Democratic Rep. Sam Liccardo has launched a congressional probe into suspicious oil market trades that occurred during the recent U.S.-Iran military conflict, according to reporting on the inquiry. The timing of the trades, executed during a period of acute geopolitical volatility, drew scrutiny from both lawmakers and regulators, suggesting the concern is not confined to a single chamber or party. Liccardo's probe follows a pattern of post-conflict financial oversight in which trades placed ahead of or during hostilities are examined for potential insider information or market manipulation. Oil markets are acutely sensitive to Iran-related news given Tehran's role as a significant producer and the strategic importance of the Strait of Hormuz to global supply routes. Whether the probe leads to formal referrals to the SEC, CFTC, or Department of Justice will determine its practical consequence. Investors and trading desks with Iran-linked exposure should monitor whether additional lawmakers join the inquiry, which would signal broader institutional momentum toward enforcement action.
India's government plans to amend the Payment and Settlement Systems Act to restore UPI merchant discount rates, ending the zero-MDR regime in place since January 2020.
India's government has introduced the Taxation and Other Laws (Amendment) Bill, 2026, proposing changes to payments regulation, income tax, and the Finance Act to attract FDI and support Make in India. The Bill's final shape will depend on parliamentary debate and committee review.
The government's Taxation and Other Laws (Amendment) Bill, 2026, proposes to replace the blanket UPI MDR ban with a system allowing the Centre to notify which payment modes stay fee-free.
Prime Minister Narendra Modi inaugurated the Rs 5,000 crore Bhogapuram greenfield airport in Andhra Pradesh, built under a public-private partnership model. He also laid foundation stones for infrastructure projects worth nearly Rs 18,000 crore in the state, signalling a broad investment push for the region.
