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Market rebound or relief rally: Sensex gains nearly 3,000 points in three days; should investors stay cautious?


Market rebound or relief rally: Sensex gains nearly 3,000 points in three days; should investors stay cautious?

Indian equity benchmarks continued their upward move for a third straight session on Wednesday, with the BSE Sensex adding nearly 3,000 points over the past three trading days, prompting debate on Dalal Street over whether the recent recovery marks a sustainable bottom or just a short-term bounce, according to an ET report.The NSE Nifty ended the session at 23,777 after trading within a band of 23,618 to 23,862, signalling a largely range-bound trend despite positive undertones. The Sensex, meanwhile, advanced more than 700 points during intraday trade, indicating persistent buying interest following the recent correction.Market participants attributed the rebound primarily to short covering and sectoral rotation after the sharp fall in benchmark indices earlier. Technology stocks remained at the forefront of the recovery. Jio Financial Services surged 4.6 per cent, while Tech Mahindra and Eternal gained around 3–3.5 per cent. At the same time, select defensive counters such as Cipla, Hindustan Unilever, and Coal India saw modest selling pressure, which restricted broader market momentum.Gaurav Garg of Lemonn Markets Desk said improving global cues and relative stability in crude oil prices — hovering close to $102 per barrel — supported sentiment. The easing of immediate inflation worries linked to volatile oil prices helped markets stabilise after recent geopolitical-led turbulence.Even as the benchmarks edged higher, technical signals suggested that investors should remain watchful. Vishnu Kant Upadhyay of Master Capital Services pointed out that the Nifty has been unable to sustain levels above 23,850, which continues to act as a key resistance zone. “The 23,850–24,000 band remains critical. Heavy call writing in this range is limiting upside momentum. A decisive breakout could push the index towards 24,200–24,300 levels, where the 21-day EMA is placed,” he said.Analysts also stressed that the current rally appears to be driven by opportunistic buying after the recent sell-off, rather than a clear shift in long-term trend. Vinod Nair of Geojit Investments said the recovery has been broad-based, led by IT, realty and auto stocks, with mid-cap and small-cap shares also participating. “The rebound has been broad-based, with leadership from IT, realty, and auto stocks, along with participation from mid- and smallcaps,” he noted.Despite the three-day upswing, underlying risks persist. Market experts flagged geopolitical tensions related to the Iran situation, elevated crude oil prices and weakness in the rupee as potential constraints on further gains in the near term. Global monetary policy cues also remain a key overhang.Investors are now focused on signals from major central banks such as the US Federal Reserve and the European Central Bank, which could influence liquidity conditions and foreign fund flows into emerging markets like India.From a structural perspective, the recent correction from around 26,350 to near 23,200 had pushed the Nifty into an oversold territory, making a technical rebound likely. However, sustaining momentum above critical resistance levels will be essential to confirm whether the market has indeed found a durable bottom.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)



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Direct tax collections rise 7.1% to Rs 22.8 lakh crore till March 17; corporate tax drives growth


Direct tax collections rise 7.1% to Rs 22.8 lakh crore till March 17; corporate tax drives growth

India’s net direct tax collection increased 7.1 per cent to about Rs 22.8 lakh crore till March 17 in the current financial year, aided by higher corporate tax mop-up and slower refund outgo, according to official data released on Wednesday.Data shared by the Income Tax Department showed that net corporate tax collection grew by around 13 per cent to Rs 9.68 lakh crore, while taxes from non-corporates — including individuals and Hindu Undivided Families (HUFs) — rose 3 per cent to nearly Rs 11.32 lakh crore, PTI reported.Collections from the Securities Transaction Tax (STT) stood at Rs 55,717 crore between April 1, 2025, and March 17, 2026, compared with Rs 53,095 crore in the corresponding period of the previous financial year, registering a 5 per cent increase.Tax refund issuance during the period declined 6 per cent to Rs 4.34 lakh crore.Advance tax collections rose 6.4 per cent to Rs 11.13 lakh crore across four instalments, with the final tranche closing on March 15, the department said. However, advance tax receipts in the non-corporate segment recorded a decline of 1.78 per cent to Rs 2.83 lakh crore as of March 17, 2026, compared with Rs 2.88 lakh crore in the same period a year earlier.Corporate advance tax collections, on the other hand, increased 9.5 per cent to Rs 8.29 lakh crore from Rs 7.57 lakh crore as of March 17, 2025.Gross direct tax collections rose 4.8 per cent to Rs 27.15 lakh crore during the period under review. This included gross corporate tax collections of Rs 13.47 lakh crore and non-corporate tax collections of Rs 13.11 lakh crore.In the Revised Estimates for the ongoing financial year 2025–26, the government has projected total direct tax collections at Rs 24.84 lakh crore.



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Palam fire: Delhi CM announces ex gratia, says govt stands firmly with affected families | India News


Palam fire: Delhi CM announces ex gratia, says govt stands firmly with affected families

NEW DELHI: Delhi Chief Minister Rekha Gupta on Wednesday announced ex gratia of Rs 10 lakh to families of adult deceased persons and Rs 5 lakh to the next of kin of those who were minor and died in the Palam fire incident. “Delhi government stands firmly with the affected families and will ensure all possible support. Financial assistance is being provided,” Gupta said in a post on X. She announced “Rs 10 lakh each to the families of deceased adults, Rs 5 lakh each to the families of deceased minors and Rs 2 lakh each to the seriously injured”. “We are committed to ensuring relief, support and all necessary assistance in this difficult time,” she added. Nine members of a family, including a 70-year-old woman and three of her granddaughters, were killed after a massive fire tore through a multi-storey residential building in southwest Delhi’s Palam area on Wednesday morning, officials said. Three others were injured, two of them jumped from the building at Ram Chowk Market near Palam Metro Station in a desperate attempt to escape the flames, they said.



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‘Okay if Gambhir wanted me, Kohli & Rohit out’: Ashwin backs India coach’s call to ‘move on’ | Cricket News


Virat Kohli, Ravichandran Ashwin. (File photo)

Former India spinner Ravichandran Ashwin has spoken about his retirement and backed head coach Gautam Gambhir, saying he is within his rights to take calls in the interest of the team, even if it means senior players have to move on.Ashwin announced his retirement in December 2024 during the India-Australia Test series, the Border-Gavaskar Trophy, after the third Test in Brisbane. He had played the second Test in Adelaide but was left out for the Brisbane match, where Ravindra Jadeja replaced him. He finished as India’s second-highest wicket-taker in Tests with 537 wickets in 106 matches, behind Anil Kumble (619).

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Gautam Gambhir reflects on India’s World Cup win and backing Sanju Samson in the tournament

Many had questioned the timing of his decision, given he was still within reach of Kumble’s record. Speaking at the RevSportz Conclave, Ashwin explained the thinking behind his call.“One of my strongest assets, I feel, is my ability to make decisions. Whether it’s right or wrong is for people to debate. But at the end of the day, it’s my life. I need to do it on my terms. The moment, I think, at Perth, when we had Jaddu and myself as the lead spinners in the side, and Washy played that game in Perth, and then the next game, again, I came in, and then I had to again make way, was kind of suggestive or indicative to me that my time was up. And if somebody else had to come and take up that place, by all means, they need their space and time. And I’m not one of those guys who will hang around, you know, wanting to see if I can make a comeback. I’ve had far too many. I’ve come far, far too much in my life to be able to, you know, dilly-dally around with all those things,” Ashwin said.He was also asked about Gambhir and the talk around favouritism. Ashwin said the coach’s role is to take decisions for the team.“If somebody has to have angst against Gautam, it’s me, right? I come out on his second or third tour as coach…” he said wittingly.Ashwin added that even if Gambhir believed he or other senior players like Virat Kohli and Rohit Sharma should step aside, it would be acceptable.“My dad is huge well wisher. He might have some angst on the outside. When I came back from Australia, he said something in the media. I have consistently told him that ‘do not speak ill of a player when I am in the house’. We have fought over these things. Gautam, the coach, has a job to do for me in many ways, and even if he thought that I must move on or Virat must move on or Rohit must move on, it’s okay; it’s fine because he has a job to do. And at that particular instance, if I felt bitter about it, that’s also okay because it’s my emotion. But if you detach yourself from that, it’s clear to me that he has a job to do, and maybe I do not have a future in his regime,” Ashwin added.He also spoke about dealing with expectations and staying grounded.“But I have always wanted to shed ego as the first thing in my life, and I’m still in the process of shedding ego. We all are human beings. It comes to us. But if you detach yourself, things do make sense. Sometimes, because of the adulation we get in this country, we do end up thinking that we are invincible, which is not the case.”

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WATCH: Kuldeep Yadav touches Ravindra Jadeja and wife’s feet in respect at wedding reception



The cricketing world often celebrates boundary-clearing sixes and clinical hat-tricks, but a quiet moment of traditional respect has captured the internet’s heart. Following his intimate wedding to childhood sweetheart Vanshika Chadha in the serene hills of Mussoorie, Indian spin wizard Kuldeep Yadav hosted a lavish wedding reception at The Centrum in Lucknow. While the guest list read like a “who’s who” of Indian sports and politics, the highlight of the evening was a viral video showcasing the deep-rooted cultural values shared within the Indian locker room.

Kuldeep Yadav’s gesture wins hearts as he touches Ravindra Jadeja and wife’s feet

As veteran all-rounder Ravindra Jadeja and his wife, Rivaba, stepped onto the stage to congratulate the newlyweds, Kuldeep performed a gesture that transcended sport. In a display of Sanskaar, the 30-year-old left-arm chinaman bowler touched the feet of the veteran couple to seek their blessings. This gesture of humility toward a senior teammate, despite both being active international stars resonated deeply with fans, highlighting a brotherhood that exists beyond the competitive pressure of the 22 yards.

The couple made a grand entrance at the venue in a classic vintage Rolls-Royce, setting a sophisticated tone for the evening. Kuldeep looked dapper in a sharp black suit, while Vanshika complemented him in an elegant cream-coloured saree. The atmosphere, enriched by the soft strains of classical music, provided a perfect backdrop for a celebration that balanced modern stardom with timeless tradition.

Here’s the video:

Also READ: Ravichandran Ashwin slams fan agendas, questions hero worship culture in Indian cricket

Political heavyweights and cricket icons unite to celebrate Kuldeep’s wedding

The reception was far more than a sporting gathering; it served as a rare intersection of Indian cricket and high-level governance. The presence of Uttar Pradesh Chief Minister Yogi Adityanath and Samajwadi Party president Akhilesh Yadav underscored Kuldeep’s status as one of the state’s most beloved sporting icons. Despite their political differences, the leaders joined a host of dignitaries, including BCCI Vice-President Rajeev Shukla and State Minister A. K. Sharma, to wish the couple well.

The cricketing fraternity was out in full force to support their teammate. India’s head coach Gautam Gambhir made a notable appearance, alongside current stars like Rishabh Pant and Yashasvi Jaiswal.
Former opening batter Shikhar Dhawan, known for his infectious energy, took to Instagram to share his joy, posting: “Congratulations to the beautiful couple @kuldeep_18 & Vanshika. Wishing you both a lifetime of love and happiness.”

Kuldeep, who has been a vital asset for India across all formats boasting an impressive tally of wickets in 17 Tests, 120 ODIs, and 54 T20Is, now begins a new innings off the field. This celebration in Lucknow served as a fitting tribute to a player who has remained grounded despite his meteoric rise, proving that even in the fast-paced world of international cricket, respect for one’s seniors and roots remains the ultimate spin.

Also READ: Suryakumar Yadav reveals about how he was approached for India’s T20I captaincy role





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Iran: US intelligence chief says Iran not rebuilding nuclear programme, undercutting Donald Trump’s war rationale


US intelligence chief says Iran not rebuilding nuclear programme, undercutting Donald Trump’s war rationale

US intelligence chief says Iran not rebuilding nuclear programme, undercutting Donald Trump’s war rationale

US intelligence has concluded that Iran has not tried to rebuild the nuclear enrichment capacity destroyed in last year’s US and Israeli strikes, a finding that cuts against one of President Donald Trump’s central claims for the current war, according to testimony delivered to Congress on Wednesday.Director of National Intelligence Tulsi Gabbard said in prepared testimony to the Senate Intelligence Committee that there had been “no efforts” by Tehran to restore its enrichment capability after the June 2025 US attack, known as Operation Midnight Hammer.

Gabbard’s written testimony contradicts Trump’s core claim

In her prepared remarks, Gabbard said, “As a result of Operation Midnight Hammer, Iran’s nuclear enrichment program was obliterated.”“There has been no efforts since then to try to rebuild their enrichment capability,” she added, according to news agency AFP.That assessment is significant because Trump has repeatedly argued that he ordered the latest joint US-Israeli military campaign against Iran on February 28 because Tehran posed an “imminent threat” and was only weeks away from obtaining a nuclear bomb.The UN nuclear watchdog and many independent observers have not backed the claim that Iran was on the verge of building a bomb. The report also said Iran had been in talks with Trump’s envoys on a possible deal in the days before the attack.

Gabbard avoids repeating the assessment in open hearing

Even though the finding was included in her written testimony, Gabbard did not repeat it in her public remarks before cameras.When a Democratic senator pressed her on the issue, Gabbard said she had not had enough time to read the full testimony during the hearing, but she did not dispute the written assessment.That only added to the tension surrounding her appearance, with Democrats trying to pin down whether the intelligence community actually supports the administration’s public case for war.Gabbard repeatedly deflected questions about what intelligence she had given Trump, frustrating Democratic senators who used the annual worldwide threats hearing to probe the basis for the widening Middle East conflict.When asked by Senator Mark Warner whether she had warned Trump that Iran might shut the Strait of Hormuz if attacked, Gabbard declined to discuss internal advice.“I have not and won’t divulge internal conversations. I will say that those of us within the intelligence community continue to provide the president with all of the best objective intelligence available to inform his decisions,” she said, as quoted by news agency AP.

Joe Kent resignation deepens scrutiny of White House’s Iran threat claims

Joe Kent’s resignation had already sharpened questions around the administration’s war rationale. Kent stepped down on Tuesday as director of the National Counterterrorism Center, saying he could not “in good conscience” support the ongoing war in Iran and arguing that Tehran posed “no imminent threat” to the United States. Trump responded angrily, saying Kent was “very weak on security” and that “it’s a good thing he’s out.” The president also doubled down on his position that Iran was a serious danger, saying, “Iran was a threat—every country realized that,” and adding that officials who did not believe Iran posed a threat were not people “we want” in the administration. The White House has since repeatedly rejected Kent’s claim, insisting Trump had “strong and compelling evidence” that Iran was preparing to strike first.

CIA chief says Tehran negotiated in bad faith

While Gabbard’s written testimony cast doubt on the argument that Iran was racing to rebuild its nuclear programme, CIA Director John Ratcliffe took a harder line on Tehran’s intentions.Ratcliffe told senators that Iran had not been serious in its diplomacy with Washington before the war.“It was very clear that Iran, while they were talking, they had no intentions of following through,” Ratcliffe said.Ratcliffe rejected the assessment of former National Counterterrorism Center chief Joe Kent, who resigned this week and said Iran did not pose an imminent threat.“The intelligence reflects the contrary,” Ratcliffe told lawmakers.

Democrats turn up pressure over war justification

The hearing quickly became a major test for the administration’s case for war.Democratic Senator Michael Bennet accused Trump of abandoning his own anti-interventionist message.“President Trump said, we are not the policemen of the world. He ran on that,” Bennet said.“Now he’s turned us into the world’s policeman, into its jury, into its judge, into its executioner,” he added.Democrats also tried to use the hearing to press officials on wider consequences of the war, including the risk that Iran could strike Gulf countries or disrupt the Strait of Hormuz, a vital route for oil and gas shipments.The hearing comes amid wider scrutiny of the administration’s conduct of the war, including reported concerns over an investigation into a US missile strike that allegedly hit an elementary school in Iran and killed more than 165 people, with the White House saying the incident is under review.

Gabbard says Iranian regime still intact, though weakened

Despite the damage caused by weeks of attacks, Gabbard said the Iranian state remains in place.She told senators that the US intelligence community believes the regime is “intact but largely degraded due to attacks on its leadership and military capabilities.”Her remarks came even as she described the cumulative effect of the campaign as severe. The war has included the killing of Iran’s longtime supreme leader, Ayatollah Ali Khamenei.Gabbard warned that if the current regime survives, it will probably try over time to restore its military strength.“If a hostile regime survives, it will likely seek to begin a years-long effort to rebuild its military, missiles and UAV forces,” she said.

Broader global threats: Russia, Ukraine and China

Beyond Iran, Gabbard used the hearing to lay out the intelligence community’s wider threat picture.She said Russia still holds the advantage in its four-year war in Ukraine.“US intelligence assesses that Russia has maintained the upper hand in the war against Ukraine,” Gabbard said.She added that while US-led peace talks between Moscow and Kyiv are continuing, Russia is likely to keep fighting a slow war until a deal is reached.Gabbard also warned of the danger of an “escalatory spiral” in Ukraine or elsewhere that could potentially lead to nuclear weapons use.On China, she said Beijing is rapidly modernising its military with the long-term goal of being able to seize Taiwan, but the intelligence community believes China would still prefer to create conditions for eventual “peaceful reunification” without a war.



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IPL 2026: List of coaches for all 10 teams | Cricket News


IPL 2026: List of coaches for all 10 teams

NEW DELHI: The Indian Premier League (IPL) 2026 season is fast approaching, with all 10 franchises finalising their coaching setups and support staff ahead of the new campaign. The tournament is set to begin on March 28, with defending champions Royal Challengers Bengaluru taking on Sunrisers Hyderabad at the M. Chinnaswamy Stadium.Teams have assembled a mix of experienced international names and former players in their backroom staff.

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Cricket stars gather for Kuldeep Yadav’s grand wedding reception | Star-studded night

RCB will be led by head coach Andy Flower, with support from Dinesh Karthik and Omkar Salvi. Chennai Super Kings continue under the guidance of Stephen Fleming, alongside Michael Hussey and Eric Simons.At Mumbai Indians, Mahela Jayawardene leads a strong staff including Lasith Malinga and Kieron Pollard. Kolkata Knight Riders have Abhishek Nayar as head coach, with Shane Watson and Dwayne Bravo in key roles.Gujarat Titans are coached by Ashish Nehra, while Rajasthan Royals rely on Kumar Sangakkara. Punjab Kings have Ricky Ponting at the helm.Lucknow Super Giants are guided by Justin Langer, with Kane Williamson as advisor, while Delhi Capitals have Hemang Badani as head coach.Sunrisers Hyderabad will be coached by Daniel Vettori, supported by Muttiah Muralitharan and others.

IPL 2026: Head coaches and Staff

Royal Challengers Bengaluru (RCB)

  • Head Coach: Andy Flower
  • Batting Coach: Dinesh Karthik
  • Bowling Coach: Omkar Salvi
  • Assistant Coach: Richard Halsall
  • Scout: M. Rangarajan

Chennai Super Kings (CSK)

  • Head Coach: Stephen Fleming
  • Batting Coach: Michael Hussey
  • Bowling Coaches: Sridharan Sriram, Eric Simons
  • Fielding Coach: Rajiv Kumar

Mumbai Indians (MI)

  • Head Coach: Mahela Jayawardene
  • Batting Coach: Kieron Pollard
  • Bowling Coaches: Paras Mhambrey, Lasith Malinga
  • Fielding Coach: Carl Hopkinson

Kolkata Knight Riders (KKR)

  • Head Coach: Abhishek Nayar
  • Bowling Coach: Tim Southee
  • Assistant Coach: Shane Watson
  • Fielding Coach: Dishant Yagnik
  • Mentor: Dwayne Bravo

Gujarat Titans (GT)

  • Head Coach: Ashish Nehra
  • Batting Coach: Matthew Hayden
  • Assistant Coaches: Aashish Kapoor, Narender Negi, Parthiv Patel

Rajasthan Royals (RR)

  • Head Coach: Kumar Sangakkara
  • Batting Coach: Vikram Rathour
  • Bowling Coach: Shane Bond
  • Assistant Coach: Trevor Penney

Punjab Kings (PBKS)

  • Head Coach: Ricky Ponting
  • Bowling Coach: James Hopes
  • Assistant Coach: Brad Haddin
  • Spin Coach: Sairaj Bahutule

Lucknow Super Giants (LSG)

  • Head Coach: Justin Langer
  • Batting Coach: Matthew Mott
  • Bowling Coach: Bharat Arun
  • Assistant Coach: Lance Klusener
  • Fielding Coach: Abhay Sharma
  • Advisor: Kane Williamson

Delhi Capitals (DC)

  • Head Coach: Hemang Badani
  • Bowling Coach: Munaf Patel
  • Assistant Coach: Ian Bell
  • Director of Cricket: Venugopal Rao

Sunrisers Hyderabad (SRH)

  • Head Coach: Daniel Vettori
  • Batting Coach: Hariesh Jaikumar
  • Bowling Coach: Varun Aaron
  • Assistant Coach: Simon Helmot
  • Spin Coach: Muttiah Muralitharan
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Forest min: No law on releasing of domestic animals into wild | Mumbai News


Mumbai: Forest minister Ganesh Naik on Wednesday told the Legislative Assembly that the Wildlife (Protection) Act, 1972, does not provide for deliberately releasing domestic animals into the habitat of wild animals and providing them with food. Naik said there is no scientific or legal basis that simply providing artificial food will completely stop human-wildlife conflict. Naik said there are provisions regarding the protection, management and habitat conservation of wild animals under the Wildlife (Protection) Act, 1972. Naik was replying to questions raised by MLA Shirish Kumar Naik. In Dec 2205, Naik had announced a plan to address the rise in leopard attacks on humans in the state: releasing goats into forests to prevent the animals from entering human settlements in search of prey. Naik had made the statement during a calling attention motion on leopard attacks, which was discussed at the legislature’s Winter Session in Nagpur. Shirish Kumar Naik had asked if forest department officials have been ordered to release 1 crore goats and sheep in leopard-dominated areas in the state to prevent leopards from entering human settlements and if a scheme of buying goats and sheep and releasing them into the forest is permanently viable. “Section 9 of the Wildlife (Protection) Act, 1972 prohibits hunting of scheduled wild animals. Also, artificial interference with the natural behavior of wild animals is not in keeping with the basic principles..The behavior of wild animals depends on many factors. Habitat disturbance, prey availability, human interference, etc. There is no scientific or legal basis that simply providing artificial food will completely stop human-wildlife conflict,” Ganesh Naik said. “Under Section 11, if there is a serious threat to human life, capture/relocation may be ordered by the competent authorities. Capturing leopards through trained teams and releasing them into their natural habitats as appropriate. Habitat improvement, natural prey enhancement. Public awareness, emergency response teams..Procedures for providing immediate financial assistance to victims, etc. All the above measures are implemented within the framework of the law and in accordance with the guidelines of the central govt,” Ganesh Naik said in his written reply.“If four people are killed in leopard attacks, the state govt has to pay Rs 1 crore in compensation. So, instead of paying compensation after deaths, I told officials to release goats worth Rs 1 crore into the forest so that leopards do not venture into human habitats,” Naik said.



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US eases Venezuela oil sanctions amid Iran war; Trump administration moves to boost global supply


US eases Venezuela oil sanctions amid Iran war; Trump administration moves to boost global supply

The United States has eased sanctions on Venezuela’s state-owned oil sector, allowing American companies to resume limited business with Petróleos de Venezuela S.A. (PDVSA), as the Donald Trump administration seeks to expand global oil supplies during the ongoing Iran conflict, AP reported.The US Treasury Department on Wednesday issued a broad licence permitting PDVSA to sell Venezuelan crude directly to US companies and in global markets, marking a major policy shift after years of restrictions on dealings with Venezuela’s government and energy industry.Separately, the White House said Trump would waive, for 60 days, requirements under the Jones Act that goods shipped between US ports be transported on US-flagged vessels. The law, introduced in the 1920s to support domestic shipbuilding, has often been criticised for contributing to higher fuel costs.The twin moves underline mounting pressure on the administration to contain rising oil prices as the United States, alongside Israel, continues military operations against Iran with no clear end in sight. Global energy markets have tightened after Tehran halted traffic through the Strait of Hormuz, a key route through which roughly one-fifth of the world’s oil supply typically passes.According to a Treasury official cited by The Associated Press, the licence is intended to encourage new investment in Venezuela’s energy sector while increasing worldwide crude availability. The official spoke on condition of anonymity.Since the ouster and arrest of Nicolás Maduro during a US military operation in January, Trump has said Washington would effectively “run” Venezuela and sell its oil output.The targeted relief does not fully remove sanctions. The licence allows companies that were operational before January 29, 2025, to purchase Venezuelan crude and conduct transactions otherwise barred under US restrictions, effectively reopening trade channels for a major oil producer.However, payments cannot be made directly to sanctioned Venezuelan entities such as PDVSA. Instead, proceeds must be routed to a US-controlled account, meaning oil trade can resume but financial flows will remain under American oversight.The licence also prohibits transactions involving Russia, Iran, North Korea, Cuba and certain Chinese entities, as well as dealings related to Venezuelan sovereign debt or bonds. Payments in gold or cryptocurrency, including the petro token issued by Caracas in 2018, are not permitted.Analysts expect the measure to provide a significant boost to Venezuela’s oil-dependent economy and reassure companies wary of investing. The decision forms part of what officials describe as a phased plan by the Trump administration to stabilise Venezuela.Critics argue the policy risks benefiting political leaders aligned with Maduro despite ongoing concerns over repression, corruption and human rights abuses. Economic conditions in the country remain strained, with many public-sector workers earning roughly $160 a month and private-sector wages averaging about $237 last year, according to Venezuela’s central bank. Inflation surged to 475%, pushing food costs beyond the reach of many households.Venezuela possesses the world’s largest proven oil reserves and once relied on them to sustain one of Latin America’s strongest economies. However, corruption, policy missteps and US sanctions led output to plunge from about 3.5 million barrels per day in 1999 to less than 400,000 barrels per day in 2020.Earlier sanctions under Trump’s first administration had forced Caracas to sell crude at steep discounts — about 40% below market rates — to buyers including China and other Asian markets, often accepting alternative forms of payment such as rubles, barter or digital assets.Meanwhile, White House press secretary Karoline Leavitt said the temporary Jones Act waiver would help “mitigate the short-term disruptions to the oil market” during the Iran conflict and “allow vital resources like oil, natural gas, fertilizer, and coal to flow freely to U.S. ports.”



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