By Darryl Coote
Sept. 14 (UPI) -- The United States has blacklisted VTB Bank, Russia's second-largest lender and the only Russian bank with a branch in China, alleging its involvement in Iranian sanctions evasion, as the Trump administration seeks to further isolate Tehran amid their monthslong war.
The Treasury designated VTB on Monday under Iran sanctions authorities, adding to the sanctions risks foreign financial institutions face for continued business dealings with the lender.
According to Treasury officials, VTB is accused of opening bank offices in Iran to foster closer cooperation with the Iranian regime and expand trade between their countries. Over the last three years, the Russian bank has created relationships with sanctioned Iranian financial institutions and is alleged by the Trump administration to have taken steps to move billions of dollars in frozen Iranian assets, among other actions.
"The United States remains steadfast in cutting off the financial lifelines that allow the Iranian regime to fund terrorism, destabilize the region and threaten U.S. economic security," State Department spokesman Thomas Pigott said in a statement.
"Today's action sends a clear message to governments and financial institutions considering similar arrangements: any effort to help Iran evade sanctions will carry serious consequences, including exposure to U.S. financial restrictions."
VTB is already heavily sanctioned and has been under full U.S. blocking sanctions since February 2022, when the Treasury targeted the bank following Russia's invasion of Ukraine. Monday's designation adds Iran-related sanctions authorities, increasing the potential for sanctions exposure of foreign banks that continue to do business with VTB.
Miad Maleki, a senior fellow at the Washington-based Foundation for Defense of Democracies and a former Treasury sanctions official, emphasized that the sanctions could be particularly consequential for China, where Chinese financial institutions linked to VTB could face additional secondary-sanctions risk.
"Beijing has shielded its big banks from the Russia fight. Shielding them from the Iran fight is a different calculation, days before Xi meets Trump," Maleki said online.
President Donald Trump and Chinese leader Xi Jinping are set to meet on Sept. 24 at the White House.
The sanctions were imposed amid a stalemate in the U.S.-Iran war with no end in sight.
Trump has sanctioned Iran for years now, going back to his first administration, and has repeatedly tightened his financial vises on Tehran amid the war, which began Feb. 28 with joint strikes on Iran by the United States and Israel.
https://www.upi.com/Top_News/US/2026/09/15/VTB-Bank-Iran-sanctions/8661789443734/
Treasury yields are hovering above a critical threshold. Here’s what it means for stocks
PUBLISHED TUE, SEP 15 2026 6:05 AM EDT Chloe Taylor
KEY POINTS
Treasury yields continued to rise sharply across the curve on Tuesday, sending the yield on the benchmark 10-year note above the closely watched 5% level.
The 10-year Treasury yield added 7 basis points to 5.029% by 5 a.m. ET, while yields elsewhere on the curve rose roughly 4 to 6 basis points. Yields on the 20-year and 30-year Treasurys were last seen at 5.434% and 5.391%, respectively.
https://www.cnbc.com/2026/09/15/treasury-yields-stocks-investors.html
The meeting was scheduled for Monday in Oman. It was to discuss an agreement between Iran and Oman on managing shipping through the Strait of Hormuz.
Updated on: Sep 14, 2026, 13:14:13 IST
Edited by Anita Goswami
A meeting involving Iran and other Gulf littoral states was postponed on Sunday following attacks on an Iranian cargo ship near Qeshm Island.
Iran will coordinate with Oman to set a new date for the meeting, an official said. (AP)
The meeting was scheduled in Muscat to discuss regional issues, including safe shipping routes through the Strait of Hormuz under an Iran-Oman arrangement.
Omani foreign minister Badr Albusaidi said the meeting was postponed “in the interests of consensus”. “We remain committed to fostering dialogue that supports stability and lasting cooperation in our region,” he wrote on X.
An Iranian foreign ministry official said the decision was taken jointly by Tehran and Muscat. Tehran later said Saudi Arabia requested the postponement and said Yemen was a “false pretext” for the move, AFP reported.
Iran will coordinate with Oman to set a new date, the official said, as per AFP.
Iran and Oman recently agreed on new shipping routes through the Strait of Hormuz, semi-official Tasnim news agency reported. The entry route would run entirely through Iranian waters, while part of the exit route would also be in Iranian waters.
The details were to be presented to other Gulf countries at the now-postponed meeting in Oman. The new arrangement would not mean the strait is reopening, as Iran said it had seven conditions for reopening the waterway.
An Iranian commercial vessel was hit early Sunday near Hormuz, Iranian state media said. One person was killed and four crew were wounded.
Iranian state-run IRNA quoted the Qeshm governor as blaming a “terrorist enemy” for the attack.
The UK Maritime Trade Operations agency, or UKMTO, said a vessel was struck by a projectile while sailing through the Strait of Hormuz. A fire broke out and the crew was evacuated, it said. It was not immediately clear whether the incident was the same attack reported by Iran.
Iran insists on conditions for reopening Hormuz
Iran has said shipping through the Strait of Hormuz would be managed under an agreement with Oman.
Iranian officials said ships entering the Persian Gulf would pass through Iranian waters. Outbound traffic would use both Iranian and Omani waters. Tehran has also expressed interest in charging ships fees for transit.
But Iranian foreign minister Abbas Araghchi said Iran would not reopen the strait until the US met its demands, despite any agreement with Oman.
Commercial traffic through the strait remains low. The waterway is one of the world's most important oil transit routes.
Before the talks were postponed, Iraq was the only country to publicly confirm that it planned to attend, as per Iraqi media. Bahrain said it would not participate because it did not have diplomatic relations with Tehran.
European NATO air forces could destroy half of Russia's oil refineries without US assistance in the event of Moscow's aggression, according to Polish Foreign Minister Radosław Sikorski on Twitter (X).
According to him, European countries would be capable of inflicting serious damage on Russia's oil refining industry even without direct US involvement.
Sikorski assesses NATO's capabilities
The Polish minister made the remarks after a visit to Ukraine. Sikorski said that air superiority would allow NATO's European members to act against Russian targets without involving US forces.
"In the event of Russian aggression against NATO, thanks to air superiority, the air forces of NATO's European members could, even without US participation, destroy half of Russia's oil refineries faster than Ukraine has," the Polish foreign minister said.
Thus, Poland's top diplomat believes that in the event of a direct conflict, the capabilities of the Alliance's European members would allow them to strike Russia's oil refining infrastructure much more quickly.
The International Energy Agency (IEA) has downgraded its forecast for Russian oil refining over the next 18 months, expecting output to average around 4 million barrels per day. This is roughly 30% below the pre-war level.
The IEA noted that Russia's oil refining industry is facing increasing difficulties due to regular Ukrainian drone strikes, while repairs to damaged facilities are being carried out only partially. As a result, the combined impact of attacks and ongoing repair work is gradually weakening Russia's entire oil refining system.
Russian Foreign Ministry spokeswoman Maria Zakharova criticized Sikorski's statement about NATO's air superiority over Russia. She called the Polish minister's remarks "Russophobia of the brain" and claimed that he had spoken about the possibility of a rapid Polish victory over Russia.
However, Sikorski was referring to a potential conflict between Russia and NATO, not a confrontation between Moscow and Warsaw.
https://newsukraine.rbc.ua/news/nato-could-destroy-half-of-russia-s-oil-refineries-1789392829.html
South Korea's crude oil imports are showing a clear recovery trend even as prolonged Middle East conflict continues to disrupt global crude shipping routes. Government support for crude procurement and strategic reserve utilization programs have filled import gaps, keeping domestic supply of major petroleum products such as gasoline and diesel stable.
The Korea Petroleum Association said on the 14th that domestic petroleum product supply and demand remain stable six months after the implementation of the Oil Price Cap System, crediting coordinated efforts between the government and refiners. Despite external headwinds including the blockade of the Strait of Hormuz and the prolonged Middle East war, supply disruptions of essential petroleum products have been preemptively blocked.
According to data cited by the association from Korea National Oil Corporation's petroleum supply and demand statistics, July crude imports reached 93.18 million barrels, up 9.8% from the same month last year. This marks a rapid recovery compared with April, when imports plunged to approximately 64.5 million barrels in the early stages of the war. The association noted that April's import volume was the lowest since 2010.
The sharp decline in imports stemmed from instability in Middle East maritime shipping. With crude import sources heavily concentrated in the Middle East, the war significantly increased the likelihood of delays or disruptions in shipments transiting the Suez Canal and the Strait of Hormuz.
In response, South Korea's Ministry of Trade, Industry and Energy held supply-demand review meetings with refining and shipping companies in July, pushing to secure alternative non-Middle Eastern cargoes and negotiate detour shipping routes. Countermeasures also included utilizing the Suez Canal and the SUMED pipeline. The strategy involved simultaneously diversifying import sources and addressing shipping delays.
The temporary gap between overseas crude purchases and their arrival in South Korea was bridged through the strategic reserve swap program. Under this arrangement, refiners submit crude loading documents and Korea National Oil Corporation lends them strategic reserve crude first, which is then repaid with actual crude once tankers arrive at port. The mechanism addresses short-term supply shortages that can occur when purchased volumes are secured but voyage times are extended.
The government ended the program in late June as supply conditions improved, but reactivated it in August when Middle East shipping instability intensified again. The measure is designed to prepare for potential delays in actual arrival times, separate from securing contracted crude volumes.
https://finance.biggo.com/news/d573c5c6-6ebe-4942-9c7f-c4532d1084f1
(RTTNews) - Canadian market's benchmark S&P/TSX Composite Index was modestly higher a little before noon on Monday with investors digesting the nation's inflation data and assessing the potential economic impact of elevated oil prices.
Energy stocks are up, riding on higher crude oil prices, while materials stocks are reeling under pressure due to weak precious metals prices.
Warnings of a potentially large-scale AI-driven cyberattacks hurt the tech sector at the start, but several stocks from the space have recovered some lost ground thanks to support at lower levels.
The S&P/TSX Composite Index, which dropped to a low of 35,520.87 earlier, was up 78.50 points or 0.23% at 35,775.99 a little while ago.
The Materials Capped Index is down 2.91%. Discovery Mining, Ero Copper, Eldorado Gold Corporation, G Mining Ventures, Ngex Minerals, First Quantum Minerals, Aris Mining, Hudbay Minerals, Silvercorp Metals, Lundin Mining and Novagold Resources are down 4%-7%.
The Energy Capped Index is up 1.75% with several stocks from the sector surging higher as oil prices rose sharply on supply concerns following Saudi Arabia shutting down a crucial pipeline following drone attacks.
Tourmaline Oil Corp., Imperial Oil, Athabasca Oil Corp., Vermilion Energy, Suncor Energy, International Petroleum Corporation, Canadian Natural Resources, Tamarack Valley Energy and Cenovus Energy are gaining 1.5%-3%.
Among tech stocks, Constellation Software, Desacartes Systems Group, Docebo, CGI Inc. Coveo Solutions and Tecsys are up 3%-5.3%. Shopify, Enghouse Systems, BlackBerry, Lightspeed Commerce and Kinaxis are also up with strong gains, while Celestica is down nearly 8%.
Bank stocks are mostly subdued. Shares from consumer and real estate sectors are turning in a mixed performance.
Data from Statistics Canada showed the headline inflation rate in Canada was unchanged from the previous month at 3% in August, in line with market expectations. From the previous month, the Canadian CPI inched down by 0.1%.
Core consumer prices in Canada increased 2.4% in August over the same month in the previous year.
A separate data from Statistics Canada showed manufacturing sales in Canada dropped 0.4% month over month to C$78.7 billion in July, following a 0.1% rise in June and missing estimates for a 0.2% decline.
https://www.finanzen.at/nachrichten/aktien/canadian-market-edges-higher-on-energy-boost-1036543576
Black smoke billows from the area of Gazprom Neft’s Moscow oil refinery, located on the southeastern outskirts of Moscow, June 18, 2026. (AA Photo)
U.S. President Donald Trump said Monday that Ukraine and Russia have agreed not to strike each other’s energy targets, while blaming the recent rise in global diesel prices mainly on the Russia-Ukraine war rather than the conflict with Iran.
“Ukraine has agreed not to hit Russian Energy targets. Russia has agreed to do, likewise!” Trump wrote on Truth Social.
“The World’s Diesel price rise is mostly caused by the Russia/Ukraine War, not Iran,” he added.
Ukrainian rescue personnel extinguish a fire in an auto parts warehouse following an air attack in Kyiv on September 2, 2026, amid the Russian invasion of Ukraine. (AFP Photo)
Trump had urged Zelenskyy to halt refinery strikes
Trump’s announcement followed remarks Sunday in which he called on Ukrainian President Volodymyr Zelenskyy to stop attacking Russian diesel refineries, arguing that the strikes were contributing to global fuel shortages.
“Mr. Zelenskyy has to do one thing. He has to stop knocking out diesel fuel in Russia,” Trump told reporters during a visit to Ireland.
“Let him go after targets, but not diesel, because he’s causing a shortage of diesel,” Trump said.
Trump said Washington had raised the issue directly with Zelenskyy and argued that Ukraine had “plenty of other targets” available without striking refineries.
Trump blames Ukraine war for diesel disruption
Trump said disruptions in global diesel markets were being driven primarily by the Russia-Ukraine war rather than tensions in the Middle East.
“This isn’t done by the Middle East; this is done by what’s happening with Russia and Ukraine,” he said.
Trump argued that attacks on Russian refineries were “hurting the world.”
On 14 September, Russia’s Gazprom announced the temporary suspension of gas supplies to Armenia via the ‘North Caucasus–Transcaucasia’ gas pipeline. Gas flow will be impossible from 15 to 25 September due to repairs to the pipeline on Russian territory.
RBC reported this, citing the press office of Gazprom Armenia. The publication notes that around the same time last year, supplies were also suspended for the same reason.
The company explained that during this period, gas supplies to consumers in Armenia will be maintained without restrictions — thanks to domestic reserves and additional volumes of natural gas from Iran.
As RBC emphasises, Armenia meets almost all its needs with Russian gas: in 2025, Gazprom supplied around 2.7 billion cubic metres to the country. A further 476 million cubic metres are supplied annually from Iran under the ‘Gas for Electricity’ programme: Armenia supplies electricity to Iran, mainly from the Hrazdan Thermal Power Station, and receives gas at a rate of 3 kWh per 1 cubic metre.
Russia supplies gas at a price of $177.5 per 1,000 cubic metres. This price is fixed by an agreement valid until early 2027. The gas is transported via the 612 km ‘North Caucasus–Transcaucasia’ pipeline, which was commissioned back in 1988. The pipeline runs from Russia through Georgian territory.
Disputes over the supply agreement
In light of Armenia’s announced policy of actively seeking closer ties with the EU, Russia has repeatedly warned Yerevan that it will be forced to terminate the bilateral agreement on cooperation in the supply of natural gas and petroleum products.
The Russian side believes that Armenia cannot simultaneously be a member of the EAEU (Eurasian Economic Union) and pursue a policy of rapprochement with the EU. It is in this context that the bilateral agreement on gas and petroleum products may be reviewed.
The Armenian side is convinced that, until it becomes a member of the EU, there are no grounds for discussing a review of existing agreements within the framework of the EAEU.
As RBC clarifies, this refers to the agreement on cooperation in the supply of natural gas, petroleum products and unprocessed natural diamonds to Armenia, dated 2 December 2013. It provides for duty-free supplies of gas and petroleum products from Russia to Armenia at a fixed price in volumes corresponding to domestic consumption, without the right to re-export to third countries.
https://logos-pres.md/en/news/russia-is-temporarily-suspending-gas-supplies-to-armenia/
By Kurt Cobb - Sep 14, 2026, 9:00 AM CDT
The East-West Pipeline in Saudi Arabia, which delivers oil to the shores of the Red Sea, has been an important workaround to the choking of tanker traffic by Iran in the Strait of Hormuz, the only exit for tankers from the Persian Gulf to the open sea. The Saudi government claims that 7 million barrels per day (mbpd) of crude oil can flow westward through the pipeline to the port of Yanbu, though the current exports are thought to be lower (perhaps 5 mbpd) than that given infrastructure restraints.
But now that pipeline has been bombed and put out of service. The Saudis are saying that the pipeline has been closed "as a precautionary measure." But that statement seems to underplay what has happened. Satellite images show that the attacks damaged at least two pumping stations. Repairing or replacing these stations may be more involved than simply replacing a section of damaged pipeline since the pipeline sits mostly above ground. And, of course, once repaired, the pipeline could simply be attacked again. The 1200-kilometer length of the pipeline is not easily defended.
The oil-starved importers of the world have been gushing about how much oil has been getting out of the Persian Gulf right under the noses of a threatening Iranian Revolutionary Guard Corps (IRGC) who are standing watch with missiles and drones on the shores of the Strait of Hormuz. But even these surreptitious transits have carried volumes far below those transported before the war began, only 7 mbpd versus 20 mbpd. The East-West Pipeline became a crucial source of oil to the world after the Iranians closed the Strait of Hormuz.
Now a missile and drone attack has put to rest the idea that pipelines are, in fact, a genuine solution to the current and any future closure of the Strait of Hormuz. Given how obvious it is that pipelines are easy to attack with drones and missiles, it has been puzzling to read all the talk about building new pipelines in and around the Persian Gulf region to lessen dependence on the Strait of Hormuz. Only a simpleton would believe that these pipelines would somehow escape attack during a conflict in the region.
The pipeline "solution" demonstrates perfectly 1) how one-dimensional much of the media coverage of the U.S.-Israeli war with Iran has been and 2) how one-dimensional the strategic thinking on the part of the United States has been.
All any observer needs to do is look up in the sky and discover that there are second and third dimensions, making it possible for aerial weapons to come from far away to destroy any pipeline. It is difficult not to ridicule those who failed to make this simple observation before committing their typing fingers or their mouths to such a nonsense solution to the Strait of Hormuz closure as pipelines.
BEIJING: Chicago soybeans rose on Monday, supported by strong Chinese demand and higher crude oil prices.
The most-active soybean contract on the Chicago Board of Trade (CBOT) edged 0.31% higher to $13-1/2 a bushel by 0231 GMT.
Chinese state buyers have stepped up purchases of US soybeans ahead of Chinese President Xi Jinping’s visit to Washington later this month.
Markets are awaiting greater clarity from the summit on future demand from the world’s top soybean importer.
Soybeans drew additional support from stronger soyoil prices, given their role in biofuel production.
Soyoil gained 0.57% to 70.08 cents per pound, tracking higher crude oil prices.
Oil prices jumped more than 2% after fresh Houthi strikes on Saudi Arabia and Iranian attacks on ships in the Gulf compounded supply concerns following the closure of a key Saudi oil pipeline.
However, gains in soybeans were limited after the US Department of Agriculture raised its soybean production forecast on Friday.
Wheat rose 0.03% to $7.25-1/2 a bushel as traders assessed risks in the Black Sea region.
Renewed diplomatic efforts to end Russia’s war in Ukraine have weighed on prices, though fresh Russian attacks have kept markets focused on the ongoing disruption to vital Black Sea grain trade routes.
“World wheat trade continues to straddle the headlines of the conflict between Russia and Ukraine with the seemingly plentiful stock levels,” said Josh Lawrence, an analyst at IKON Commodities. “Attention on demand will now focus on increased tender activity including this week with Pakistan, as well as any change in buying activity from key importers across Southeast Asia,” he added.
A government agency in Pakistan issued an international tender to purchase and import 750,000 metric tons of wheat, European traders said. Corn dropped 0.09% to $5.29-3/4 a bushel, despite support from higher oil prices and expectations of a smaller US harvest.
US farmers will harvest less corn than previously forecast this autumn, the US Department of Agriculture said on Friday, after hot summer weather raised concerns about crop damage.
Commodity funds were net sellers of CBOT corn, soy and wheat, traders said on Friday.
JOHANNESBURG, Sept. 14, 2026 /PRNewswire/ -- Copper Intelligence is pleased to announce the appointment of Minxcon, a leading mining consultancy group, to provide technical advisory services and oversight for the Company's mineral project development activities.
Under the engagement, Minxcon will assist in guiding and coordinating the Company's technical programs while ensuring compliance with applicable stock exchange reporting requirements, including the S-K 1300 reporting framework. The firm will play a key role in supporting the Company's efforts to meet the highest standards of technical disclosure, transparency, and regulatory compliance, as it progresses to a potential uplist in the United States on a major exchange.
Minxcon has established a strong reputation within the mining industry, with decades of international consulting experience. The firm's team possesses significant operational and technical knowledge of the Democratic Republic of Congo (DRC), including many of the regions where Copper Intelligence intends to conduct its activities.
Richard Rice, Copper Intelligences' Head of Geology commented: "We are delighted to be working with Minxcon as we advance our projects. Their extensive experience in the DRC, combined with their deep understanding of international resource reporting standards and regulatory frameworks, will provide valuable guidance as we pursue our technical and corporate objectives."
Uwe Engelmann, Principal Geologist at Minxcon, said: "We are pleased to be partnering with Copper Intelligence Inc at this important stage of its development. Our team brings extensive experience in the Democratic Republic of Congo and in the preparation of technical disclosures that meet international reporting standards, including S-K 1300 requirements. We look forward to working closely with the Company's management and technical teams to support responsible project advancement, regulatory compliance, and the creation of long-term value for stakeholders."
About Minxcon
Minxcon is a multi-faceted South African advisory company offering an integrated team of internationally accredited experts to investigate and develop mineral projects offering geological, mining engineering, mineral resource estimation, due diligence, feasibility study, and technical reporting services to the mining industry. Minxcon provides services and advice from the project inception stage to the successful execution and management of the operation and closure, making Minxcon exceptionally diversified. New and existing mineral projects benefit from their comprehensive service offering through their one-stop firm.
About Copper Intelligence (CUAI)
Copper Intelligence is a U.S.-publicly traded copper exploration and development company focused on advancing high-potential copper assets in the Democratic Republic of Congo.
SOURCE Copper Intelligence Inc.
MUSCAT: Oman’s landmark Mazoon Copper Project has reached a key mining milestone with the start of pre-stripping operations, marking the physical transition of one of the Sultanate of Oman’s largest copper resources towards commercial production.
Mattar al Badi, Chief Executive Officer of Minerals Development Oman (MDO), said the first excavator had begun cutting into waste rock at the mine that will supply the project’s copper concentration plant.
Pre-stripping involves removing overburden and waste rock to expose the underlying orebody ahead of full-scale mining.
“This is the moment when a resource moves from a number in a report to a mine on the ground,” Al Badi said, describing the seemingly routine activity as one of the most decisive stages in mine development.
Located in the Wilayat of Yanqul in Al Dhahirah Governorate, Mazoon is being developed by MDO as Oman’s largest integrated copper concentrate production project. The development covers around 20 sq km and is centred on multiple open-pit mines feeding a central processing complex.
MDO’s 2025 Annual Report put total reserves at approximately 23.4 million tonnes, following the addition of around 4.9 million tonnes of new resources. The processing plant will have capacity to handle 2.5 million tonnes of ore annually and produce around 115,000 tonnes of copper concentrate with a copper grade of approximately 21.5 per cent.
Supporting infrastructure includes central crushing facilities, a tailings storage facility, power and water networks, and administrative and residential facilities.
Construction made significant headway during 2025. Major construction and service packages were awarded to local contractors, while concrete works for the primary crushers and grinding mills were completed. MDO has also contracted Finnish mining technology specialist Metso to supply key processing equipment and technologies.
The latest mining milestone comes after Mazoon secured substantial financing for its development. Earlier this year, ahlibank announced the financial close of a dual-currency, multi-tranche syndicated facility exceeding RO 154 million ($400 million), comprising conventional and Islamic financing tranches with participation from a group of Omani financial institutions.
Copper concentrate production is targeted to commence in 2027, positioning Mazoon as a cornerstone of Oman’s efforts to revive domestic copper production, expand its non-hydrocarbon industrial base and build a stronger presence in global critical-minerals supply chains.