Three judges who cleared palm oil giants of corruption charges related to export permits have been arrested, Indonesian officials said Monday. The arrests follow the earlier detention of the South Jakarta district court’s chief judge in connection with the same case.

Last month, a local court acquitted Wilmar Group, Musim Mas Group, and Permata Hijau Group—based in North Sumatra—of allegations tied to the improper acquisition of export permits in 2022.

The three judges responsible for that ruling were taken into custody on Sunday night, Attorney General’s Office spokesperson Harli Siregar confirmed in a text to Reuters.

On Saturday, prosecutors arrested Muhammad Arif Nuryanta, the chief judge of the South Jakarta district court, who allegedly received a bribe of 60 billion rupiah (approximately $3.8 million) to influence the ruling, according to Siregar. He stated that two company lawyers were involved in arranging the payment, and around $1.07 million was allegedly distributed to the three presiding judges.

“The bribe was intended to ensure the judges ruled the actions were not criminal,” Siregar said. A court clerk and the two lawyers have also been arrested, he added.

Reuters was unable to contact the judges or their legal representatives for comment.

Siregar noted that the Attorney General’s Office has filed an appeal against the March acquittal.

Wilmar Group, Musim Mas Group, and Permata Hijau Group did not immediately respond to requests for comment.

Although Nuryanta was not directly involved in the case hearings, he served as the court’s deputy chief at the time of the verdict.

Indonesia, which produces around 60% of the world’s palm oil, introduced strict export controls in 2022—including a three-week export ban—to address surging domestic cooking oil prices.

Prosecutors initially sought penalties and restitution from the companies amounting to as much as 11 trillion rupiah.

On Friday, Iran announced its commitment to giving the upcoming high-level nuclear talks with the United States a “genuine chance,” just a day before scheduled discussions in Oman. The statement follows U.S. President Donald Trump’s recent warning that failure to reach an agreement could lead to military action.

Trump surprised many on Monday by revealing that direct talks between Washington and Tehran would begin in Oman—a Gulf nation known for its history of mediating between the West and Iran.

Despite the diplomatic opening, tensions remain high. On Friday, the White House reiterated Trump’s threat, with officials warning of “all hell to pay” if Iran does not agree to abandon its nuclear ambitions. U.S. special envoy Steve Witkoff, who will lead the American delegation, told the Wall Street Journal that preventing Iran from developing a nuclear weapon is a non-negotiable objective. He noted, however, that the U.S. remains open to “other ways to find compromise.”

Trump’s return to the presidency in January has revived a more confrontational approach toward Iran. During his first term, he withdrew from the 2015 nuclear deal, which had placed strict limits on Iran’s nuclear programme in exchange for sanctions relief. Israel, a key U.S. ally, continues to view Iran’s nuclear development as an existential threat.

Meanwhile, Iran and its allied groups have been weakened by a series of Israeli military operations across the region—including airstrikes within Iran—following attacks launched by Hamas from Gaza in October 2023.

Iranian state media reported that Foreign Minister Abbas Araqchi will represent Tehran in the talks, while Witkoff will lead the U.S. delegation. Omani Foreign Minister Badr al-Busaidi will serve as mediator.

The Iranian Foreign Ministry emphasized that Washington should appreciate Iran’s willingness to engage in dialogue despite what it described as America’s “prevailing confrontational hoopla.” Ministry spokesperson Esmaeil Baghaei stated on X: “We intend to assess the other side’s intent and resolve this Saturday. In earnest and with candid vigilance, we are giving diplomacy a genuine chance.”

Deputy Foreign Minister Majid Takht-e Ravanchi added, via ISNA, that a successful outcome is possible “if threats and intimidation from the American side stop,” warning that “we reject any bullying and coercion.”

Speculation over possible U.S. military action has intensified following airstrikes on Yemen’s Iran-aligned Houthi group, which has targeted international shipping lanes in the Red Sea in support of Hamas. Israel, meanwhile, has resumed its military offensive against Hamas after a brief truce, and tensions with Hezbollah in Lebanon—also backed by Iran—remain high.

Iran Readies ‘Important and Practical’ Proposals

Iran had previously refused direct talks with Washington, but Trump’s stark ultimatum on March 30—“If they don’t make a deal, there will be bombing like never before”—appears to have shifted the dynamic.

Ali Shamkhani, an adviser to Supreme Leader Ayatollah Ali Khamenei, revealed that Tehran has prepared “important and practical” proposals aimed at achieving a “real and fair” agreement. He added on X: “If Washington comes to the talks with sincere intentions and a genuine will to reach an agreement, the path to a deal will be clear and smooth.”

Since Trump exited the 2015 deal—calling it flawed—Iran has steadily increased its uranium stockpile, enriching it to levels nearing weapons-grade. While Iran maintains its programme is solely for peaceful energy purposes, Western nations argue that the scope and scale suggest otherwise.

Confusion Over Format: Direct or Indirect?

Confusion remains over the format of the talks. Trump described them as direct negotiations, but Iranian officials insist the discussions will be indirect, with Oman mediating. Shamkhani confirmed Araqchi would travel to Oman with “full authority” to engage in indirect discussions.

Under President Joe Biden, the U.S. and Iran engaged in several rounds of indirect talks, but progress was minimal. The last time the two countries held direct negotiations was during Barack Obama’s administration, which oversaw the original 2015 accord.

The European Union announced on Thursday that it will suspend its planned countermeasures against US President Donald Trump’s wide-ranging tariffs for 90 days. This decision comes a day after Trump paused his own tariffs for a similar duration.

European Commission President Ursula von der Leyen made the announcement, stating that the EU is choosing to give negotiations a chance. “We took note of President Trump’s announcement. While finalising the adoption of the EU’s countermeasures, which had strong backing from our member states, we have decided to put them on hold for 90 days,” von der Leyen said in a statement posted on social media platform X.

The EU had initially announced tariffs targeting US imports worth €21 billion, including soybeans from Louisiana—the home state of US House Speaker Mike Johnson. These measures were intended as a response to the 25 percent tariffs the Trump administration imposed on European goods just a day earlier.

On Wednesday, a majority of the EU’s 27 member states voted in favor of the retaliatory measures, some of which were scheduled to take effect by mid-April.

However, President Trump unexpectedly stepped back from imposing tariffs on most countries for 90 days, while simultaneously increasing the tariff rate on Chinese imports to 125 percent.

Posting on his social media platform Truth Social, Trump stated: “I have authorized a 90-day pause and a substantially reduced reciprocal tariff of 10 percent during this period, effective immediately.”

US Treasury Secretary Scott Bessent clarified that Trump’s administration would suspend the so-called ‘reciprocal’ tariffs on many of the country’s largest trade partners, while maintaining a 10 percent tariff on nearly all global imports. He added that the pause would apply to 75 nations currently in trade negotiations with the US, though he did not specify which countries were included.

The Indian rupee is likely to weaken further on Tuesday, mirroring losses in the Chinese yuan after U.S. President Donald Trump issued fresh tariff threats against China.

The 1-month non-deliverable forward suggests the rupee will open between 85.90 and 85.92 per U.S. dollar, compared to 85.8350 in the previous session. On Monday, the rupee fell by 0.7%—its sharpest single-day drop in three months—amid a broader risk-off sentiment fueled by concerns that Trump’s tariff threats could dampen global growth and raise inflation.

A currency trader at a Mumbai-based bank noted that while the overall risk sentiment has improved slightly, the weakening yuan remains a concern for the rupee.

According to the trader, the rupee’s short-term direction—as well as that of other Asian currencies—now hinges entirely on how the tariff situation unfolds. If China allows the yuan to weaken further in order to offset the effects of U.S. tariffs, the Reserve Bank of India may also permit a steeper decline in the rupee.

Following Trump’s statement on Monday that he would impose an additional 50% tariff on U.S. imports from China by Wednesday unless Beijing rolls back the 34% duties it implemented last week, the offshore yuan slid past 7.36 per dollar—its lowest point in two months. China’s recent tariffs were a direct response to the reciprocal duties earlier announced by Trump.

As the trade war intensifies, investors are navigating a volatile environment. Risk assets are being sold off, safe-haven assets are in demand, and emerging market currencies—including the rupee—are under pressure.

Trump’s latest rhetoric indicates that market instability is likely to persist. “It remains to be seen how China will react to Trump’s remarks. However, signs—including a piece published in the People’s Daily—suggest that China is ready to weather the storm,” MUFG Bank said in a note.