US wants others to terminate Iran oil imports
Washington, June 27 : The US State Department has been pushing countries to stop importing oil from Iran by November, an official said.
The Donald Trump administration has been pushing allies to stop oil imports from Iran by November 4, the senior US State Department official told reporters on Tuesday.
The official also said the US at present was "not granting waivers" to any country which was in business with Iran, Xinhua news agency reported.
When asked how related countries responded, the official said that there was "some kind of effect achieved".
Following Trump's decision to quit the historic Iran nuclear pact on May 8, the US vowed to re-impose sanctions lifted under the accord against Tehran and inflict punishments like secondary sanctions on nations that have business links with them.
Firms that were doing business in Iran were given up to 180 days to wind up investments. Otherwise, they risk huge fines.
Washington's withdrawal from the landmark Iran nuclear deal was widely criticised and some of its major European allies have been working to prevent the 2015 deal from falling apart.
A senior official from Iran's Foreign Ministry said on June 23 that European countries will soon offer a package to protect Iran's interests in accordance with the 2015 deal, official IRNA news agency reported.
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Modi urges industry to ramp up investment, prioritise research to scale up manufacturing
New Delhi (PTI): Prime Minister Narendra Modi on Tuesday urged industry leaders to step up investments, embrace emerging technologies and prioritise research to help India Inc fully leverage the vast opportunities offered by free trade agreements with various nations.
"The days of cutting corners in research are over. We must now make substantial investments in research and development and ensure that our products meet global quality standards. Now we have got opportunities to move forward, so we should have only one mantra - Quality, Quality, Quality," he said while addressing a second webinar on Budget 2026-27.
Stressing that India has entered into free trade agreements with numerous countries, he said, these agreements have opened up a wide range of opportunities for the country.
"In such a situation, he said, "our responsibility is that we should never compromise on quality."
Today, the world is seeking reliable and resilient manufacturing partners, he said, adding that India has a strong opportunity to fulfil this role.
"Our direction is clear. Our resolve is clear. Build more, produce more, connect more, and now the need is to export more," he said.
Pointing out that a significant transformation is currently underway in the global economy, he said that markets are no longer focused solely on cost; sustainability has become an equally important consideration.
"The Carbon Capture, Utilization, and Storage Mission is a key initiative driving this shift. Incorporating sustainability into core business strategies is now essential. Industries that invest early in clean technologies will gain better access to emerging markets in the years ahead," he said.
Highlighting the importance of infrastructure and logistics, he said, they serve as fundamental pillars of our growth strategy.
This year's budget proposes a record level of capital expenditure to support these priorities, he said.
As India emerges as a beacon of hope for the world thanks to its robust economy, and as global supply chains undergo transformation, the prime minister said, rapid economic development has become the cornerstone for realising the vision of Viksit Bharat.
