Discounts on Russian Urals and Iranian Light crude have widened significantly as the sanctioned producers compete for the limited market of China’s independent refiners.

A US Senate investigation seeks records from Binance over reports of $1.7 billion in Iran- and Russia-linked transactions, while the exchange denies wrongdoing.

As Trump considers joining the war in the Middle East, Iran’s ally says there could be potentially perilous consequences for the world.

It comes shortly after Vice President JD Vance accused Iran of failing to address core U.S. demands during nuclear talks in Geneva.

Iran on Thursday held military drills with Russia amid escalating tensions with the United States, after President Trump gave the Middle Eastern country a 10-day timeline for the U.S. and Iran to strike a deal over the latter’s nuclear program.

Defense expert Cameron Chell called Iran's military moves a "calculated escalation" as U.S. MQ-9 Reaper drones with strike capabilities were reportedly spotted in the region.

On Thursday 19, Russia and Iran combined naval forces to conduct joint exercises on the Gulf of Oman and the northern Indian Ocean. The two countries came together as a response to the US

China and Russia have forged closer ties with Tehran but have shown little willingness to provide military aid in a conflict with the U.S.