Ukraine carried out multiple counter attacks on Russian targets Sunday after deadly Russian air raids on Ukrainian cities. At least 10 people were reportedly killed and dozens of others injured in Russian drone and missile attacks in Kherson, Odesa, Donetsk, Zaporizhzhia and Sumy at the weekend. A high-rise residential complex in Moscow was hit in a rare overnight Ukrainian drone attack in the h
Iran has warned of serious consequences to US military's plan to guide stranded ships through the Strait of Hormuz. Major General Ali Abdollahi, the head of Iran's central command, warned, "Any foreign armed force, especially, the aggressive US army," which tries to enter the Strait, will be attacked. "Any American interference" in the vital trade route would be "considered a violation of the c
The Department of State has announced it will provide up to $100 million in foreign assistance funding toward coordinated G7 efforts to ensure the continued containment of fissile nuclear material at the Chernobyl nuclear power plant in Ukraine. For three decades, the United States and G7 partners have led efforts to secure nuclear material at the Chernobyl plant, with the United States providi
The U.S. government has imposed sanctions on 35 entities and individuals that oversee Iran's shadow banking architecture, facilitating the movement of the equivalent of tens of billions of dollars tied to sanctions evasion and Iran's sponsorship of terrorism. These networks allow Iran's armed forces—including the Islamic Revolutionary Guard Corps (IRGC)—to access the international financial syst
Rising oil prices linked to the Middle East crisis are driving up the cost of plastics, with impacts spreading across global supply chains. According to UN trade and development body, UNCTAD, the price of key materials such as polyethylene has surged sharply in recent weeks, reflecting the steep rise in crude oil prices. When oil prices surge, the impact goes far beyond fuel. It runs through glo
With top diplomats gathered at UN Headquarters to review the 1970 Treaty on the Non-Proliferation of Nuclear Weapons, the UN Secretary-General warned that it must evolve to survive the age of AI and other new technologies. For the first time in decades, the number of nuclear warheads is on the rise. Nuclear testing is back on the table and global military spending jumped to $2.7 trillion in 2025.
European Institutions have agreed on a Roadmap to achieve "One Europe, one Market" by the end of 2027. Cyprus President Nikos Christodoulides, as the rotating Presidency of the Council of the European Union, European Parliament President Roberta Metsola and European Commission President Ursula von der Leyen signed the "One Europe, One Market Roadmap On the sidelines of the Informal meeting of Hea
The U.S. Government has imposed sanctions on a Cambodian senator who controls scam compounds throughout the country, as well as 28 individuals and entities in his network, for defrauding Americans. The U.S. Department of the Treasury said Southeast Asian scam operators within this network have stolen...
The Justice Department has announced $300 million in funding to prevent and prosecute fraud and other crimes nationwide. The new Special Attorneys Program notice of funding opportunity will support state, local, Tribal, and territorial prosecuting agencies in designating qualified prosecutors to serve as Special Attorneys within the Department's National Fraud Enforcement Division or Criminal Di
With no progress in sight in easing tensions in the Middle East crisis, and the Strait of Hormuz continues to remain blocked, oil prices again crossed the $100 mark, rising for the fourth consecutive session. Brent crude is inching towards $104 per barrel on Thursday, increasing by 1.87 percent, while the US-traded WTI rose above $94. Even as President Donald Trump announced that he would extend
The Department of War has released President Donald Trump's massive Defense Budget, which proposes to raise total defense-related spending to $1.5 trillion for Fiscal Year 2027. The largest request in the post-WWII era, the budget aims to strengthen U.S. military readiness against threats from Iran, China and Russia. The Defense Budget for FY27 marks a 42 percent increase over current funding l
The U.S. government has imposed sanctions on eight individuals and four entities that operate multiple procurement networks supporting Iran's UAV and ballistic missile programs. The Department of the Treasury's Office of Foreign Assets Control (OFAC) is also targeting Mahan Air, which has previously...
As the 10-day ceasefire set to expire on Wednesday, Iran has warned that it is preparing "new cards on the battlefield" if the Middle East war resumes. "In the past two weeks, we have been preparing to show new cards on the battlefield," in the last two weeks and would "not accept negotiations under the shadow of threats," Iran's parliamentary speaker Mohammad Bagher Ghalibaf wrote on X.While U
UN independent human rights experts have called for justice and accountability for young women and girls who were trafficked systematically as part of allegations contained in the so-called Epstein files. The Human Rights Council-appointed experts also issued a general warning over the "continuing violence of patriarchal power systems" revealed in the files, which the US Department of Justice beg
A resolutions that would block the transfer of select weapons to Israel has failed in the Senate for the fourth time. The resolutions, which aimed at limiting President Donald Trump's power to wage war against Iran, was rejected by 52 to 47 votes, mostly along party lines. Democrat Senator John Fetterman opposed the Bill, while Republican Senator Rand Paul voted for the measure, which would have
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.