2025-10-03 20:35
Hegseth says four people killed Alleges without evidence that boat was carrying drugs Strike is at least fourth in recent weeks in southern Caribbean WASHINGTON, Oct 3 (Reuters) - The United States killed four people in a strike against a vessel allegedly carrying illegal drugs just off the coast of Venezuela, U.S. Defense Secretary Pete Hegseth said on Friday, at least the fourth such attack in recent weeks. The strike is the latest example of President Donald Trump's efforts to use U.S. military power in new, and often legally contentious, ways, from deploying active-duty U.S. troops in Los Angeles, to carrying out counter-terrorism strikes against drug trafficking suspects. Sign up here. Hegseth said Friday's strike was carried out in international waters and that all of the people killed were men. He said the vessel was transporting "substantial amounts of narcotics - headed to America to poison our people." "These strikes will continue until the attacks on the American people are over!!!!," Hegseth said in a post on X. In a nearly 40-second video shared by Hegseth, a vessel can be seen moving through the water before a web of projectiles fall on the boat and the surrounding water, causing the boat to explode on impact. Hegseth said, without providing evidence, that the intelligence "without a doubt" confirmed that the vessel was carrying drugs and that the people on board were "narco-terrorists." He did not disclose the amount or type of the alleged drugs on board the vessel. Trump, also without providing evidence, said the boat had enough drugs to kill 25,000 to 50,000 people. The Venezuelan communications ministry did not immediately reply to a request for comment. MILITARY BUILDUP In the past, counter-drug operations have been generally carried out by the U.S. Coast Guard, the main U.S. maritime law enforcement agency, not the U.S. military. But earlier this week, the Pentagon disclosed to Congress in a notification reviewed by Reuters that Trump has determined the United States is engaged in "a non-international armed conflict" with drug cartels. The document aimed to explain the Trump administration's legal rationale for unleashing U.S. military force in the Caribbean. Some former military lawyers say the legal explanations given by the Trump administration for killing suspected drug traffickers at sea instead of apprehending them fail to satisfy requirements under the law of war. Trump has said his administration is also considering attacking drug cartels "coming by land" , opens new tab, actions that could raise further legal questions. A large U.S. military buildup is taking place in the southern Caribbean. In additional to F-35 aircraft in Puerto Rico, there are eight U.S. warships in the region, carrying thousands of sailors and marines, and one nuclear-powered submarine. The Trump administration has provided scant information on the previous strikes, including the identities of those killed or details about the cargo. Venezuelan President Nicolas Maduro has repeatedly alleged that the U.S. is hoping to drive him from power. Washington in August doubled its reward for information leading to Maduro's arrest to $50 million, accusing him of links to drug trafficking and criminal groups that Maduro denies. https://www.reuters.com/world/americas/us-carries-out-new-strike-against-alleged-drug-vessel-near-venezuela-2025-10-03/
2025-10-03 18:59
WASHINGTON, Oct 3 (Reuters) - A Republican bill to fund the U.S. government and end a shutdown was falling short of the votes needed for passage in the Senate on Friday, as voting continued. Sign up here. https://www.reuters.com/world/us/republican-bill-end-us-government-shutdown-falling-short-passage-senate-voting-2025-10-03/
2025-10-03 18:53
US crude exports hit 4.2 million bpd in September South Korea and India increase US crude purchases China to resume US crude imports as tensions ease HOUSTON, Sept 29 (Reuters) - Exports of U.S. crude oil climbed to the highest level in over a year and a half in September, ship tracking data showed, as U.S. refineries began seasonal maintenance and Asian demand increased. U.S. crude exports rose to an average of 4.2 million barrels per day in September, the highest since February 2024, according to data from ship tracking firm Kpler. Exports had eased in July to their lowest levels in nearly four years on low domestic supplies and as Asian and European buyers found cheaper alternatives. Sign up here. The spread between global benchmark Brent and U.S. West Texas Intermediate crude futures widened in August, when the bulk of the trades for September were executed, averaging minus $3.79, the widest in four months. A wider spread makes it more attractive to economically ship barrels across the Atlantic. Exports to South Korea climbed to 690,000 barrels per day in September, the highest on record. South Korea has agreed to purchase liquefied natural gas or other energy products from the U.S. to the value of $100 billion. FIRST US CRUDE EXPORT TO PAKISTAN September was also marked by the first export of U.S. crude to Pakistan after a landmark trade deal. The country ordered a second shipment that sailed in September after finding its debut purchase commercially viable. Overall, shipments to the country totaled 1.9 billion barrels, or 62,000 bpd. Indian refiners also bought more cargoes of U.S. crude oil, drawn by the competitive prices, and pressure from the U.S. that on Indian imports to 50%, citing New Delhi’s buying of Russian oil. Exports to Australia rose to around 79,000 bpd, their highest since March 2024, while those to Europe eased 11% to 1.7 million bpd in September from August. Shipments to China were set to resume in October after seven months of no shipments, with volumes expected to reach as much as 335,000 bpd, Kpler said, citing fixtures data. China, the world's biggest consumer of oil, had halted purchases after February in response to escalating trade tensions. Last month, U.S. President Donald Trump said China's President Xi Jinping agreed during a call to meet face to face in South Korea to discuss the trade conflict. "The renewed flows come amid signs of easing tensions between Washington and Beijing," Kpler said in a post on X. While trade deals could contribute to incremental shipments, higher shipping costs and relatively high prices for West Texas Intermediate crude threaten to shut the U.S.-Asia oil arbitrage for November. Domestic demand should also increase after the turnaround season over the coming weeks when refineries conduct maintenance on plants and equipment, reducing the availability of barrels for export, analysts with Energy Aspects said in a note. https://www.reuters.com/business/energy/us-crude-exports-rise-15-year-high-strong-asian-demand-us-refinery-maintenance-2025-10-03/
2025-10-03 18:48
WASHINGTON, Oct 3 (Reuters) - A Democratic bill to fund the U.S. government and end a shutdown was falling short of the votes needed for passage in the Senate on Friday, as voting continued. Sign up here. https://www.reuters.com/world/us/democratic-bill-end-us-government-shutdown-falls-short-passage-senate-2025-10-03/
2025-10-03 18:48
Infrastructure mostly inherited from Noble Midstream buy Assets generate $200 mln of EBITDA Sale comes as Chevron aims to boost financial performance, prioritize cash NEW YORK, Oct 3 (Reuters) - Chevron (CVX.N) , opens new tab is selling a collection of pipeline assets in the Denver-Julesburg shale basin that are likely to fetch more than $2 billion, people familiar with the matter said. Investment bankers at Bank of America (BAC.N) , opens new tab have been working in recent weeks to solicit potential interest in the infrastructure, which was largely inherited from the oil major's acquisition of Noble Energy in 2020 and its subsequent full takeover of Noble's midstream business a year later, said the sources, who asked not to be named because the talks are private. Sign up here. Collectively, the assets generate around $200 million of earnings before interest, taxes, depreciation and amortization (EBITDA), some of the people added. Based on sales of similar assets, Chevron can expect to fetch upwards of $2 billion. A sale is not guaranteed, and Chevron could ultimately retain some or all of the assets, the people cautioned. Chevron did not respond to a comment request. Bank of America declined comment. Chevron is one of the largest producers of oil and gas in the Denver-Julesburg basin, which predominantly covers Colorado but also parts of Wyoming. While clinching its $55 billion acquisition of Hess in July after a long legal battle with Exxon Mobil (XOM.N) , opens new tab was a major victory, Chevron has been grappling with how to control costs, compete with rivals, and maintain financial performance, all against an uncertain oil price outlook. It is in the midst of shedding up to 20% of its global workforce. Chief Executive Mike Wirth told an August 1 analyst call it would challenge itself to divest assets that take money away from more profitable prospects. Deal activity in U.S. midstream has been robust, even as the Trump administration has moved to make building pipelines easier. While much has been driven by strategic players, reengaging in acquisitions after a period focused on debt reduction, private equity firms have also been keen buyers of assets. In recent weeks, MPLX (MPLX.N) , opens new tab agreed to buy privately-owned Northwind Midstream for $2.4 billion and sell assets in the Rockies for $1 billion. Plains All American (PAA.O) , opens new tab announced a $1.6 billion deal to buy a stake in the company which owns the EPIC Crude pipeline. https://www.reuters.com/business/energy/chevron-puts-2-billion-colorado-pipeline-assets-sale-sources-say-2025-10-03/
2025-10-03 16:15
A7A5 stablecoin linked by West to Russian sanctions evasion Its presence at TOKEN2049 conference highlights Western sanctions challenges Token's trading volumes soar, targeting Asian, African, Latin American markets SINGAPORE/PARIS, Oct 3 (Reuters) - The business behind a rouble-backed cryptocurrency targeted by U.S. sanctions was among the sponsors of a major crypto conference in Singapore this week, as demand soars for the token, used by Russians. The TOKEN2049 event is one of the biggest on the global crypto calendar, with more than 25,000 attendees, over 500 exhibitors, and industry elite among the speakers, including the eldest son of the U.S. president. Sign up here. The U.S. and Britain in August sanctioned several companies that they said were behind Kyrgyzstan-based A7A5, a stablecoin pegged to the rouble that was launched in January by a Russian defence lender and a payments firm. They described the token as part of a network for helping Russians evade Western sanctions. A7A5 had a booth at the TOKEN2049 conference and was listed as one of more than 20 "platinum sponsors" on the conference website. Some conference staff wore t-shirts with the A7A5 logo and its director for regulatory and overseas affairs, Oleg Ogienko, spoke on stage. References to A7A5 on TOKEN2049's website had been removed and Ogienko was no longer listed as a speaker by 1300 GMT on Thursday, after Reuters sent a request for comment. Hong Kong-registered TOKEN2049 did not reply to multiple requests for comment. Ogienko confirmed that the A7A5 operation on the ground in Singapore was part of the group targeted by sanctions. "We were sanctioned several times," he told Reuters on the event's sidelines on Thursday. He said A7A5 had nothing to do with money laundering and was compliant with regulations in Kyrgyzstan. "We just regularly applied for our participation, and the organisers confirmed the participation (at TOKEN2049)," he said. Trading volumes on A7A5 are soaring, and its presence in Singapore highlights the difficulty for Western countries that are trying to disrupt alleged use of crypto for sanctions evasion. Neither Singapore nor Hong Kong has announced sanctions on companies connected to A7A5. The U.S. does not have jurisdiction if there are no U.S. persons involved, three lawyers specialising in sanctions told Reuters. Sweeping Western sanctions since Russia's February 2022 full-scale invasion of Ukraine, particularly the exclusion of Russian banks from the SWIFT global financial messaging system, have hampered Moscow's trading options and left it seeking alternative routes for cross-border payments. Some $70.8 billion of A7A5 has been transferred since its launch in January, according to blockchain researchers Elliptic, up from $40 billion in July. The daily number of A7A5 transactions has doubled over the past month, Elliptic said. Reuters could not independently determine the source of funds in A7A5 or the reasons for the transfers. The Office of Foreign Assets Control, the U.S. Treasury agency which issued the sanctions, and Britain's finance ministry did not respond to requests for comment. Russia-based Ogienko said A7A5 was used for cross-border payments by Russian companies and trade partners. Its target markets are Asia, Africa and Latin America, he added. "There are many countries who trade with Russia, and some of them, many of them, use our stablecoin...and these are billions of dollars," he said. The Singapore gathering is one of the biggest in the crypto industry. Speakers included Donald Trump Jr; the chairman of U.S. brokerage Cantor Fitzgerald, Brandon Lutnick; and the heads of major crypto companies. Spokespeople for Trump Jr and Cantor did not respond to requests for comment. (This story has been refiled to say $70.8 billion of A7A5 has been 'transferred,' not 'traded,' in paragraph 14) https://www.reuters.com/sustainability/boards-policy-regulation/rouble-backed-token-targeted-by-sanctions-sponsors-top-crypto-conference-2025-10-03/
