[News Direct] Negotiations Broke Down! Iran Clings to $6 Billion, Challenges International Inspections
Beijing Time: 2026-07-01 02:28
Hello audience, welcome to 'News Direct'. Today is Monday, June 29, Eastern Time.
Today's focus: US-Iran negotiations take a turn; Iran clings to $6 billion; US pharmaceutical companies investigated over involvement with Chinese military hospitals; Bessent reveals reason for Iran's return to negotiations; CITIC rushes to deny rumors, but the building crash mystery deepens; US Supreme Court issues three major rulings in one day; Henan's three consecutive political-legal kings all sentenced.
[US Envoy Arrives in Doha but No High-Level Meeting; Iran Demands $6 Billion First]
The next round of negotiations between the US and Iran is again fraught with uncertainty. President Trump's special envoy has arrived in Doha, but the two sides will not hold face-to-face high-level talks this round. Iran, meanwhile, takes a tough stance, insisting that it must first receive the released frozen assets before opening final negotiations.
Qatar's Foreign Ministry confirmed Tuesday that President Trump's special envoy Witkoff and his son-in-law and adviser Kushner arrived in Doha that day and met with Qatari mediators.
However, the Qatari Foreign Ministry spokesperson made clear that there will be no high-level meeting between Washington and Tehran this round. This week, both sides will mainly engage in 'technical negotiations' on regional security and other issues, with the possibility of upgrading to higher levels later depending on the situation.
This statement differs from earlier expectations from the White House. The White House said Monday that Kushner and Witkoff would hold a 'high-level meeting' while technical discussions proceed simultaneously.
President Trump himself expressed skepticism Monday about whether the Doha talks would yield results, saying: 'The Doha meeting may be very important, or it may not be. We'll see.'
Qatar, the mediator, revealed that negotiations are currently advancing on three tracks: the nuclear issue, economic and state capacity issues, and regional security. The spokesperson also confirmed that the key $6 billion of frozen Iranian funds have not yet been transferred to Tehran.
Iran said that 'no meetings at any level with the US are scheduled for the coming days.' Iran's Foreign Ministry emphasized that they will only participate in dialogues hosted by Qatar, the mediating country, to implement the interim agreement with the US.
Analysts point out that Tehran's emphasis on 'releasing assets as the core of the interim agreement' hints that if the $6 billion is not secured, it will not enter final peace negotiations with the US.
In diplomatic and regional security matters, Iran is acting aggressively.
Iran directly challenged IAEA Director General Grossi, warning him to stop making political statements that 'resemble election campaigning' and focus on his duties.
Iran also stated that control of the Strait of Hormuz does not require external interference, and foreign involvement will only complicate the situation. It also clarified that there are only political communication channels between the US and Iran, no military hotline.
Iran even extended its discontent to sports, complaining that its national football team faced 'the most severe politicization treatment' and hostility from the US side during the World Cup.
As the standoff between the US and Iran over financial aid and control of the strait continues, diplomatic negotiations in Doha are facing an extremely difficult tug-of-war at the technical level.
Next, let's look at a set of briefs:
[Indian Refinery Fire Injures Over 20; Suspected to Be Related to Oil Theft]
Local time today (June 30), a massive fire broke out at an oil refinery in West Bengal, India, injuring over 20 people, five of whom are in serious condition. Railway facilities were also affected, and some train services were temporarily suspended.
Thick smoke billowed into the sky. Fire departments deployed 12 fire trucks to extinguish the blaze. Preliminary investigations suggest the fire may have originated near a site suspected of illegally siphoning naphtha. Due to the high flammability of naphtha, whether a pipeline leak caused the fire remains under further investigation.
[US Supreme Court Allows States to Ban Transgender Athletes from Women's Sports]
The US Supreme Court today ruled in favor of West Virginia and Idaho, upholding laws that ban transgender student-athletes from participating in women's sports.
The Court held that public school sports teams may be divided based on biological sex, and students who are biologically male may be prohibited from joining women's sports teams.
This ruling also provides legal grounds for other states to implement similar regulations. Currently, 25 states across the US have passed similar laws.
[US Supreme Court Strikes Down Limits on Campaign Spending Coordination]
In a second major ruling today, the US Supreme Court ruled 6-3 that federal limits on coordination campaign spending between parties and candidates are unconstitutional.
The majority of justices found that such restrictions violate free speech rights under the First Amendment of the US Constitution, and therefore no spending caps can be set. This ruling comes as the country heads toward the November midterm elections and has drawn significant attention.
[US Supreme Court Upholds Injunction Against Trump's Birthright Citizenship Order]
The US Supreme Court today also ruled on birthright citizenship, upholding a lower court's injunction by a 6-3 vote, meaning President Trump's executive order restricting birthright citizenship remains blocked.
The executive order stipulates that children born in the US to parents who are neither US citizens nor lawful permanent residents do not automatically acquire US citizenship.
[Bessent: Beijing Becomes Only Oil Buyer, Iran Forced Back to Negotiating Table]
Today (June 30), US Treasury Secretary Scott Bessent said in an interview with Fox News that a key reason Iran is now willing to negotiate with the US is that it has become increasingly difficult to sell oil.
He said Iran now has only one buyer left—Beijing—and sales are at a discount. Other countries, fearing the resumption of US sanctions, mostly dare not buy Iranian oil. Growing economic pressure has forced Tehran back to the negotiating table.
Bessent also called on gas stations across the US to lower prices as quickly as possible ahead of this Saturday's 250th anniversary of America's founding, warning: 'We're watching you.'
He said international oil prices have already fallen, and gas stations should pass the reduction on to consumers. Whether large oil companies, independent stations, or convenience store chains, everyone should take responsibility.
In fact, President Trump posted a warning yesterday demanding that gas stations immediately lower prices, hoping to bring the price per gallon down to about $2.50. He said international oil prices have dropped to about $68 per barrel, but retail prices haven't followed, and that profiteering will lead to 'big trouble.'
Trump also specifically criticized states like California with high fuel taxes, saying high tax burdens push prices higher and cost the public extra money.
At the end of February, after the US and Israel jointly struck Iran, tensions in the Middle East spiked and international oil prices rose rapidly. However, this month, the US and Iran reached a preliminary agreement, restoring navigation through the Strait of Hormuz. Market concerns about oil supply have noticeably eased, and prices have fallen steadily.
Now, the market is also watching the new round of US-Iran talks. International oil prices are expected to post their largest quarterly decline since the early days of the pandemic.
US West Texas Intermediate (WTI) crude is set for a second consecutive monthly decline, falling about 19% in June. Brent crude is expected to fall for a third consecutive month, dropping about 20% in June. Both major oil prices have returned to pre-Middle East war levels, and as more tankers resume passage, market supply concerns continue to ease.
[US Pharmaceutical Giants Under Investigation Over Ties to Chinese Military Hospitals]
A bipartisan group of US lawmakers formally launched a national security investigation this Monday. The probe targets two global pharmaceutical giants—Merck and AbbVie—to determine whether their clinical trials in China have involved and aided the capabilities of the Chinese Communist Party's military.
According to Reuters, the US House Select Committee on China has sent deadlines to the two companies, requiring them to submit detailed information on their due diligence at trial sites in China, data protection procedures, and other security standards by July 17. Sites in Xinjiang and military hospitals affiliated with the Chinese military are the focus of this national security investigation.
According to data released by the committee, the two US pharmaceutical companies have a large clinical R&D presence in China.
Since 2005, Merck has funded or collaborated on 224 clinical studies in China, including at least 31 trials in Xinjiang and 40 trials at medical centers and hospitals linked to the Chinese military.
Since 2007, AbbVie has funded or collaborated on over 100 clinical studies in China, including at least 17 sites in Xinjiang and 16 sites at military centers.
In their letters, the lawmakers noted records showing lapses in obtaining 'informed consent' from trial participants in China, questioning ethical risks at the Xinjiang sites.
They also emphasized that conducting these studies at Chinese military hospitals poses potential risks of transferring US companies' cutting-edge biotech intellectual property to the Chinese military.
The committee stated in its letters to the CEOs of both companies that while there is no evidence of illegal activity or misconduct by the companies, conducting such trials in China exposes US companies to ethical and security risks.
The letters also cited industry research showing that in recent years, China has surpassed the US in the number of clinical trials.
From 2015 to 2024, the US share of global early-stage drug development projects fell from 48% to 37%, while China's share surged from 8% to over 32% in the same period.
The lawmakers believe that through regulatory reforms and state subsidies, China has become the cheapest and fastest place in the world for early-stage human drug trials.
In response to the investigation, Merck stated that patient safety and ethical integrity are the top priorities of its clinical research programs, and that its operations in China follow all global guidelines. AbbVie declined to comment.
[Did 'Liu Junhua' Fly a Plane into a Building? CITIC Video Denies Rumors but Suspicion Remains]
On Monday, CITIC Bank's wealth management arm, Xinyin Wealth Management, released a business work video of its executive Liu Junhua. This move was seen by outsiders as an attempt to refute rumors of a small plane crashing into the CITIC building last week. However, the video did not fully dispel public doubts.
The video, titled 'Dialogue with Xinyin Wealth Management Liu Junhua: Building a Complete Capability Pyramid for 'Fixed-Income+',' explicitly marked Monday's date in the upper right corner. This followed an incident on June 26 (last Friday) when a small plane struck the CITIC building (China Zun). Online messages from industry insiders claimed that the pilot of the crashed plane was named 'Liu Junhua,' and coincidentally, a wealth management company under CITIC had an executive with the same name. The striking coincidence quickly sparked speculation of an 'employee flying a plane into the company's headquarters.'
Although CITIC had released a text interview with Liu Junhua on Saturday, the rumor persisted because 'there was text but no picture.' This led to the urgent release of the video on Monday for further clarification.
CITIC tried hard to clarify, but the official concealment of key information only made the incident more mysterious.
Independent commentator Cai Shenkun commented that after the building crash, the authorities remained tight-lipped, and the most anxious was actually CITIC Group. He questioned: 'Why don't the state media directly answer who Liu Junhua, the pilot who flew into the building, is? Why continue to hide the truth despite the public uproar?'
Some netizens said: 'The most likely reason for the official silence is that the Chinese Communist Party internally hasn't decided how to handle it. The highest authority, Xi Jinping, hasn't set the tone. The incident is too sensitive and involves too many departments and systems, far beyond what a single department can handle. Without Xi Jinping's word, no one dares to act pre-emptively.'
Many netizens lamented that the authorities have actually 'made a simple matter complicated': if it was just an ordinary flight accident, revealing the victim's identity would suffice; if it was a malicious act, the motive should be disclosed promptly. The more they hide, the more speculation grows.
In fact, after the incident on the 26th, the authorities imposed strict information blackouts. Nearly a day later, the official 'Beijing Chaoyang' public account released an extremely brief notification, stating that a light sports aircraft collided with a high-rise building, resulting in the death of the pilot and injuries to 13 people on the ground.
The notification did not mention the pilot's identity at all, and even deliberately omitted the name and specific location of the affected building, 'China Zun.' This 'drip-feed' style of transparency is exactly the root cause of the current rampant rumors.
[Liu Mancang Sentenced to Life in Prison; Three Consecutive Political-Legal Chiefs of Henan Fall]
Henan has seen another 'political-legal tiger' fall. Today (June 30), Liu Mancang, former deputy director of the Henan Provincial People's Congress and former secretary of the Political and Legal Affairs Commission of the Henan Provincial Party Committee, was sentenced to life imprisonment by a court for bribery.
To date, three consecutive secretaries of the Henan Provincial Political and Legal Affairs Commission have all been convicted and sentenced.
Liu Mancang was found to have used his power from 1997 to 2024 to directly or through relatives accept property worth more than 170 million yuan, involving areas such as business operations, land remediation, and real estate development. Due to the particularly large amount of bribes and the significant losses caused, the court sentenced him to life imprisonment, lifelong deprivation of political rights, and confiscation of all personal property.
Public records show that Liu Mancang was born in 1955 in Xixia County, Henan Province. He has long served in Henan, including as mayor of Shangqiu, secretary of the Shangqiu Municipal Party Committee, vice governor of Henan Province, secretary of the Provincial Political and Legal Affairs Commission, and deputy director of the Provincial People's Congress Standing Committee.
In October 2024, Liu Mancang was investigated; in April 2025, he was expelled from the Chinese Communist Party.
The official notice at that time stated that he engaged in superstitious activities, was greedy and corrupt, and after retirement, continued to use his influence to seek personal gain, amassing huge amounts of property.
It is noteworthy that, including Liu Mancang, Henan has seen three consecutive provincial political-legal secretaries fall in recent years. Previously, Wu Tianjun was sentenced to 11 years in 2017, and Gan Rongkun was sentenced to life in prison in 2023.
Additionally, during their tenures, all three actively followed the Chinese Communist Party in persecuting Falun Gong and were placed on the wanted list by the overseas organization 'International Organization for the Prosecution of Falun Gong Persecution' (IPLFP).
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'News Direct' Production Team
(Editor in charge: Liu Ming)
