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Venezuelan Vice-President Tareck El Aissami (Photo by AP) The US has imposed sanctions against Venezuelan Vice-President Tareck El Aissami over his alleged involvement in drug trafficking, in yet another hostile measure that could spark fresh tensions between the two countries. Late on Monday, the US Treasury Department blacklisted El Assiami and his associate, Venezuelan businessman Samark Lopez, over allegations of having a role in global drug trafficking. As part of the sanctions effort, 13 companies owned or controlled by Lopez -- including five based in the US state of Florida -- will be blocked and both men will be banned from entering the United States. Lopez stands accused of serving as El Aissami’s “key front-man” to launder drug proceeds and purchase assets. El Aissami, who has long denied any criminal ties, did not immediately react to Washington’s move. Since his days as interior minister, El Aissami has been the target of US law enforcement investigation over al...

A file photo of the US Congress in Washington, DC. A growing number of US senators from both major political parties plan to increase sanctions against Russia and give Congress the authority to prevent President Donald Trump from lifting sanctions on Moscow unilaterally. On Wednesday, a group six Republican and Democratic senators, plan to introduce legislation that would impose strict new congressional oversight and veto power over the Trump administration if it decided to lift sanctions on Russia. The Russia Sanctions Review Act is the latest warning from Congress to the new administration over Trump's desire to improve relations with Russian President Vladimir Putin. Senator Lindsey Graham, a Republican from South Carolina, and one of the co-sponsors of the bill said Russia has done nothing to be rewarded with sanctions relief. Senator Ben Cardin, a Democrat from Maryland, who also co-sponsored the bill, said the bill gives Congress the opportunity to act if it disagrees w...

Iran's Supreme Leader Ayatollah Ali Khamenei delivers a speech in a meeting with military commanders in Tehran, Iran, February 7, 2017. Leader.ir/Handout via REUTERS Iran's Supreme Leader Ayatollah Ali Khamenei waves as he delivers a speech in a meeting with military commanders in Tehran, Iran, February 7, 2017. Leader.ir/Handout via REUTERS (Reuters) - Iranian Supreme Leader Ayatollah Ali Khamenei dismissed U.S. President Donald Trump's warning to Tehran to stop its missile tests, and called on Iranians to respond to Trump's "threats" on Friday's anniversary of the 1979 revolution. "No enemy can paralyze the Iranian nation," Khamenei was quoted as saying by his website in a meeting with military commanders in Tehran. "[Trump] says 'you should be afraid of me'. No! The Iranian people will respond to his words on Feb 10, (the anniversary of revolution) and will show their stance against such threats."

National flags of U.S. and China wave in front of an international hotel in Beijing February 4, 2010. (Photo by Reuters) China says it has protested to the US for putting Chinese companies and individuals on a new sanctions list targeting Iran.  Foreign Ministry spokesman Lu Kang said on Monday Beijing had "lodged representations" with Washington after Trump's administration imposed sanctions on 25 people and entities on Friday for trade with Iran. "We have consistently opposed any unilateral sanctions," Lu told a regular press briefing in Beijing. Unilateral US sanctions in the past have infuriated China. Last March, Beijing was outraged after the US government punished China’s largest telecom equipment maker ZTE Corps for alleged violations of sanctions on Iran. Read more:  China irate as US targets Iran trade China's Foreign Ministry expressed anger at the action, saying it is “opposed to the US citing domestic laws to place sanctions on Chinese ...

Iran is holding a military exercise on Saturday to test its missile and radar systems, a day after U.S. President Donald Trump's administration imposed sanctions on Tehran for a recent ballistic missile test. The United States sanctioned 13 individuals and 12 entities related to Iran's missile programme and Trump's national security adviser Michael Flynn said the United States was putting Iran on notice over its "destabilising activity". Iran's Revolutionary Guards website said that the aim of the military exercise in Semnan province was to "showcase the power of Iran's revolution and to dismiss the sanctions." Iranian state news agencies reported that home-made missile systems, radars, command and control centres, and cyber warfare systems would be tested in the drill. Although tensions between Washington and Iran have risen, U.S. Defense Secretary Jim Mattis said on Saturday he was not considering raising the number of U.S. forces in the Mi...

Oil prices edged higher on Friday in response to the possibility of new sanctions on Iran after U.S. President Donald Trump said "nothing is off the table" in response to its test launch of a missile. Comments by Russian energy minister Alexander Novak that oil producers had cut their output as agreed under a deal with OPEC also helped to support prices, analysts said. Brent crude futures were up 15 cents to $56.71 a barrel by 1322 GMT, after settling 24 cents lower at $56.56 in the previous session. Brent was on track to gain more than 2 percent on the week, its first significant weekly rise this year. Front month U.S. West Texas Intermediate crude futures climbed 15 cents to $53.69 a barrel, after ending 34 cents down on Thursday. For the week, the contract is up just under 1 percent. Reuters reported on Thursday that the Trump administration is prepared to roll out new measures against more than two dozen Iranian targets following Tehran's ballistic missile test, a...