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In a move that has sent shockwaves across the globe, the United States has decided to impose a 500% tariff on countries buying oil from Russia. The new tariff bill, which has been tabled by Senator Lindsey Graham, has been backed by US President Donald Trump. If approved next week, the bill will allow Trump to impose a 500% tariff on every country that buys oil from Russia. India, which is already under severe pressure due to a 50% American tariff, is likely to be hit hard by the new development. The news has led to a crash in the Indian stock market, with investors losing nearly $9 trillion in the past four days.
The revelation of the new tariff has also sent shockwaves to Brazil and China, which are also major oil importers. This is the first time that the financial details of Trump’s 2021 divorce have been made public. Iranian Ambassador to the US, Hassan Kazemi Qomi, has said that the US is entering an extremely provocative and irrational phase, and that Iran will thwart any conspiracy with its culture and leadership.
In Pakistan, the opposition movement is gaining momentum, with PTI leader Shahbaz Gill becoming a major force ahead of the expected February 12 elections. Pope Francis has said that countries are now adopting policies based on power and not diplomacy. The stormy weather in Europe has caused widespread disruption, with nearly 57,000 homes losing power and hundreds of schools closed in the UK, according to reports. Italian Prime Minister Giorgia Meloni has said that she is not sure if the US will launch a military operation to control Greenland.
The Iranian Foreign Ministry has said that the US statements are not a show of solidarity with the people, but rather an attempt to fuel chaos and violence. China’s special envoy to the Middle East, Zhai Jun, has visited Israel and Ramallah. Russia has confirmed the release of its citizens. US President Donald Trump has announced that he is suspending the expected second military operation against Venezuela. The interim government of Bangladesh has suspended visa services at its missions in India, including the high commission in New Delhi, due to security concerns.
The US President has said that major oil companies will invest at least $100 billion in Venezuela. In a speech to the Iranian people, Trump emphasized the need for unity. A meeting between the two leaders may take place in Washington, according to reports. Turkey is expected to join the Pakistan-Saudi defense alliance soon, with a agreement between the three countries likely to be reached soon. The Iranian Foreign Ministry has said that the US statements are not a show of solidarity with the people, but rather an attempt to fuel chaos and violence.
In other news, Pakistan has seen a significant increase in the number of citizens working abroad, with nearly 500,000 people expected to leave the country in 2025, according to data released by the Bureau of Immigration. Traffic police have warned of disruptions in various areas of the city, with traffic flow affected in areas such as Abdullah Haroon Road and Chaudhry Khaliq Zaman Road. Bollywood actor Abhishek Bachchan has partnered with his old friend and film producer Anand Pandit to launch a major residential and commercial project in Gujarat’s GIFT City.
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