COMMENT: Iran conflict energy shock to dampen eurozone outlook, says Oxford Economics
The escalating conflict involving Iran risks delivering a fresh energy shock to the eurozone, potentially lifting inflation while slightly slowing economic growth, according to Nicola Nobile, chief Italy economist at Oxford Economics.
Read Story
Asia’s energy reserves under pressure as ‘2026 energy shock’ takes hold
The closure of the Strait of Hormuz has thrown a harsh spotlight on a simple but decisive question for Asian governments: how long their energy reserves can last as part of the 2026 energy shock
Read Story
Dubai has ten days of fresh food left
Dubai has only ten days of fresh food left after the closure of the Straits of Hormuz has cut the United Arab Emirates (UAE) off from all its imports, including food. In Abu Dhabi real estate prices are also collapsing.
Read Story
UPDATE: Mojtaba Khamenei chosen as new supreme leader
Iran’s Assembly of Experts has selected Mojtaba Khamenei as the country’s new supreme leader following the death of his father on February 28.
Read Story
"Now it business, not friendship." Russia ends discounted oil sales to India
Russian President Vladimir Putin told Indian Prime Minister Narendra Modi, “No more Mr Nice Guy. It’s just business now,” after the US softened sanctions on India’s purchase of Russian oil to alleviate a growing supply side squeeze.
Read StoryEurope looks on in disbelief as US appropriates its weapons for Iran war
European allies are looking on in disbelief and growing concern as the US appropriates weapons they've paid for use in the Operation Epic Fury that started on February 28.
Read Story
UAE mulls freezing billions of dollars in Tehran’s shadow banking network
As the war in Iran escalates, Tehran's shadow banking sector is coming into focus as a possible weakness that could bring the regime down and quickly halt the conflict.
Read Story
US targets Iranian desalination plants
The CIA considers drinking water a "strategic commodity" in the Middle East, where countries rely on desalination plants for water supply. Now they are started to be targeted by both the US and Iran.
Read Story