Biden to Assume US Presidency amid Deep Division and Raging Pandemic

US President-elect Joe Biden speaks during an event in New Castle, Delaware, US January 19, 2021. (Reuters)
US President-elect Joe Biden speaks during an event in New Castle, Delaware, US January 19, 2021. (Reuters)
TT

Biden to Assume US Presidency amid Deep Division and Raging Pandemic

US President-elect Joe Biden speaks during an event in New Castle, Delaware, US January 19, 2021. (Reuters)
US President-elect Joe Biden speaks during an event in New Castle, Delaware, US January 19, 2021. (Reuters)

Democrat Joe Biden will be sworn in as the 46th president of the United States on Wednesday, assuming the helm of a country beset by deep political divides and battered by a raging coronavirus pandemic.

Biden, 78, will become the oldest US president in history at a scaled-back ceremony in Washington that has been largely stripped of its usual pomp and circumstance, due both to the coronavirus as well as security concerns following the Jan. 6 assault on the US Capitol by supporters of outgoing President Donald Trump.

With only a small number of attendees present, the Democrat will take the oath of office before US Chief Justice John Roberts just after noon (1700 GMT), placing his hand on an heirloom Bible that has been in the Biden family for more than a century.

His running mate, Kamala Harris, the daughter of immigrants from Jamaica and India, will become the first Black person, first woman and first Asian American to serve as vice president after she is sworn in by US Supreme Court Justice Sonia Sotomayor, the court’s first Latina member.

The ceremony will unfold in front of a heavily fortified US Capitol, where a mob of Trump supporters stormed the building two weeks ago, enraged by his false claims that November’s election was stolen with millions of fraudulent votes. The violence prompted the Democratic-controlled US House of Representatives to impeach Trump last week for an unprecedented second time.

Thousands of National Guard troops were called into the city after the siege, which left five people dead and briefly forced lawmakers into hiding. Instead of a throng of supporters, the National Mall will be covered by nearly 200,000 flags and 56 pillars of light meant to represent people from US states and territories.

Biden, who has vowed to “restore the soul of America,” will call for American unity at a time of crisis in his inaugural address, according to advisers.

In an early sign of his plan to reach across the political aisle, Biden has invited top congressional leaders, including House Republican leader Kevin McCarthy and Senate Republican leader Mitch McConnell, to join him at church on Wednesday morning.

In a break with more than a century and a half of political tradition, Trump plans to depart the White House ahead of the inauguration, declining to meet with his successor and affirm the peaceful transfer of power.

Vice President Mike Pence, former US Presidents George W. Bush, Barack Obama and Bill Clinton, and both McCarthy and McConnell are all expected to attend Biden’s inauguration ceremony.

Trump, who has grown increasingly isolated in the waning days of his tenure, has still not formally conceded the Nov. 3 election. He will hold a sendoff event at Joint Air Force Base Andrews in the morning, although top Republicans, including Pence, are not expected to attend.

Grim milestones
For Biden, who long harbored presidential ambitions, the inauguration is the zenith of a five-decade career in public service that included more than three decades in the US Senate and two terms as vice president under former President Barack Obama.

But he will confront a set of overlapping crises that would challenge even someone of his political experience.

The novel coronavirus reached a pair of grim milestones on Trump’s final full day in office on Tuesday, reaching 400,000 US deaths and 24 million infections - the highest of any country. Millions of Americans are out of work because of pandemic-related shutdowns and restrictions.

Biden has vowed to bring the full weight of the federal government to bear on the crisis, including a more robust testing and tracing program and a massive vaccination drive. His top priority is a $1.9 trillion plan that would enhance jobless benefits and provide direct cash payments to households. It will require approval from a deeply divided Congress, where Democrats will hold slim advantages in both the House and Senate.

He also plans a series of executive orders on his first day in the White House, including rolling back Trump’s ban on travelers and immigrants from some Muslim-majority countries, rejoining the Paris climate accord and issuing a mask mandate for federal property.

Although Biden has laid out an ambitious agenda for his first 100 days, including delivering 100 million COVID-19 vaccinations, the Senate could be consumed by Trump’s upcoming impeachment trial, which will move ahead even though he has left office.

The trial could serve as an early test of Biden’s promise to foster a renewed sense of bipartisanship in Washington.



Iran Can Go up to Two Months without Oil Exports Before Cutting Output, Analysts Say

A man rides past a large billboard referring to the Strait of Hormuz in Tehran's Vanak Square on April 15, 2026. (AFP)
A man rides past a large billboard referring to the Strait of Hormuz in Tehran's Vanak Square on April 15, 2026. (AFP)
TT

Iran Can Go up to Two Months without Oil Exports Before Cutting Output, Analysts Say

A man rides past a large billboard referring to the Strait of Hormuz in Tehran's Vanak Square on April 15, 2026. (AFP)
A man rides past a large billboard referring to the Strait of Hormuz in Tehran's Vanak Square on April 15, 2026. (AFP)

Iran can withstand a complete halt in oil exports of up to two months before being forced to curb production, analysts said, after the US began blocking shipping in and out of the country's ports on April 13.

The blockade could prevent roughly 2 million barrels per day (bpd) of Iranian crude from reaching its main buyer China.

Any Iranian production shutdowns would add to more than 12 million bpd of supply already disrupted by the regional war, tightening markets further and ‌lifting oil ‌prices.

With its exports blocked, Iran faces having to ‌divert ⁠crude into onshore storage ⁠tanks. Once those tanks are filled, the OPEC member would be required to curb upstream output.

Consultancy FGE NextantECA estimates Iran has about 90 million barrels of available onshore crude storage capacity, out of total capacity of roughly 122 million barrels.

"Iran can sustain current production of around 3.5 million bpd for roughly two months without exports, extendable to around three months with a modest ⁠500,000 bpd production cut," FGE NextantECA said in a ‌note.

Iranian domestic refineries process about 2 million ‌bpd of oil, they added.

The relevant Iranian authorities were not immediately available for comment.

Energy ‌Aspects assumes significantly lower available onshore storage of about 30 million barrels, ‌based on data from Kayrros.

Under that scenario, Iran could maintain current export levels for about 16 days before storage capacity runs out, based on export levels of 1.8 million bpd.

"The blockade may not have a significant impact on Iranian production in ‌April, but if it continues into May then output would need to be reduced substantially," said Richard ⁠Bronze, co-founder of Energy ⁠Aspects.

He said the consultancy assumes Iran cannot utilize its full nameplate storage capacity, adding that historic data show stocks peaked at 92 million barrels in May 2020, which likely marks a realistic ceiling.

Bronze also said Iran will likely deploy available oil tankers in ports as floating storage, delaying production cuts.

The US military said more vessels were being turned back under the blockade, including the Chinese-owned tanker Rich Starry, which is under US sanctions and which was seen heading back through the Strait of Hormuz on Wednesday.

Eight Iran-linked oil tankers have been intercepted since the blockade began on Monday, the Wall Street Journal reported. A US destroyer stopped two tankers attempting to leave Iran's Chabahar port on the Gulf of Oman on Tuesday, a US official said.


World Bank Announces Water Security Plan for One Billion People

 A girl carries jerrycans on a wheelbarrow after collecting water from a well at a mosque in Deh Mazang, Kabul, Afghanistan, Thursday, April 2, 2026. (AP)
A girl carries jerrycans on a wheelbarrow after collecting water from a well at a mosque in Deh Mazang, Kabul, Afghanistan, Thursday, April 2, 2026. (AP)
TT

World Bank Announces Water Security Plan for One Billion People

 A girl carries jerrycans on a wheelbarrow after collecting water from a well at a mosque in Deh Mazang, Kabul, Afghanistan, Thursday, April 2, 2026. (AP)
A girl carries jerrycans on a wheelbarrow after collecting water from a well at a mosque in Deh Mazang, Kabul, Afghanistan, Thursday, April 2, 2026. (AP)

The World Bank announced a plan Wednesday that aims to improve secure water access for a billion people within the next four years.

The new "Water Forward" program aims to "expand reliable water services and strengthen systems against droughts and floods."

The Bank said its own funds and technical advice would help improve water supplies to some 400 million people by 2030, with the balance coming from partners.

Regional development banks, OPEC's development fund, and the BRICS-aligned New Development Bank are among institutions that will participate, the World Bank said.

The global lender did not specify how much capital it would commit to the initiative.

Some four billion people -- half the world's population -- face water scarcity, due in part to "unclear policies, weak regulations, and financially unsustainable utilities that have slowed progress and deterred investment," the Bank said.

The global lender said that 14 countries had already voluntarily committed to reform and strengthen their water sectors under the new program.

The focus on governance issues -- not simply physical water infrastructure -- is promising, David Michel, senior associate at the Center for Strategic and International Studies, said.

"In many countries, the water sector fails to fully deploy the funds already allocated to it."

However, the Bank's initiative "faces a long and difficult road ahead," he warned.

The issue of access to safe drinking water, in particular, has been highlighted during the war in the Middle East, with desalination plants in Iran and across the region damaged in bombardments.

Beyond conflicts and immediate drinking water needs, the World Bank said that better water security was needed to grow the global economy.

"Strong water systems are foundational to healthy economies that can attract private investment and create jobs," the Bank said.


China FM Tells Iran Beijing Supports ‘Momentum of Peace Talks’

Members of the media raise hands to ask questions as Chinese Foreign Minister Wang Yi holds a press conference on the sidelines of the National People's Congress (NPC), in Beijing, China, March 8, 2026. (Reuters)
Members of the media raise hands to ask questions as Chinese Foreign Minister Wang Yi holds a press conference on the sidelines of the National People's Congress (NPC), in Beijing, China, March 8, 2026. (Reuters)
TT

China FM Tells Iran Beijing Supports ‘Momentum of Peace Talks’

Members of the media raise hands to ask questions as Chinese Foreign Minister Wang Yi holds a press conference on the sidelines of the National People's Congress (NPC), in Beijing, China, March 8, 2026. (Reuters)
Members of the media raise hands to ask questions as Chinese Foreign Minister Wang Yi holds a press conference on the sidelines of the National People's Congress (NPC), in Beijing, China, March 8, 2026. (Reuters)

China's top diplomat told his Iranian counterpart that Beijing "supports maintaining the momentum of the ceasefire and peace talks" in a phone call on Wednesday, as negotiators from Pakistan landed in Tehran to discuss a second round of US-Iran talks.

Peace talks are "in the fundamental interests of the Iranian people and are also the shared hope of regional countries and the international community," Wang Yi said, according to a Chinese foreign ministry statement.

He said China was willing to continue to play a "constructive role" towards peace in the Middle East after a first round of Iran-US talks in Islamabad at the weekend failed to reach an agreement.