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Israel’s carefully planned attack on Iran was prompted by internal divisions, US pressure

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

PM Netanyahu’s war cabinet had initially approved plans for a strike on Monday night inside Iranian territory to respond forcefully to last Saturday’s missile and drones from Iran, but held back at the last-minute, three sources with knowledge of the situation said, as per Reuters.

Israel’s apparent strike on Iran after days of vacillation was small and appeared calibrated to dial back risks of a major war, even if the sheer fact it happened at all shattered a taboo of direct attacks that Tehran broke days earlier.

Prime Minister Benjamin Netanyahu‘s war cabinet had initially approved plans for a strike on Monday night inside Iranian territory to respond forcefully to last Saturday’s missile and drones from Iran, but held back at the last-minute, three sources with knowledge of the situation said.

By then, the sources said, the three voting members of the war cabinet had already ruled out the most drastic response – a strike on strategic sites including Iran‘s nuclear facilities whose destruction would almost certainly provoke a wider regional conflict.

Facing cabinet divisions and strong warnings from partners including the United States and in the Gulf not to escalate, and aware of the need to keep international opinion on Israel’s side, the plans to hit back were then postponed twice, the sources said. Two war cabinet meetings were also delayed twice, government officials said.

Netanyahu’s office did not respond to requests for comment for this story. Before the attack, a spokesperson for the government’s National Public Diplomacy Directorate cited Netanyahu as saying Israel would defend itself in whatever way it judged appropriate.

Reuters spoke to a dozen sources in Israel, Iran and in the Gulf region, as well as the United States, who described six frantic days of efforts in the Gulf, the US and among some of Israel’s war planners to limit the response to Iran’s first ever direct attack on its arch rival after decades of shadow war.

“We warned against the grave danger inherent in further escalation,” Jordan’s Foreign Minister Ayman Safadi told Reuters, saying a wider regional conflict would have catastrophic consequences and risked diverting global attention from Israel’s ongoing war in Gaza.

Safadi said his country, which borders Israel, had “made it clear to all it will not be a battleground for Israel and Iran. This firm position was unequivocally delivered to all.”

Most of the sources asked not to be named to speak about sensitive matters.

The eventual strike on Friday appeared to target a Iranian Air Force base near the city of Isfahan, deep inside the country and close enough to nuclear facilities to send a message of Israel’s reach but without using airplanes, ballistic missiles, striking any strategic sites or causing major damage.

Iran said its defence systems shot down three drones over a base near Isfahan early on Friday. Israel said nothing about the incident. US Secretary of State Antony Blinken said the United States had not been involved in any offensive operations,

An Iranian official told Reuters there were signs the drones were launched from within Iran by “infiltrators,” which could obviate the need for retaliation.

A source familiar with western intelligence assessments of the incident also said initial evidence suggested Israel launched drones from inside Iranian territory. Iran’s foreign ministry did not respond to a request for comment.

“Israel tried to calibrate between the need to respond and a desire not to enter into a cycle of action and counter reaction that would just escalate endlessly,” said Itamar Rabinovich, a former Israeli ambassador to Washington.

He described the situation as a dance, with both parties signalling to each other their intentions and next steps.

“There is huge relief across the Gulf region. It looks like the attack was limited and proportionate and caused limited damage. I see it a de-esclation,” veteran Saudi analyst Abdelrahman al-Rashed told Reuters.

Biden call

The decision to hold back from broader and immediate action this week underlined the competing pressures on Netanyahu’s government in the aftermath of the more than 300 drones and ballistic and cruise missiles fired by Iran on Saturday night.

As Iran’s barrage unfolded, two members of the war cabinet, Gantz and Gadi Eisenkot, both former armed forces commanders, wanted to respond straight away before agreeing to hold off following a call with US President Joe Biden and in the face of differing views from other ministers, two Israeli officials with knowledge of the situation said.

A spokesman for Gantz, a centrist who joined Netanyahu’s emergency government following the Hamas-led attack on Israel last October, did not respond to a request for comment.

The US State Department declined to comment to questions about Israel’s decision-making. Washington was working to de-escalate tensions, Blinken said on Friday. The White House did not immediately respond to a request for comment.

Aryeh Deri, the head of one of the ultra Orthodox parties in Netanyahu’s coalition, who has observer status in the war cabinet and who has generally been wary of drastic moves, was firmly opposed to an immediate strike against Iran, which he believed could endanger the people of Israel given the risk of escalation, a spokesperson for his party said.

“We should also be listening to our partners, to our friends in the world. I say this clearly: I see no shame or weakness in doing so,” Deri told the “Haderech” newspaper.

Israel’s options ranged from strikes on strategic Iranian facilities, including nuclear sites or Revolutionary Guards bases, to covert operations, targeted assassinations and cyber attacks on strategic industrial plants and nuclear facilities, analysts and former officials in Israel have said.

Gulf countries had been increasingly worried the situation would spill into “a grave regional conflagration which might be beyond anyone’s control or ability to contain,” said Abdelaziz al-Sagher, head of the Saudi-based Gulf Research Center.

Saudi Arabia and the United Arab Emirates had publicly called for maximum “self-restraint” to spare the region from a wider war.

Sagher said Gulf countries had warned the United States of the risk of escalation, arguing Israel should conduct only a limited attack without casualties or significant damage that could provoke a major reprisal.

This messaging “was relayed forcefully” in the last few days by the Jordanians, Saudis, and Qataris through direct security and diplomatic channels, one senior regional intelligence source said.

The governments of Qatar, Saudi Arabia and UAE did not immediately respond to requests for comment.

By Thursday, four diplomatic and government sources in the region were expressing confidence that the response would be limited and proportionate.

Ahead of the overnight Israeli strike, one regional source, who had been briefed on Israel’s thinking, said the response would aim to minimize or completely avoid casualties and was likely to target a military base.

Flying F-35 fighter jets from Israel to Iran, or launching missiles from Israel would almost certainly violate the airspace of neighbouring countries, angering Arab states who Netanyahu has long sought to cultivate as strategic allies, said a Gulf government source with knowledge of the issues.

He couldn’t “just fly F-35 fighter jets across the region and bomb Iran or its nuclear sites,” the source said.

Iranian officials had warned a major Israeli attack would trigger immediate retaliation.

Iran’s options to respond included shutting down the Strait of Hormuz through which about a fifth of the world’s oil passes, urging proxies to hit Israeli or US interests, and deploying previously unused missiles, a senior Iranian official said.

While satisfying Israel’s moderates at home, its neighbours and international partners, the measured strike, when it came, was met with dismay from hardliners in Netanyahu’s cabinet.

National Security Minister Itamar Ben Gvir, whose ultranationalist party is a key prop in Netanyahu’s coalition, posted a single word on X, “Feeble.”

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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West Asia Tensions: Experts weigh in on Iran-Israel escalation risks post Isfahan blasts

Explosions reverberated through the central province of Isfahan in Iran, according to reports from Iranian media outlets. The incident, initially downplayed by Iran’s space agency spokesperson who claimed several drones had been successfully intercepted, has stirred speculation regarding the source and motives behind the explosions.

While Iranian authorities attributed the explosions to the downing of drones, media reports citing US officials pointed fingers at Israel, alleging military operations within Iranian territory. Despite the potential for escalating tensions between the long-standing adversaries, Iranian officials have stated that they currently have no plans for immediate retaliation.

In an interview with CNBC-TV18, Syed Akbaruddin, former Permanent Representative to the United Nations, provided insight into the significance of the incident, describing it as a departure from previous norms in the Iran-Israel dynamic.

He noted that while the two nations have historically refrained from direct attacks on each other’s territories, this recent development marks a notable escalation. However, he highlighted the restrained reactions from both sides as potentially signalling a de-escalation rather than further confrontation.

Amidst the unfolding situation, commercial flights have altered their routes over western Iran, including Isfahan, opting to skirt Tehran to the north in response to heightened security concerns.

Meanwhile, on the international stage, the United States vetoed a request by Palestine to become a full member of the United Nations Security Council (UNSC). The European Union Commission President urged restraint from both Israel and Iran, emphasising the importance of maintaining stability in the region.

In response to Iran’s drone attack on Israel, EU leaders have reached a consensus to impose new sanctions targeting Iran’s drone and missile producers.

Additionally, Qatar has expressed concerns over its role as a mediator between Israel and Hamas, citing interference from unnamed politicians undermining its efforts. The Qatari Prime Minister indicated a reassessment of Qatar’s involvement in light of these challenges.

Watch the accompanying video for the entire discussion.

 5 Minutes Read

This expert does not see oil prices receding much from current levels

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Vandana Hari, Founder and CEO of Vanda Insights .says the geopolitical tensions have built in a premium of $12-15 per barrel in crude taking crude to $90 per barrel.

Vandana Hari, Founder and CEO of Vanda Insights, suggests that whether Brent crude stabilises around the $75 to $80 per barrel range or stays nearer to $85 to $90 per barrel depends largely on the developments in the conflicts between Iran and Israel, as well as Ukraine and Russia.

According to Vandana, the geopolitical tensions have resulted in a premium in crude of $12-15 per barrel taking it to $90 per barrel currently. “I don’t see that receding much,” she said.

She believes a substantial pullback will be needed. “Some sort of a ceasefire agreement, some temporary rapprochement in Ghaza and then followed by a more enduring peace deal over there. That premium remains intact. There is a bit of premium on account of the heightened warfare between Ukraine and Russia as well,” she explained.

Oil prices jumped $3 a barrel on Friday in reaction to unconfirmed reports on X that explosions had occurred in Iran, sparking concerns that Middle East oil supply could be disrupted.

Brent futures jumped $3.03, or 3.5%, to $90.14 a barrel by 0147 GMT, and US West Texas Intermediate crude rose $3.03, or 3.7%, to $85.76 per barrel.

Amrita Sen, Founder and Director-Research, Energy Aspects sees the potential for it to reach triple-digits if geopolitical tensions get out of hand.

“The one that is potentially a threat to supply and probably the biggest threat this year is Ukraine-Russia,” she said.

Oil marketing companies (OMCs) also indicated that with two to three months of contracts already in place, they may have headroom to deal with higher crude oil prices for now. However, if crude continues at $90 beyond May–June, it may pose some concerns. Brent crude prices have been hovering around this level since September last year, after the OPEC+ extended production cuts.

For more, watch the accompanying video

With inputs from agencies

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Israel-Iran tensions: Air India suspends flights to Tel Aviv until April 30

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Air India on April 14 had temporarily suspend flights to Tel Aviv amid escalating tensions between Israel and Iran. The carier operates four weekly flights between the national capital and Israeli city.

Tata Sons-owned Air India has decided to extend the suspension of flights to the financial capital of Israel, Tel Aviv until April 30. In a post on social media platform X, Air India said, “Our flights to and from Tel Aviv will remain suspended until 30th April 2024, in view of the emerging situation in the Middle East.”

Air India further said, “Continuously monitoring the situation and extending support to passengers who have confirmed bookings for travel to and from Tel Aviv. Offering one-time waiver on rescheduling and cancellation charges to affected passengers.”

Earlier, the flight suspension by Air India to Tel Aviv was until April 20. However, after alleged fresh air strikes by Israel on Iran today, Air India decided to extend the suspension of flights. Air India has thrice weekly flights to and from Tel Aviv.

Air India on April 14 had temporarily suspend flights to Tel Aviv amid escalating tensions between Israel and Iran. An official said the direct flights between Delhi and Tel Aviv will be suspended for now.

Air India operates four weekly flights between the national capital and Israeli city. The Tata group-owned carrier recommenced services to Tel Aviv on March 3 after a gap of nearly five months.

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Oil prices surge amid reports of Israel attack on Iran: expert weighs in on outlook

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

In a discussion with CNBC-TV18, Fook Hien Yap, a Senior Investment Strategist at Standard Chartered Bank, and Peter McGuire, CEO of XM Australia, explored the implications of the situation on oil prices and speculated on the potential impacts on gold and the dollar index during times of uncertainty.

Oil prices rose by $3 per barrel on Friday following unconfirmed reports of explosions in Iran, raising fears of potential disruptions to oil supply from the Middle East. The increase pushed oil prices beyond $90 per barrel, prompting immediate concerns as the region contributes significantly to global oil production. Analysts are closely monitoring the situation to gauge the extent of potential oil supply disruptions in the event of a wider regional conflict.

In a discussion with CNBC-TV18, Fook Hien Yap, a Senior Investment Strategist at Standard Chartered Bank, and Peter McGuire, CEO of XM Australia, explored the implications of the situation on oil prices and speculated on the potential impacts on gold and the dollar index during times of uncertainty.

McGuire explained that when a market, like oil, suddenly rises by 3.5-4% within a few hours, it shows how easily the market can be affected and how quickly prices can go up because of things like political tensions. If there are reports of explosions happening in several countries, it creates a lot of uncertainty about what might happen next, which can push prices even higher.

Talking about gold, he mentioned that it’s currently at its highest price ever, likely around $2430 to $2435 per ounce, which is very impressive. Silver prices have also risen, along with other metals like copper and zinc. Meanwhile, the dollar index is around 106.30.

Also Read | Gold prices steady amid geopolitical tensions: Check city-wise rates today

“There is probably more upside for the dollar index in the short run – that will be a flight to safety in some ways. The currencies will come a bit further crushed to the downside – euro, yen, pound and Australian Dollar and associated currencies. But yes, stronger US dollar, stronger gold, and by the looks of it – stronger oil in the short run,” added McGuire.

Also Read | Oil back above $90 a barrel after Israel attacks Iran

When asked about India, Yap said, “India is watching the oil price because it’s a net importer of oil, but we do see the elections proceeding as expected, there is going to be continuity in a government, growth remains very strong we think that is attractive. So, we do have a buy view now for India large caps. We think it is an attractive opportunity.”

In a separate discussion with CNBC-TV18, Jonathan Schiessl, Deputy CIO of Westminster Asset Management said, “We are in a phase and if oil prices do move higher, inflation is an issue that is certainly coming back to haunt some of the major markets. Therefore, from our perspective, we think oil stocks or oil is probably the best inflation and geopolitical hedge you have at the moment. So, we are quite invested in that part of the market. We do have and have had for some time good positions in gold as well and that has been an interesting area to be more recently.”

Investors have been watching closely to see how Israel responds to the Iranian drone attacks on April 13. The extra risk that comes with these geopolitical events has been decreasing in oil prices this week. This is because people thought that if Israel did retaliate against Iran, it would be controlled by pressure from other countries.

(with input from Reuters)

For the entire discussion, watch the accompanying video

Catch all the latest updates from the stock market here

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Israel-Iran war Highlights: Attack over Iran, a carefully thought decision following internal splits, US pressure

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Israel-Iran war highlights: Vienna-based International Atomic Energy Agency, a United Nations agency that promotes the peaceful use of nuclear energy and aims to prevent the proliferation of nuclear weapons, called for ‘extreme restraint for everybody’ adding that “nuclear facilities should never be a target in military conflicts”

Israel-Iran war LIVE: Israeli missiles targeted a site in Iran, as confirmed by a US official, according to a report from ABC News on Thursday. This comes shortly after Iran responded to an attack on its embassy in Syria with a drone strike against Israel.

Fars news agency in Iran reported an explosion at an airport in Isfahan, though the cause remains unclear. Isfahan province hosts several crucial nuclear sites, including Natanz, which is vital to Iran’s uranium enrichment program.

However, an Iranian official told Reuters that the explosion were a result of activation of Iran’s air defence systems, and that no missile attack was carried out against Iran.

CNN noted that several flights were rerouted over Iranian airspace amidst escalating tensions. Over the past weekend, Iran launched a barrage of drones and missiles in retaliation for a suspected Israeli strike on its embassy in Syria. The majority of these projectiles were intercepted before reaching Israeli territory.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

US and Britain announce new Iran sanctions after missile and drone strike on Israel

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

US President Joe Biden said G7 leaders were committed to acting together to increase economic pressure on Tehran. Britain announced that it was also introducing sanctions on Iran in co-ordination with Washington.

The United States on Thursday announced new sanctions on Iran targeting its unmanned aerial vehicle production after its attack on Israel, and US.

US President Joe Biden said G7 leaders were committed to acting together to increase economic pressure on Tehran. Britain announced that it was also introducing sanctions on Iran in co-ordination with Washington.

Biden said the United States and its allies had helped Israel beat back the April 13 missile and drone strike and were now holding Iran accountable with the new sanctions and export controls.

“The sanctions target leaders and entities connected to the Islamic Revolutionary Guard Corps, Iran’s Defense Ministry, and the Iranian government’s missile and drone program that enabled this brazen assault,” Biden said in a statement.
British Foreign Secretary David Cameron called Iran’s behavior “unacceptable.”

“(It) is a message to Israel that we want to play our part in having a coordinated strategy that deals with Iran’s aggression,” Cameron said on the sidelines of a meeting of foreign ministers from the Group of Seven (G7) major Western powers in Italy.

Israel has said it will retaliate against Iran’s unprecedented launch of missiles and drones, while a senior Iranian Revolutionary Guards commander said on Thursday Iran could review its “nuclear doctrine” following Israeli threats.

Sanction targets 

Treasury said it was also designating five companies in multiple jurisdictions providing component materials for steel production to Iran’s Khuzestan Steel Company (KSC), one of Iran’s largest steel producers, or purchasing KSC’s finished steel products.

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Israel drones target air base near Iran’s largest nuclear facility

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Iranian officials confirmed an attempted attack on a military base in Ifsahan,the city that is home to Iran’s largest nuclear research centre, and believed to be the base for the country’s nuclear weapons programme.

Drones sent by Israel struck an air base near Ifsahan, which has the country’s largest nuclear research centre, according to officials from Iran who spoke to the New York Times.

Officials in Tehran said that there were no damages from the strike and that nuclear facility was ‘completely secure’. The International Atomic Energy Agency (IAEA), which confirmed Iran’s claim, urged that “nuclear facilities should never be a target in military conflicts,” according to a report from AFP, an international news agency.

However, the risk of a further escalation pushed investors to safe haven bets like the US treasuries, Swiss Franc and the US dollar.

Reports of explosions near the Isfahan airport emerged just minutes after unnamed US officials told the Australian broadcaster ABC that Israel had fired missiles on one Iran site.

However, the Iranian officials didn’t explicitly name the country behind the attack in Ifsahan.
Israeli Air Force F-15 Eagle is pictured at an air base, said to be following an interception mission of an Iranian drone and missile attack on Israel, in this handout image released April 14, 2024. Israel Defense Forces./Reuters
Israeli Air Force F-15 Eagle is pictured at an air base, said to be following an interception mission of an Iranian drone and missile attack on Israel, in this handout image released April 14, 2024. Israel Defense Forces./Reuters
The nuclear facility in Ifsahan, built with assistance from China, is believed to be the centre of Iran’s nuclear weapons programme, according to the Nuclear Threat Initiative, which describes itself as a nonprofit, nonpartisan global security organisation.

The risk of a nuclear war

Iran had earlier warned that it may change its stance on nuclear war if there was Israel attacked its sites. “The nuclear facilities of the Zionist enemy have been identified and all the necessary information from all targets is at our disposal,” said the IRGC’s Brigadier General Ahmad Haghtalab, according to an Al Jazeera report earlier.

“Hands are on the trigger to fire powerful missiles for the total destruction of determined targets,” he added. While Israel has never admitted to owning nuclear weapons, it is widely believed that it has them.

Earlier, some Iranian officials denied any missile attack, in a conversation with Reuters. Hossein Dalirian, the spokesperson for Iran’s space agency, described it “as a failed attack with a few quadcopters” in a tweet.

Sirens were sounded off earlier in the day in Northern Israel, which shares a border with Lebanon, according to a Reuters report. The Sirens indicate that the Israeli army expects a hostile aircraft or missile to enter its territory.

The yield on US treasuries shrank by 14 basis points after the Israeli attack on Iran, according to Bloomberg data.

Meanwhile, gold prices crossed $2,400 an ounce. Brent Crude oil jumped back above $90 a barrel soon after the reports of explosions in Iran.

The Saturday attack from Iran was in response to the death of senior military officials from the country in an attack that targetted a diplomatic compound in Damascus, the capital of Syria.

Israel did not claim responsibility for the attack in Syria but the establishment in Tehran believes it as an act by its rival in Tel Aviv or on behalf of it. Israeli Prime Minister Benjamin Netanyahu had said that Israel has the right to protect itself and that a retaliatory attack from Israeli forces was imminent.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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US Congress moving swiftly on bipartisan action to punish Iran after revenge attack on Israel

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Several measures introduced and passed in the House and Senate seek to both publicly condemn Iran and punish the Islamic Republic financially. Lawmakers have denounced Iran’s actions, which came in response to a suspected Israeli strike weeks earlier on an Iranian consular building in Syria that killed two Iranian generals.

Iran’s attack against Israel over the weekend has spurred a flurry of bipartisan legislative action in Congress, uniting lawmakers against the country even as the risk of a larger regional war looms.

Several measures introduced and passed in the House and Senate seek to both publicly condemn Iran and punish the Islamic Republic financially. Lawmakers have denounced Iran’s actions, which came in response to a suspected Israeli strike weeks earlier on an Iranian consular building in Syria that killed two Iranian generals.

“The world is on fire, and history will judge us for our action,” said Rep. Mike McCaul, R-Texas, chairman of the House Foreign Relations Committee, during a news conference Tuesday.

The swift, bipartisan condemnation of Iran has put on sharp display the durability of American support for Israel, even amid growing partisan division over how the country is handling its more than six-month war with Hamas.

The House passed nearly a dozen bills by Wednesday that would, among other things, issue a slate of new sanctions and other financial restrictions against Iran and its leaders. Other legislation looks to prevent current Iranian officials sanctioned from evading those penalties and urge the European Union to “expeditiously” designate Iran’s Revolutionary Guard as a terrorist organization as the U.S. has already done.

On the other side of the Capitol, the Senate Foreign Relations Committee on Tuesday advanced five bills, including ones that targeted Iran for its human rights record and would require sanctions on ports and refineries that receive and process Iranian oil.

“Iran’s direct attack on Israel this week underscores the need to further cut off the Iranian regime’s key revenue streams,” Democratic Sen. Jeanne Shaheen of New Hampshire said in a statement. “I urge my colleagues in the Senate to support this bill — which has already passed the House — so that we can send it to President Biden’s desk immediately.”

A number of the bills had passed the House weeks before Hamas’ deadly attack on Israel in October but have been stalled in the Senate committee. An Israeli offensive in Gaza has since caused widespread devastation and killed over 33,000 people, according to local health officials. Israel’s conduct of the war has revealed the depth of unease among U.S. lawmakers as concerns over the delivery of humanitarian aid to Gaza have caused even some of President Joe Biden’s closest allies to threaten conditioning future aid to Israel.

Congressional Democrats have been reluctant to challenge Biden’s handling of the ongoing conflict and related regional tensions that have taken shape, mindful that criticism could further weaken Biden in his reelection campaign against former President Donald Trump.

But the attack on Saturday has proven to consolidate public support for the Biden administration’s quick response as it ordered U.S. forces to help Israel down “nearly all” the 300 drones and missiles that were headed its way.

It also comes as House Speaker Mike Johnson, R-La., released legislation Wednesday that would provide $95 billion in aid collectively to Israel, Ukraine and Taiwan. The aid package had been held up for months over Republican opposition to continuing wartime funding for Ukraine as it battles Russia. Iran’s attack on Israel added urgency to Johnson’s plans to bring the issue to the floor for a vote.

While the measures targeting Iran have received overwhelming support — with the series of House bills mostly passing with at least 300 votes — there has been a quiet but growing dissent among progressive Democratic lawmakers in both chambers, who warn that legislative efforts could risk further escalation in the Middle East.

“Following last weekend’s unprecedented response by Iran to Israel’s attack on its consulate, the Republican Majority is explicitly leveraging a series of bills to further escalate tensions in the Middle East,” Rep. Alexandria Ocasio-Cortez, D-N.Y., said in a statement Tuesday. “This is a blatant attempt to distract from their own incompetence.”

The strike on Saturday marked the first time Iran has launched a direct military assault on Israel despite decades of enmity dating back to the country’s 1979 Islamic Revolution. Israel has vowed to retaliate against Iran, risking further expanding the shadow war between the two foes into a direct conflict.

Sen. Bernie Sanders, a Vermont independent, condemned Iran’s attack in a statement but called on his colleagues to respond cautiously. He warned that further U.S. action against Iran could lead to a dangerous escalation that could drag America into a war in the Middle East.

“Cooler heads must now prevail to ensure peace in the region and security for Israel,” Sanders said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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EU leaders back new Iran sanctions after attack on Israel

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The summit in Brussels is the first meeting of the EU’s 27 national leaders since Saturday’s attack, more than six months into the war between Israel and the Iran-backed Palestinian militant group Hamas.

European Union leaders decided on Wednesday to step up sanctions against Iran after Tehran’s missile and drone attack on Israel left world powers scrambling to prevent a wider conflict in the Middle East.

The summit in Brussels is the first meeting of the EU’s 27 national leaders since Saturday’s attack, more than six months into the war between Israel and the Iran-backed Palestinian militant group Hamas.

Israel has signalled it will retaliate but has not said how. EU leaders condemned the Iranian attack, reaffirmed their commitment to Israel’s security and called on all sides to prevent more tensions, including in Lebanon.

“We feel it’s very important to do everything to isolate Iran,” said summit chairman Charles Michel, adding the new sanctions against the Islamic Republic would target companies involved in the production of drones and missiles.

German Chancellor Olaf Scholz said it was important that Israel “does not respond with a massive attack of its own.”

Italy spoke separately ahead of G7 talks in favour of sanctions against arms suppliers linked to the attack against Israel, as well as those behind attacks on ships in the Red Sea.

Iran launched its assault in response to an April 1 strike on its embassy in Damascus which it blamed on Israel. Tel Aviv started its broader military offensive in Gaza after Hamas’ deadly attack on Israel on Oct. 7.

Israel and Ukraine 

EU foreign ministers are due to continue the sanctions work on Monday as the United States and its Western allies hope new steps against Iran will help limit any Israeli retaliation.

The EU already has multiple programmes that target Iran for human rights abuses, the proliferation of weapons of mass destruction, and Tehran’s support for Russia’s war in Ukraine.

Germany, France and several EU states are looking at expanding a scheme that seeks to curb the supply of Iranian drones to Russia to include the provision of missiles and cover deliveries to Iranian proxies in the Middle East.

Belgium backed introducing sanctions against Iran’s Revolutionary Guard Corps but Scholz said that required further legal checks. The bloc’s top diplomat has said that could only happen if a national authority in the EU found that the group had been involved in terrorist activity.

Analysts say Iran is unlikely to face more severe economic punishment because of worries about boosting oil prices and angering top buyer China.

With the Middle East capturing much of the EU’s attention, Ukraine’s President Volodymyr Zelenskiy appealed for more help in holding the line against Russia, which unleashed an invasion against its neighbour more than two years ago.

“Here in Ukraine, in our part of Europe, unfortunately, we do not have the level of defence that we all saw in the Middle East a few days ago,” Zelenskiy told the summit, after Israel and allies mostly shot down the incoming drones and missiles.

“It reflects our current key need – the need for air defence,” he said, according to an EU official, repeating his calls for speedier deliveries of the weapons and ammunition previously promised to Ukraine.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?