday. The South-east Asian nation is the US's tenth-largest trading partner. Meanwhile, US and India negotiators pushed to finalise a tariff-reducing deal ahead of Trump's Jul 9 deadline. However, disagreements around US dairy and agricultural exports remained unresolved, sources familiar with the talks said. Trump has indicated no signs of extending the negotiation deadline despite stalled discussions with Japan, another key trade partner, but expressed optimism about an India deal. Data released by ADP showed US private payrolls dropped by 33,000 jobs in June, marking the first decline in more than two years, as economic uncertainty hampered hiring. Meanwhile, low layoffs continued to anchor the labour market. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Investors are now awaiting the non-farm payrolls report on Thursday, which is expected to show an addition of 110,000 jobs in June, down from 139,000 in May, according to a Reuters poll. The market currently anticipates a 66-basis-point rate cut by the Fed this year between September and December. Non-yielding gold tends to perform well during economic uncertainty and in a low-interest-rate environment. Meanwhile, Republicans in the House of Representatives struggled to pass Trump's massive tax cut and spending bill as a handful of hardliners withheld support over concerns about its cost. Spot silver fell 0.6 per cent to US$36.36 per ounce, platinum lost 0.5 per cent to US$1,412.13 and palladium shed 0.4 per cent to US$1,150.28. REUTERS

South Korea's stock market is having a moment
South Korea's stock market is having a moment

Straits Times

time2 hours ago

  • Straits Times

South Korea's stock market is having a moment

South Korean President Lee Jae Myung pledged to lift the Kospi to 5,000, and created an ad hoc 'Kospi 5000' committee tasked with implementing his promises. SEOUL – Even as the K-pop heartthrobs of BTS plot their return to arenas worldwide after their military service, the hottest thing in South Korea lately has been its stock market. Global investors poured almost US$3 billion (S$3.8 billion) into Korean equities in May and June, propelling the country's benchmark index up about 28 per cent in the first half of 2025, trailing globally only Slovenia's blue-chip index, a gauge of Zambian equities and a basket of 20 Polish stocks. It's a dramatic turnaround for a place that's undergone huge political and economic turmoil in recent months: a declaration of martial law (rescinded hours later), a presidential impeachment and removal from office, and Donald Trump's 10 per cent tariffs – scheduled to jump to 25 per cent on July 9 – which threaten to wreak havoc on South Korea's export juggernauts such as Hyundai, LG and Samsung. Despite those hurdles and the global malaise stemming from wars in the Middle East and Ukraine, investors are piling into Korean stocks because, they say, the country's business culture is poised for a sharp transformation. 'Such movements are unstoppable once they start,' says Kim Ki Baek, a portfolio manager at Korea Investment Management. For decades the economy has been ruled by so-called chaebol, family-controlled companies that rose from the rubble of the Korean War seven decades ago. These companies, including the aforementioned giants and lesser-known outfits that make everything from K-pop hits to steel, have long been criticized for weak corporate governance, stifling competition and skirting inheritance taxes. With support from authoritarian governments in the 1960s and '70s, they've helped transform South Korea into an economic powerhouse, and today the top four companies account for more than half the value of the Kospi 200 Index. But increasingly regulators and investors consider these companies a liability, responsible for what the market calls the Korea discount, the lower valuations of the country's equities versus those of their peers in Taiwan and Japan. Although the discount has long been blamed on the proximity of the belligerent regime in North Korea, there's growing consensus that the root cause has more to do with concerns about corporate governance at the chaebol. South Korea's recent turmoil has had at least one benefit: the expectation of more investor-soothing corporate legislation. Voters replaced ousted President Yoon Suk Yeol with Lee Jae Myung of the Democratic Party; with his party controlling parliament, he's got a far better chance of passing laws regarding the capital markets. Topping the lawmakers' agenda are measures aimed at stopping companies from benefiting founding families to the detriment of minority shareholders. During the campaign, Mr Lee frequently pledged to lift the Kospi to 5,000, or about double its level at the time, and he's created an ad hoc 'Kospi 5000' committee that's tasked with implementing his capital-markets promises. Even though reaching 5,000 anytime soon seems unlikely – the index hit 3,000 on June 20, a couple of weeks after the election – the pledge has filled investors with optimism. 'At this stage, I don't think 4,000 is impossible,' says Cha So-Yoon, an equity investment manager at Taurus Asset Management. 'That's because we have the fundamental support of the companies this time around.' Locals are (quite literally) invested in the outcome. Almost 30 per cent of South Koreans now own shares, more than double the level in 2019, and they've become a powerful political force. In 2024, objections from retail investors helped scuttle a proposed merger of two independent affiliates of Doosan Group, a maker of construction equipment that calls itself Korea's oldest company. Around the same time, their protests spurred lawmakers to scrap proposed capital-gains taxes on small holdings of domestic stocks. Investors know that changing the chaebol structure won't be easy. In 2015, Elliott Management failed in an effort to block the merger of two Samsung affiliates on concerns that the deal undervalued a company in which the activist hedge fund held shares. Several former presidents have also tried to implement various reforms, but they've encountered strong resistance. For instance, the impeached president backed measures aimed at boosting shareholder returns, but they weren't binding, so chaebol directors rarely followed them. Mr Lee, who often says he's an 'ant' – what small investors call themselves, in reference to their power when working together – is proposing mandatory changes. 'The Democrats now will have a much easier time,' says Jon Withaar, a fund manager at Pictet Asset Management in Singapore, praising the new president for 'being so deliberate in trying to unwind the Korea discount.' Park Jinho, head of equity investment at NH-Amundi Asset Management, says one way to persuade the chaebol to accept the changes would be to avoid measures that their founders perceive as punitive. And he suggests lowering taxes on dividends or inheritance, which are among the world's highest, to offer families a way to diversify. 'The conglomerates have contributed greatly to the Korean economy,' Mr Park says. 'There should be policies that give them a fair way to accumulate wealth.' BLOOMBERG

US, India push for trade pact after Trump strikes deal with Vietnam: Sources
US, India push for trade pact after Trump strikes deal with Vietnam: Sources

Straits Times

time3 hours ago

  • Straits Times

US, India push for trade pact after Trump strikes deal with Vietnam: Sources

Sign up now: Get ST's newsletters delivered to your inbox WASHINGTON/NEW DELHI - US and India trade negotiators were pushing on July 2 to try to land a tariff-reducing deal ahead of President Donald Trump's July 9 negotiating deadline, but disagreements over US dairy and agriculture remained unresolved, sources familiar with the talks said. The push comes as Mr Trump announced an agreement with Vietnam that cuts US tariffs on many Vietnamese goods to 20 per cent from his previously threatened 46 per cent. Mr Trump said that US products could enter Vietnam duty free, but details were scant. Mr Trump threatened a 26 per cent duty on Indian goods as part of his April 2 'Liberation Day' reciprocal tariffs, which were temporarily lowered to 10 per cent to buy time for negotiations. Sources in India's commerce ministry said that a trade delegation from India was still in Washington a week after arriving for talks that started last week. They may stay longer to conclude a deal, but without compromising on key agricultural and dairy issues, the sources said, adding that it was unacceptable to lower tariffs on genetically modified corn, soybeans, rice and wheat grown in the US. Prime Minister Narendra Modi's government 'doesn't want to be seen as surrendering the interests of farmers - a strong political group in the country', one of the sources said. However, India is open to lowering tariffs on walnuts, cranberries and other fruits, along with medical devices, autos and energy products, the source said. A US source familiar with the talks said that there were 'indications that they are close' and negotiators have been told to prepare for a potential announcement. The source added that 'there's been intense and constructive effort to close a deal. I think both sides understand the strategic importance, beyond the economic importance, of closing a deal'. Mr Trump echoed those sentiments on July 1, telling reporters on Air Force One that he could reach a deal with India that would cut tariffs for both countries and help American companies compete in India's market of 1.4 billion consumers. At the same time, Mr Trump cast doubt on a potential deal with Japan, saying he may impose a tariff of 30 per cent or 35 per cent on Japanese goods, well above the 24 per cent duty rate he announced on April 2. Japan is seeking to lower separate 25 per cent automotive and steel tariffs that Mr Trump imposed. Spokespersons for the US Trade Representative's office, the Commerce Department and the US Treasury did not respond to request for comment on the state of trade negotiations with India and other countries. A spokesperson for India's embassy in Washington did not respond immediately to a request for comment. REUTERS

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store