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  • Massive Blaze Breaks Out at Central Iran Oil Refinery: Firefighters Battle Inferno

    A fire broke out at the Eyvanki Oil Refining Company in Semanan province, prompting immediate action from emergency response teams, including the Red Crescent, Fire Department, and local police. These units are actively engaged in firefighting and rescue operations to contain the blaze, but there are currently no updates on casualties or injuries. Authorities are investigating the cause of the fire, which remains unknown. The incident highlights the risks associated with oil refining and the need for effective safety protocols. Local residents are urged to remain informed and prioritize safety as investigations continue. Further updates will follow.

  • Saudi Arabia Unveils $600 Billion Investment Plan to Boost Trade Ties with the U.S.

    Saudi Arabia’s Crown Prince Mohammed bin Salman and US President Donald Trump held their first phone call, marking a significant step in enhancing bilateral cooperation. The leaders discussed key issues such as promoting peace and stability in the Middle East, combating terrorism, and strengthening economic ties. Bin Salman congratulated Trump on his inauguration and revealed plans for Saudi Arabia to invest around $600 billion in the US. This conversation highlights the strategic importance of US-Saudi relations and sets the stage for future collaboration on regional challenges, with implications likely to resonate across both countries and the broader Middle East.

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  • China Fuels Iran’s Economy: Contributing $65-70 Billion to Foreign Trade

    Recent discussions highlight the deepening economic partnership between Iran and China, with approximately 50% of Iran’s non-oil trade occurring with China. Majid Reza Hariri, chairman of the Iran-China Joint Chamber of Commerce, noted that China accounts for 29% of Iran’s exports and 25% of its imports. China also purchases over 92% of Iran’s oil exports, amounting to $65-70 billion in combined trade. Iranian President Masoud Pezeshkian’s upcoming visit to China aims to strengthen these ties, with potential agreements to enhance cooperation, particularly in the energy sector, despite ongoing international sanctions.

  • Khamenei and IRGC Expand Control Over Iran’s Oil Revenues and State Assets

    Iran’s new budget law significantly increases allocations of oil revenues and public funds to the Islamic Revolutionary Guard Corps (IRGC), strengthening military and Supreme Leader-linked institutions. This fiscal year, the IRGC is set to gain greater control over state assets, with military funding rising substantially. The government anticipates daily oil exports of 1.85 million barrels, with one-third earmarked for military use, reflecting a threefold increase. Additionally, military and security forces will receive 10% of the general budget for salaries. The law allows IRGC-affiliated entities to acquire state assets, indicating a pivotal shift in Iran’s economic and political landscape.