US & Canada

Iran war day 116: US eases Iran sanctions; Lebanon ceasefire holds | Explainer News

US announces the temporary easing of oil sanctions for 60 days after Iran agrees to allow international nuclear inspections.

Iran’s top negotiator, Mohammad Bagher Ghalibaf, says an agreement has been reached with the United States to release $12bn in frozen Iranian funds following talks in Switzerland.

The US eased sanctions on Iranian oil for 60 days after Tehran committed to allowing international nuclear inspectors to return to the country during negotiations to end the US-Israel war on Iran.

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Israel and Lebanon are scheduled to hold talks in the US as a ceasefire appears to be holding in Lebanon.

So what’s the latest as the conflict enters its 116th day?

Diplomacy

  • Iranian Deputy Foreign Minister Kazem Gharibabadi says technical talks with the US have concluded and the next phase “will take place under the supervision of the high-level committee” that includes Ghalibaf, Foreign Minister Abbas Araghchi and US Vice President JD Vance.
  • Ghalibaf has hailed “good achievements” in the US-Iran talks and confirmed the release of two tranches of $6bn in frozen funds.
  • The US Treasury Department has waived sanctions on the sale of Iranian crude ⁠oil, petrochemicals ⁠and petroleum products until ⁠August 21.
  • Omani Foreign Minister Badr Albusaidi reaffirms a commitment for “toll-free passage” in the Strait of Hormuz after talks with Iranian diplomats in Muscat.
  • Henry Ensher, a former US ambassador and deputy assistant secretary of state, says the release of frozen Iranian assets and the resumption of maritime traffic in the Strait of Hormuz suggest that Washington and Tehran are both “getting what they want”. “Both sides are very interested to show that, somehow, they’ve gotten the upper hand or at least that they’re not being taken advantage of,” Ensher tells Al Jazeera.

In Iran

  • Iranian President Masoud Pezeshkian has called for a “full commitment to agreed obligations”. “The effectiveness of the talks depends on full commitment to the agreed obligations and their precise implementation,” Pezeshkian says.
  • Ghalibaf has defended the decision to hold talks with the US, saying Iranian delegates went to Switzerland to end the bloodshed in Lebanon.
  • Central Bank of Iran Governor Abdolnaser Hemmati has denied comments by US President Donald Trump that released Iranian funds would be used to buy US farm products. Hemmati tells the Tasnim News Agency that Iran has “no obligation to buy” agricultural products from the US. He says the agreement between the US and Iran on the matter says the first $6bn can be used to buy “basic goods and medicine”.

In the US

  • Trump says Iran “will agree” to have weapons inspections and any released Iranian assets will be used to buy US produce.
  • Democrats on the Foreign Affairs Committee of the US House of Representatives have accused Trump of granting Iran sanctions relief before making progress on key issues under negotiation, including Tehran’s nuclear programme. “Trump officials repeatedly said sanctions relief would be tied to Iran addressing its nuclear program and terrorist proxies. Neither has been addressed, but the regime has been gifted sweeping sanctions relief it has dreamed of for decades,” they say in a post on X.

In Lebanon

  • A ceasefire between Israel and Hezbollah has largely held, even as fear of renewed hostilities has kept displaced people from returning home.
  • The United Nations said Sunday marked the first time its peacekeepers have detected no air attacks in Lebanon since March 2, the day the war between Israel and Hezbollah escalated and two days after the US-Israel war on Iran began.
  • Mahmoud Qamati, deputy head of Hezbollah’s political council, has warned that the Lebanese group will respond to any violation of the ceasefire by Israel, according to Iran’s Press TV. “Hezbollah remains fully alert with its finger on the trigger, ready to confront any violation by the Israeli regime,” Qamati is quoted as saying.
  • Israeli Prime Minister Benjamin Netanyahu, Defence Minister Israel Katz and Chief of the General Staff Eyal Zamir say Israeli troops will continue to occupy southern Lebanon.
  • The Israeli military will continue to “act with determination in order to neutralize threats against our soldiers and our citizens” and to demolish infrastructure belonging to Hezbollah, they say in a statement.
  • The Israeli military will also continue to “maintain the security zone in southern Lebanon”, they say, referring to the land Israel occupies there, razing buildings and forcibly displacing one million people.
  • Israel and Lebanon are to start a new round of direct talks in Washington, DC, on Tuesday.

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Algeria come from behind to win 2-1, knock Jordan out of 2026 World Cup | World Cup 2026 News

Goals from Nadhir Benbouali and Amine Gouiri steered Algeria to a 2-1 win over Jordan in Group J, completing their second-half comeback.

Algeria stormed back to beat Jordan 2-1 and eliminate the World Cup debutants with a match to spare on Monday thanks to second-half goals ⁠from substitute Nadhir Benbouali and Amine Gouiri.

Benbouali’s header cancelled out Nizar Al-Rashdan’s first-half opener, and Gouiri poked home in a goalmouth scramble eight minutes from time to revive Algeria’s campaign after their opening 3-0 loss ⁠to Argentina.

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The victory put Algeria level with Austria on three points in Group J, while ensuring defending champions Argentina will go through to the round of 32 as group winners following their 2-0 win over the Austrians earlier on Monday.

Soccer Football - FIFA World Cup 2026 - Group J - Jordan v Algeria - San Francisco Bay Area Stadium, Santa Clara, California, U.S. - June 22, 2026 Algeria fans celebrate in the stands after Amine Gouiri scores their second goal IMAGN IMAGES via Reuters/David Gonzales
Algeria fans celebrate in the stands after Amine Gouiri scores their second goal [David Gonzales/ IMAGN IMAGES via Reuters]

Algeria coach Vladimir Petkovic put veteran attacker Riyad Mahrez in his starting 11 after benching him against ‌Argentina, and he proved influential in breaking down a Jordan team that defended in numbers and was quick on the counterattack.

Mahrez blew an early chance when he ran onto a sublime lofted pass from Hicham Boudaoui but lost the ball under his feet. He then latched onto another long ball from Boudaoui to be one-on-one with Yazeed Abu Laila, but the Jordan goalkeeper got a hand to his chipped shot.

Jordan, who lost their opener 3-1 to Austria, went ahead in the 36th minute ⁠following clever link-up play and a touch of fortune when Algeria midfielder Ramiz ⁠Zerrouki turned the ball over in defence.

Mousa Al-Tamari’s shot went sideways to Al-Rashdan, who drilled home first-time into the bottom right corner.

Soccer Football - FIFA World Cup 2026 - Group J - Jordan v Algeria - San Francisco Bay Area Stadium, Santa Clara, California, U.S. - June 22, 2026 Jordan's Nizar Alrashdan celebrates scoring their first goal REUTERS/Carlos Barria TPX IMAGES OF THE DAY
Jordan’s Nizar Al-Rashdan celebrates scoring their first goal [Carlos Barria/Reuters]

Petkovic brought on Nabil Bentaleb and Benbouali at the break, and Algeria lifted their intensity.

Surrounded by Jordan defenders, Benbouali rose highest to ⁠meet a Mahrez corner and sent a glancing header bouncing into the corner of the net in the 69th minute.

Thirteen minutes later, Algeria took the lead ⁠from another setpiece.

Substitute Anis Hadj Moussa curled in a corner kick ⁠and a deflection off Jordan goalscorer Al-Rashdan allowed a gleeful Gouiri to poke in the winner.

Soccer Football - FIFA World Cup 2026 - Group J - Jordan v Algeria - San Francisco Bay Area Stadium, Santa Clara, California, U.S. - June 22, 2026 Algeria players celebrate after the match REUTERS/Carlos Barria
Algeria players celebrate after the match [Carlos Barria/Reuters]

For Algeria, it sets the stage for a grudge match against Austria, 44 years after the “Disgrace of Gijon”.

At the 1982 World Cup, Austria and West Germany were alleged to ‌have colluded in a group match against each other to ensure both would advance at the expense of eliminated Algeria.

West Germany and Austria denied wrongdoing and FIFA cleared them.

Algeria can take a measure of revenge ‌against ‌Austria when they face them in Kansas City on Saturday, while Jordan face Argentina and superstar Lionel Messi, who has scored all five of their goals at the World Cup so far.

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Last one, the best one? How Lionel Messi keeps doing it at the World Cup | World Cup 2026

Lionel Messi cemented his status as arguably the greatest football player of the modern era after sweeping aside several records as he powered his side to the round of 32 at the World Cup — the Argentinian captain’s record sixth appearance.

Messi broke the record for the highest number of goals in the history of the World Cup after scoring his team’s opening goal in their Group J match against Austria on Monday.

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He then added another in the final minutes, taking his tally to 18 goals in six tournaments to reach the top of the charts to deafening roars at Dallas Stadium in Arlington, Texas.

Austria coach Ralf Rangnick, who has revived the national side since taking over in 2022, attempted to break down the nearly 39-year-old Argentinian maestro’s work ethic.

“Lionel Messi maybe doesn’t put in the same legwork as in the past,” Rangnick said.

“He likes to stay on the side, and sometimes he likes to stop in front of the goal, in the offside position.

“That doesn’t mean that they have one man less, but they have one man less that works in the counter-pressing.

“But that makes him so dangerous, because he might be in a position, free in a position, and we need to be prepared for that.

“We shouldn’t have too many transition moments, and not allow transition moments, and not allow him to be free to accept the ball.”

‘Very angry’

That notion unravelled in front of a frenzied crowd of 70,000 dominated by Argentina fans decked out in light blue and white.

Messi pulled an early penalty wide to pass up the chance to move clear of Miroslav Klose for the most World Cup goals.

Messi said afterwards that he was “very angry” with himself, and then twice came close to scoring after that, only for Austria captain David Alaba to deny him twice.

And then came the big moment, Messi sweeping in on 38 minutes after being set up by Facundo Medina.

Just as Rangnick had warned, Messi had ambled into space and was all alone to score with a trademark swing of his left foot.

It was his 17th World Cup goal, and his 18th arrived when Messi pounced again in the fifth minute of injury time.

This time, the veteran squeezed home as several defenders threw themselves desperately at the ball.

Messi, at his sixth World Cup, was still going strong in the 95th minute.

The goals took the maestro to five at this edition, having hit a hat-trick in a 3-0 win over Algeria.

That was Messi’s first treble at a World Cup.

epa13057293 Lionel Messi of Argentina celebrates with teammates after winning the FIFA World Cup 2026 group stage match Argentina against Austria, in Dallas, USA, 22 June 2026. EPA/JEFFREY MCWHORTER
Lionel Messi of Argentina celebrates with teammates after winning the FIFA World Cup 2026 group stage match Argentina against Austria, in Dallas, USA, on June 22, 2026 [Jeffrey McWhorter/EPA]

Last Messi the best one?

Argentina coach Lionel Scaloni, Messi’s teammate at the 2006 World Cup, has built an ecosystem around Messi to allow his captain to do his thing.

That means letting others do the running around him.

Not that Messi is totally exempt from the dirty work.

“Today, when the team was struggling without possession, he put in the work,” Scaloni said.

“You could see his commitment, that speaks volumes about him.”

Renowned Spanish journalist Guillem Balague, who wrote an authoritative biography of Messi, said before the World Cup that this version of the player was “very different” from the one that burst onto the scene with Barcelona in the early 2000s.

“Messi has reinvented himself at least five times to evolve into the player he is now for Argentina and Inter Miami,” Balague wrote in a column for the BBC.

“He has adapted so he can dominate and stay ahead of a game that has always been chasing him,” he added.

He noted how Pablo Aimar, Messi’s childhood idol, once said: “The last Messi is always the best Messi.”

That version is a player who walks more than he runs, said Balague, but “still sees everything first”.

“Critics once used this [lack of running] against him. Now it reads as mastery,” he wrote.

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Haaland scores two as Norway beat Senegal 3-2, enter World Cup knockouts | World Cup 2026

Senegal fought back until stoppage time but couldn’t draw level and must beat Iraq for a chance to progress.

Erling Haaland scored his second World Cup brace in a row as Norway beat Senegal 3-2 at New York New Jersey Stadium to secure their place in the last 32.

Norway substitute Marcus Holmgren Pedersen struck late in the first half, before Haaland doubled the lead shortly after the break in the Group I fixture on Monday.

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Ismaila Sarr cut the deficit for Senegal, only for Haaland to punish more slack defending as Norway progressed to the knockout rounds with a game to spare, despite a late consolation from Sarr.

Manchester City forward Haaland now has four goals in two games at the tournament, hot on the heels of Lionel Messi’s double earlier in the day, which carried him to a record 18 World Cup goals. Not to be outdone, Kylian Mbappe scored another brace, too, as France beat Iraq 3-0.

Norway have lost only once in their last 18 matches and will take on France in a compelling battle for top spot in the group in Boston on Friday.

Senegal must beat Iraq, who are also without a point, in their final game to stand a chance of avoiding an early exit.

Led by the unstoppable Haaland, who increased his astonishing international goals tally to 59 in 52 games, Norway recorded back-to-back wins at the World Cup for the first time.

They added weight to the belief they can do serious damage at these finals with a dominant display against a Senegal side that paid heavily for their errors.

Norway quickly set the tone as Kristoffer Ajer’s header forced Senegal goalkeeper Edouard Mendy into a terrific save with his legs at a corner, but they lost full-back Julian Ryerson to injury early on.

Captain Martin Odegaard skied over an inviting cut-back from the right for Norway, as Nicolas Jackson looked to be Senegal’s most dangerous threat.

Mendy again came to Senegal’s rescue with a superb block to deny Odegaard, after Haaland cushioned down Antonio Nusa’s chipped cross into the box.

But Mendy allowed Pedersen’s low drive to creep under him after a dreadful mistake from skipper Kalidou Koulibaly gave the ball to the replacement right-back on the edge of the box.

Haaland rolled against the post from a tight angle after Mendy got in a tangle, but he made amends three minutes into the second half as Norway sliced Senegal apart on the counterattack.

Odegaard surged upfield and slid a pass through to Haaland, who buried an emphatic finish past Mendy to add to the two goals he scored in Norway’s opening 4-1 victory over Iraq.

Senegal clawed their way back as Sarr showed great composure to poke home after tumbling to the ground following a clever flick into the area by Sadio Mane.

However, Koulibaly was at fault once more, failing to clear as Haaland steered a volley in off the crossbar from Patrick Berg’s cross, delighting Norwegian fans, who provided a colourful backdrop with their viral, rowing chant.

Soccer Football - FIFA World Cup 2026 - Group I - Norway v Senegal - New York/New Jersey Stadium, East Rutherford, New Jersey, U.S. - June 22, 2026 Norway fans do the traditional rowing celebration in the stands REUTERS/Dylan Martinez TPX IMAGES OF THE DAY
Norway fans perform their traditional rowing celebration in the stands [Dylan Martinez/Reuters]

Mory Diaw came on for the injured Mendy in goal, but only a headed goal-line clearance from Pathe Ciss prevented Oscar Bobb from netting Norway’s fourth.

Sarr’s second of the night set up a tense finish, but Norway held on to join France in the next round and leave Senegal’s hopes hanging by a thread.

Sarr also became the first Senegalese player to score at two different World Cups.

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Alan Greenspan, former US Federal Reserve chairman, dies at 100 | Financial Markets

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Alan Greenspan, former US Federal Reserve chairman, dies at 100

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Alan Greenspan, one of the most influential economic policymakers in modern US history, has died aged 100. Greenspan led the Federal Reserve for nearly two decades under four presidents, overseeing a long period of economic growth but also faced criticism linked to the 2008 financial crisis.

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Belgium’s Doku welcomes son during World Cup amid commentator controversy | World Cup 2026

Doku travelled to the UK as a French presenter who said fathers are ‘useless’ at childbirth was stood down from her show.

Jeremy Doku has become a father, the Belgian Football Association announced, days after the player’s plans to leave the FIFA World Cup to attend his child’s birth sparked controversy.

After consultations with medical staff, Doku was allowed to temporarily leave the Red Devils before last Sunday’s game with Iran to join his wife in London, where the couple welcomed a baby boy, Praise, the federation said on Monday.

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“Jeremy received the news before yesterday’s match that the birth was imminent,” the team’s doctor, Brahim Hacene, said.

Doku had already been ruled out of Sunday’s match due to illness.

“As he had already been receiving the appropriate medical treatment for several days, he was able to fly without any medical risk to be with his family during this very special moment,” the doctor said.

“Mother, father, and baby are all doing wonderfully,” he added.

Doku, who is to rejoin his teammates in Seattle on Tuesday, is regarded as one of the best young players in the Belgium squad, who have made a solid if unspectacular start to their campaign, drawing both their matches so far.

The 24-year-old had made it clear before the Red Devils’ first match that he would have wanted to be there for the birth of his first child, drawing criticism from some quarters.

A presenter on L’Equipe TV, the channel of the historic French sports newspaper, questioned the decision, saying that fathers were “useless” at childbirth, whereas hundreds of footballers would have killed to play in a World Cup.

The comments triggered an online storm, forcing L’Equipe to apologise and distance itself from them. The presenter has been stood down from her show.

Doku started in Belgium’s first match against Egypt, but struggled to make an impact before being replaced.

The lacklustre scoreless draw against Iran in Los Angeles drew scorn from Belgian media, which lambasted the team’s performance.

Belgium, who are rebuilding after their “golden generation” showed that age had caught up with them in exiting at the group stage in the 2022 World Cup, can assure themselves of progressing to the last 32 with a win over New Zealand in their final group match on Friday.

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Egypt denied flight to Seattle ahead of final World Cup group match | World Cup 2026 News

Egypt’s team will return to their training base in Spokane, about 450km east of Seattle, after rejected flight.

The Egyptian FIFA World Cup team’s plan to fly directly from Vancouver to Seattle ahead of their final group match against Iran was declined by local security officials, coach Hossam Hassan has said.

“The security authorities refused the team’s request to stay in the city of Seattle as planned after the New Zealand match in the World Cup, and therefore the team’s delegation will return to the city of Spokane,” Hossam said in a statement released by the Egyptian Football Association on Monday.

The Egyptian team had submitted a request to remain in Seattle this week, but will now return to their training base in Spokane, about 450km (280 miles) east of Seattle, according to a report by the Daily Mail.

Egypt posted their first-ever World Cup victory on Sunday over New Zealand in Vancouver. Mohamed Salah scored as Egypt rallied from a goal down to win 3-1.

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Qatar PM on preventing US-Iran talks from escalation | US-Israel war on Iran

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Qatar’s PM Sheikh Mohammed bin Abdulrahman Al Thani told Al Jazeera that safeguards have been put in place to prevent US-Iran negotiations from regional escalation, including tensions in Lebanon and the Strait of Hormuz, stressing diplomacy and respect for agreements.

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China adds 10 US firms, including rare-earth miner, to export control list | International Trade News

China has added 10 United States-based companies to its export control list and barred government procurement from nearly 50 US companies two weeks after the Pentagon blacklisted some of China’s best-known companies for their alleged ties to the Chinese military.

China’s Ministry of Commerce announced the export order on Monday, barring Chinese companies from exporting “dual-use” items that can be used for civilian or military purposes to the US firms.

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The list of companies includes rare-earth mine operator MP Materials Corp, rare-earth magnet maker USA Rare Earths, and US defence contractors specialising in fields such as aerospace, drones, synthetic-aperture radar, and shipbuilding and repairs.

Under the order, “foreign institutions and individuals worldwide are also prohibited from transferring or providing Chinese dual-use goods to them” while ongoing export transactions must be suspended immediately.

The Commerce Ministry said the export ban had been issued to “safeguard national security and interests and fulfil international obligations such as non-proliferation”.

China’s Ministry of Finance on Monday separately barred Chinese government procurement from 46 companies, including subsidiaries of major US defence contractors like Lockheed Martin, Boeing, General Atomics and General Dynamics. US-funded, locally registered companies, however, have been given an exemption by the ministry.

Experts described Beijing’s orders as a retaliation, albeit a largely symbolic one, against the US after the Pentagon in early June added about 80 Chinese companies and their subsidiaries to its list of “Entities Identified as Chinese Military Companies Operating in the United States”.

The designation means the Pentagon either believes the companies are owned or controlled by the Chinese military or they are “military-civil fusion contributors”, a term for commercial companies that contribute to China’s military development despite their civilian status.

The updated list includes Chinese e-commerce giant Alibaba Holdings, search engine giant Baidu and electric automaker BYD, some of China’s largest and best-known companies.

While the order does not bar US companies from doing business with them, it does impact US defence contractors and their future supply chains.

“We can interpret this as a tit-for-tat response, and that fits into China’s playbook any time we’ve seen escalation from the US side in terms of trade and investment tools,” said Nick Marro, global trade lead analyst at the Economist Intelligence Unit.

China-based supply chain consultant Cameron Johnson said the Commerce Ministry’s order mirrors US semiconductor export controls designed to keep the most advanced chips out of Chinese hands.

“They basically say it doesn’t matter where or who you are, you are bound by this regardless of circumstance,” said Johnson, who is also a senior partner at the Shanghai consultancy Tidal Wave Solutions. “Organisations or individuals in any country or region are prohibited from transferring dual-use materials that originated in China.”

He said Beijing’s orders in practice may be hard to enforce and many of the companies named in those orders have already moved their supply chains out of China or begun to “de-risk” their operations there.

Johnson said the wide scope of companies included in Washington’s and Beijing’s directives could be a sign of more to come and may signal a new front in the US-China trade war.

“This is probably just the beginning of the back and forth,” he said. Last year, after returning to the White House for a second term, US President Donald Trump reignited the US-China trade war, leading Washington and Beijing to impose escalating rounds of tariffs on each other.

Trump and Chinese President Xi Jinping agreed to a trade truce in October, which was extended during a summit between the two leaders in Beijing in May.

Despite promises to “enhance economic cooperation” during the meeting, observers like Singapore-based geopolitical analyst Steve Okun predicted the goodwill may be short-lived.

“The US’s recent closure of chip export loopholes and China’s continuing addition to its export bans show the national security lane remains active in both capitals regardless of the diplomatic niceties at the recent Trump-Xi summit,” Okun told Al Jazeera.

“There is no ‘truce’ in the US-China trade war. Expect further actions from both sides as well on export controls and investment restrictions,” he said.

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JD Vance touts progress on key issues in US-Iran negotiations | Conflict

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US Vice President JD Vance has touted significant progress in talks with Iran over its nuclear programme and Israel’s war on Lebanon, while refusing to commit to an Israeli withdrawal from Lebanese territory. He said Trump is trying to bring ‘permanent peace’ to a region that’s been ‘a basket case for a long time’.

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Why Coca-Cola and the US taxman are at war over a $20bn tax bill | Tax News

Coca-Cola and the Internal Revenue Service (IRS) of the United States will face off in a Florida court this week in the latest episode of a decades-long legal battle over the beverage giant’s tax liability on overseas profits.

The Atlanta, Georgia-based company and the US tax service will begin oral arguments on Thursday in a dispute that centres on transfer pricing – the practice of setting prices for transactions carried out between a company’s own affiliates – and could result in Coca-Cola facing a tax bill of about $20bn.

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The case is being closely watched in corporate circles because the outcome will have implications for the amount of tax US-based multinational corporations must pay on income generated through their foreign subsidiaries.

What is the case about?

Coca-Cola is appealing a 2020 US Tax Court ruling that upheld the IRS’s finding that the soft drink giant underreported profits from transactions between its foreign subsidiaries.

In 2015, the IRS notified Coca-Cola that it owed billions in back taxes after concluding that the company had undercharged its units in Ireland, Brazil, Chile, Mexico, Costa Rica, Egypt and Eswatini, formerly known as Swaziland.

US multinationals often charge low licensing fees for their overseas units to minimise their reportable income in the US, which has a higher corporate tax rate than many of its peers.

“The IRS audited Coca-Cola because the company was earning astronomical profits in Ireland and a few other countries,” Alex Martin, an expert in transfer pricing at the tax consulting firm KBKG, told Al Jazeera.

The IRS first took Coca-Cola to court in 2015, but the origins of the dispute date back to 1996 when the two sides settled a tax audit for liabilities from 1987 to 1995.

Under the pricing formula agreed in that settlement, Coca-Cola’s foreign affiliates were allowed to retain a profit equal to 10 percent of their gross sales with the remaining income split evenly between the US headquarters and the overseas unit.

Coca-Cola argues that it should be able to continue to use this formula from 1996 while the IRS contends the terms of that settlement should have no bearing on the soft drink giant’s tax liabilities arising from audits in 2007, 2008 and 2009.

“The amount of potential exposure is about $20bn, so it is significant,” Reuven Avi-Yonah, an expert in taxation law at the University of Michigan Law School, told Al Jazeera.

Coca-Cola agreed to pay the IRS $6bn in back taxes and interest in 2024 while preparing its appeal but could be liable to pay up to $14bn more if the US Court of Appeals for the Eleventh Circuit sides with the government.

Coca-Cola argues that the IRS “misinterpreted and misapplied the applicable regulations” and has expressed its confidence that it will be successful in its appeal.

Why does the case have implications beyond Coca-Cola?

The case is important because it could serve as a template for the US government to raise more tax revenue from large multinational companies that generate huge profits overseas.

“The IRS designated this case for litigation because this litigation can provide a template for the IRS to audit other US companies with highly profitable subsidiaries,” Martin said.

Under the administration of former US President Joe Biden, the IRS ramped up its tax collection efforts against companies benefitting from transfer pricing arrangements.

In one of the most high-profile transfer pricing cases in recent years, the IRS announced in 2023 that Microsoft owed $28.9bn in back taxes, plus penalties and interest, on income derived from the distribution of software through its subsidiaries in Puerto Rico, Ireland and Singapore.

Microsoft said it disagreed with the IRS’s reasoning and would appeal to the tax service and, if that failed, go to court.

In 2024, the IRS announced that the short-term rental platform Airbnb and Newell Brands, a consumer products manufacturer, had underpaid their taxes to the tune of $1.33bn and $90m, respectively.

Airbnb and Newell Brands have both challenged the IRS’s determinations in the US Tax Court.

The Coca-Cola case is particularly significant because the IRS has historically fared poorly in litigating transfer pricing complaints, losing a string of cases against major corporations through the decades, including Bausch & Lomb, US Steel Corp and Hospital Corp of America.

“It is important because it is the first clear victory of the IRS in this kind of case involving profit shifting out of the US in many decades, so if it is upheld on appeal, more companies may be inclined to settle rather than litigate,” Avi-Yonah said.

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US, Iran agree on ‘roadmap’ towards final deal in Switzerland talks | News

The first round of talks between high-level officials from Iran and the United States in Switzerland has ended, mediators say, with the two sides agreeing on a roadmap towards a final deal to end their more than 100-day war.

Iran and the US agreed to set up communication lines to keep the vital Strait of Hormuz open and end fighting in Lebanon at the marathon talks that ended on Monday, according to mediators.

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The teams, led by US Vice President JD Vance and Iranian parliament Speaker Mohammad Bagher Ghalibaf, opened talks on Sunday as part of a two-month negotiating period set out under a preliminary deal agreed last week.

Mediators Pakistan and Qatar said the negotiators reached agreement on a “roadmap towards reaching a final deal within 60 days” with technical talks to continue for the rest of the week at the Swiss resort of Burgenstock.

“Encouraging progress has been made, including the creation of a mechanism for further technical talks,” they said, detailing a contact channel set up to “avoid incidents and miscommunication” over the Strait of Hormuz.

A “deconfliction cell” between the parties and authorities in Lebanon has also been agreed to prevent fighting from erupting there again, they said.

Al Jazeera’s Osama Bin Javaid, reporting from Lucerne, Switzerland, said mediators hailed the constructive engagement, adding that the working groups formed by the negotiators are to begin work immediately.

“A lot of work still remains to be done, and it is not yet clear how these groups will be formulated, in which capacity they will work or what format any future meeting will take,” he said.

Tehran essentially had blocked the Strait of Hormuz in retaliation against the joint attacks by Israel and the US on February 28 that touched off the war.

Lebanon was pitched into the conflict as Iran-aligned Hezbollah attacked Israel in response to the US-Israeli attacks on Iran, prompting Israel to launch a wide-scale bombing campaign and ground invasion of southern Lebanon.

After a series of false starts, Washington and Tehran last week finally signed a memorandum of understanding aimed at ending the war, which included a provision to end fighting in Lebanon between Israel and Hezbollah.

But there have been repeated clashes and Israeli attacks in Lebanon since, which prompted Iran to say days after it had reopened the Strait of Hormuz that it would again close the waterway, through which about a fifth of global oil and liquefied natural gas supplies transited before the war.

“Tireless Pakistani and Qatari mediation has delivered major progress to end Lebanon War,” Iranian Foreign Minister Abbas Araghchi wrote on X after the talks in Switzerland.

“Oil and petrochem exports are waived, blockade lifted, some frozen assets released, and major reconstruction & development plan launched for Iran. 1st real test: Lebanon deconfliction cell,” he wrote.

Al Jazeera’s Resul Serdar Atas, reporting from Tehran, said Iran achieved most of what it wanted in the talks in Switzerland because it had conditions for starting the technical talks.

“They were saying that the memorandum of understanding – particularly Articles 1, 10 and 11 – had to be initiated and implemented for the technical talks to move forward,” he said, referring to the sections on ending fighting on all fronts, including Lebanon; waiving US sanctions on Iranian energy exports; and releasing frozen Iranian assets.

“So now that they have decided that technical talks in Switzerland are going to continue throughout the whole week, we see that there is progress,” he added.

Trump’s threats

The roadmap was agreed after a shaky start to the negotiations. Iran’s delegation walked out in response to US President Donald Trump’s threats on Sunday to attack Iran over its support for Hezbollah.

“Iran must immediately stop their highly paid PROXIES in Lebanon from causing trouble,” Trump wrote on social media, apparently referring to Hezbollah. “If they don’t, we’ll hit Iran very hard again, just like we did last week, only harder!!!”

Iran hit back with a warning of its own.

“They would do better to be careful with their statements; our armed forces are ready to respond to them in a different manner. No matter what they say, we are the ones who act,” Iran’s chief negotiator, Ghalibaf, said.

Israeli Prime Minister Benjamin Netanyahu, meanwhile, said Israeli troops would remain in southern Lebanon “as long as necessary” and promised that he would “not allow Iran to acquire nuclear weapons”.

By Sunday evening, there had been no reports of Israeli attacks or continued fighting as some residents of southern Lebanon cautiously returned to their homes.

The fighting between Israel and Hezbollah has repeatedly threatened to derail peace efforts.

On Friday, planned US-Iranian talks were postponed after Israel launched deadly attacks in Lebanon following the deaths of four of its soldiers in combat.

Israel’s military chief visited troops on Sunday in southern Lebanon, where he said Hezbollah was in a “very difficult position”.

“Hezbollah has suffered a severe and significant blow, and we are committed to remaining prepared to continue operating and prevent its rebuilding,” Lieutenant General Eyal Zamir said.

The overall death toll from the fighting in Lebanon has surpassed 4,100 since it escalated on March 2, the Ministry of Public Health said.

‘Historic meeting’

Vance had earlier hailed “a historic meeting” in Switzerland.

Even as Trump was threatening Iran, Vance told reporters the US president had “asked us to turn over a new leaf to transform our relationship with the people of Iran”.

Flanked by US negotiators Jared Kushner and Steve Witkoff, Vance added: “The question before us now is how much more can we accomplish together?

“Can we turn over a new leaf? Can we change relations in the Middle East permanently?

“Or do we go back to doing things the old way, which is not our preference, but it’s certainly very much something that can happen.”

Lebanon aside, there has been no indication that Iran’s support for armed groups across the region, which has long drawn the ire of the US and Israel, would be addressed in the negotiations.

Speaking on Sunday, Iranian President Masoud Pezeshkian stressed that Tehran would not relinquish its right to enrich uranium although he repeated Iran’s denial that it seeks nuclear weapons.

“We can also state in writing that we have no intention of building a bomb,” he said.

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Mohamed Salah scores as Egypt beat New Zealand for first World Cup win | World Cup 2026

Salah led Egypt to their first victory in the country’s 92-year tournament history against New Zealand.

Liverpool star Mohamed Salah scored his first goal of the tournament as part of a second-half flurry to deliver Egypt their first-ever World Cup victory, 3-1, over New Zealand in Vancouver.

Both Salah and Mostafa Zico bagged a goal and an assist apiece as Egypt rallied from a 1-0 half-time deficit and took over first place in Group G on Sunday. Trezeguet scored Egypt’s third goal for late insurance.

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Salah celebrated his 68th international goal by pumping his fist before he was mobbed by his teammates in the 67th minute to the delight of the red-clad Pharaohs fans in the sellout crowd at BC Place, Vancouver.

When Salah was substituted in the 85th minute, he was treated to a standing ovation.

The first three matches of Group G ended in draws, including Belgium and Iran posting a scoreless tie earlier on Sunday, leaving the group open for the taking. New Zealand (0-1-1, 1 point) thought they were on that path after Finn Surman’s headed goal off a 15th-minute set piece gave them a lead they held for nearly half the match.

Egypt will finish the group stage against Iran on Friday, all but assured of advancing to the knockouts no matter the result. New Zealand, still seeking their own first World Cup win, will take aim at Belgium on the same day in their hopes of advancing.

Mostafa Shoubir made four saves for Egypt, while Max Crocombe recorded four for New Zealand.

New Zealand earned their go-ahead corner kick when Elijah Just had a strong effort on target, and Shoubir sent it out of bounds.

Tim Payne’s ensuing corner found Surman in space. Surman’s jumping header went past a helpless Shoubir to give the All Whites the lead.

Egypt had a promising look in the 35th minute on a free kick from the edge of the box after Callum McCowatt picked up a yellow card for a poor tackle. A teammate laid the ball off for Salah, whose attempt on goal missed to the left.

Egypt had more control and more of the chances in the second half, starting immediately when Salah pressured Crocombe into a save less than 40 seconds in.

But the Pharaohs finally broke through in the 58th minute. Mohamed Hany landed a perfect cross for Zico, whose header near the 6-yard line struck Crocombe’s glove on its way in.

Salah’s turn came nine minutes later. Zico connected with Salah up the right side on a transition play. He dribbled around his man into the box and tapped a pass ahead to Zico, who back-heeled it into a pocket of space for Salah to finish with a left-footed shot to the bottom-left corner.

Trezeguet wrapped up the match in the 82nd minute on another header from a corner kick. Salah sent in a low offering, and Trezeguet was unmarked as his diving header bounded in. It was Trezeguet’s 24th career goal in an international competition and his first at a World Cup.

“In years to come, we will remember that this was one of the achievements in history,” Salah said.

He praised the large Egyptian contingent in the crowd, saying: “It feels like we are playing in Egypt. It’s a great win and great vibe.”

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‘Encouraging progress’ made as first round US-Iran talks end | US-Israel war on Iran

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The first round of US-Iran talks has ended with both sides agreeing on a roadmap towards a final deal to be reached ‘within 60 days’. Iran said the negotiations resulted in waivers for oil exports and the release of some frozen assets. The parties have also agreed to a ‘de-confliction cell’ to monitor the ceasefire in Lebanon.

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Cape Verde fight back for second World Cup draw 2-2 against Uruguay | World Cup 2026

Uruguay could need a win over Spain next weekend to avoid a second consecutive FIFA World Cup group-stage exit.

World Cup debutants Cape Verde scored a second-half equaliser to salvage a 2-2 draw against Uruguay in Miami, backing up their shock opening stalemate with Spain.

Cape Verde took a surprise 21st-minute lead as Kevin Pina scored their first World Cup goal from a free-kick, only for Uruguay to strike twice shortly before half-time through Maxi Araujo and Agustin Canobbio.

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But 40-year-old Uruguay goalkeeper Fernando Muslera’s mistake allowed Helio Varela to grab Cape Verde’s second just after the hour mark, and neither side could find a winner on Sunday.

Cape Verde boosted their hopes of reaching the knockout phase with their second point in Group H.

The African island nation face Saudi Arabia, thumped 4-0 by Spain earlier on Sunday, in their final group game next Saturday, knowing that victory would secure a last-32 berth.

Two-time world champions Uruguay’s hopes of progressing are in serious danger, though, after again being held by lower-ranked opposition following their 1-1 draw with the Saudis.

The South Americans may need to beat European champions Spain next weekend to avoid a second consecutive World Cup group-stage exit.

Uruguay coach Marcelo Bielsa made two changes to the team, which were held by Saudi Arabia, with Al Hilal striker Darwin Nunez dropping to the bench.

Bubista opted for three alterations to his Cape Verde team, all in attacking positions.

Cape Verde started with more intent going forward than they were able to show against Spain, but it was still Uruguay who created the first real opening, when Federico Valverde drilled a left-footed shot wide.

But the tournament debutants forged ahead when Pina crashed a long-range free kick through a poor Uruguay wall and past Muslera.

Uruguay were in desperate need of their equaliser when it arrived in the 44th minute.

Cape Verde’s Sidny Lopes Cabral headed the ball against his own post under pressure from Rodrigo Bentancur, and Araujo stooped to nod in the rebound, with Cape Verde goalkeeper Vozinha stranded.

They completed the turnaround in the sixth minute of first-half added time, as Canobbio turned in Araujo’s header across goal on the volley.

Uruguay appeared in control early in the second half, until Muslera inexplicably raced out of his goal in the 61st minute and Cape Verde substitute Varela took full advantage to roll the ball into an empty net after an excellent first touch.

Vozinha, the hero of Cape Verde’s draw with Spain, fumbled to allow Araujo to tap in, but his blushes were spared by an offside flag.

Real Madrid midfielder Valverde blazed a late free kick over the bar from just outside the box, leaving Uruguay on the brink of a hugely disappointing exit.

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Iranians gather in Tehran to support team in critical draw against Belgium | US-Israel war on Iran

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Iranian fans in Tehran watched their team secure a 0-0 draw against Belgium at the World Cup in Los Angeles, keeping hope alive for an unprecedented chance at the second round. Iran competes under strict US travel restrictions, which forced them to fly back to Mexico within hours of the draw, rather than remaining overnight for recovery.

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Belgium see red in goalless World Cup draw with Iran in Los Angeles | World Cup 2026

Nathan Ngoy sent off for hauling down Mehdi Taremi, whose first-half strike was called offside, in a close Group G match.

Belgium were held to a scoreless draw by Iran in a frustrating encounter that saw the Red Devils reduced to 10 men and facing the possibility of group-stage elimination for a second consecutive World Cup.

A star-studded, though ageing, lineup, including Kevin De Bruyne and Romelu Lukaku, was fortunate to leave Los Angeles with a point on Sunday.

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Belgium controlled possession yet ceded the game’s best chances to a resolute Iranian defence.

Iran’s Mehdi Taremi had the ball in the net from a well-worked first-half free kick that was overturned for offside by VAR, while Nathan Ngoy was sent off after the break for hauling down the striker following a badly mishit back-pass.

The result means all three games in Group G so far have ended in draws. Stuck on two points, Belgium at least have the comfort of playing the tournament’s lowest-ranked team, New Zealand, in their final group game.

Iran will also need at least a point against Egypt next Friday. Having been frustrated by visa issues while travelling from their base camp in Mexico to play games in the United States, Team Melli will hope to focus on the football as travel restrictions are reportedly easing for their crucial trip to Seattle.

For the second Iran game running, protesters from Los Angeles’s large Iranian-American community gathered at the stadium to chant against the country’s current regime.

Inside the stadium, Iran’s anthem again drew a chorus of boos and whistles, a reception at odds with the response to the players themselves, who were loudly cheered throughout the game.

Having switched to a back five, Iran sat deep in the first half, allowing Belgium to dominate possession and play hundreds of passes around their penalty area without creating any clear-cut opportunities.

Target man Lukaku, back in the starting lineup after making an impact from the bench in Belgium’s 1-1 draw with Egypt, managed a solitary headed effort in the 36th minute, which sailed over the bar.

Iran had the first half’s two best chances, entirely against the run of play. Hossein Kanani’s low shot after a long throw was well saved by an outstretched Thibaut Courtois.

And Iran’s star striker Taremi had the ball in the net midway through the half after a cleverly worked free kick, but it was ruled offside.

The former Inter Milan man spun away from Belgium’s wall, swivelled and buried the ball, before VAR overruled the effort, to the dismay of a vocally pro-Iran crowd.

After the break, Belgium continued to huff and puff, while Taremi again nearly scored at the other end. Courtois did well to save after Kanani had flicked on a long throw to the Iran forward.

Belgium coach Rudi Garcia made a triple substitution around the hour mark, and his side immediately came close – Maxim De Cuyper’s point-blank effort from De Bruyne’s cut-back was well saved.

Substitute Hans Vanaken blasted a shot from a rebound well over the bar moments later, as the Red Devils finally began to knock on Iran’s door in earnest.

But disaster struck for Belgium as Ngoy was sent off. The centre-back had badly under-hit a pass back to Courtois and raised his arm into Taremi as the striker raced through on goal.

The game settled into a nervous, scrappy stalemate, though De Cuyper again came close with a low effort from just outside the box.

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