Spot premiums for Middle East crude extended their rally on Thursday to their highest in more than two years
sanctions
Latest in sanctions
Donald Trump
EXCLUSIVE: ‘Kamala Harris couldn’t show you the Middle East on a map’: Eric Trump on why Donald Trump is the best presidential option for the region
Eric Trump also claims that his father could solve the region’s conflicts and is “doing great” despite assassination attempts
Donald Trump
EXCLUSIVE: Trump would reimpose Iran sanctions, ‘that’s the reason they’re trying to kill him,’ claims son Eric Trump
Eric Trump warned of “consequences” should Iran attack his father but said the former president is the “only person” who can bring stability to the region
CBUAE
UAE Central Bank sanctions insurance company for regulatory violations, cites data policy breach
The insurance company was found to have had deficiencies in its regulatory policies procedures
crude imports
India’s Reliance gets US approval to resume crude imports from Venezuela
US sanctions were reinstated in April after Venezuela failed to honour the agreement, and oil companies have been applying for permits from the US Treasury Department to keep doing business there
Aviation
China hits Boeing, US arms firms with sweeping sanctions over Taiwan ties
The move is the latest in a series of sanctions Beijing has announced in recent years against defence companies for weapons sales to Taiwan
geopolitical tensions
‘Under siege’: Businesses need to focus on geopolitics as current global order erodes, experts say
Weaponising corporate interests, shifting power dynamics, and economic warfare – business can no longer neglect geopolitics, experts warn
banking
UAE Central Bank imposes sanctions on 8 banks
Central Bank of the UAE imposed sanctions on eight banks in the country
CBUAE
UAE central bank sanctions six banks for non-compliance on tax evasion-related requirement
The provision refers to banks implementing the Common Reporting Standard (CRS), which is a reporting requirement to help fight against tax evasion.
commodity
Russia sanctions have already reduced oil supply, increasing price volatility, says IEF
Sanctions cause commodity prices to surge and equities to sink as economic fears increase
BP
Netflix, TikTok, Mastercard, Visa join growing list of companies cutting ties with Russia over its conflict in Ukraine
International sanctions, the closure of airspace and transports links due to the war, and the financial restrictions on SWIFT and capital controls have made it difficult – if not impossible – for many companies to supply parts, make payments, and deliver goods to and from Russia
Hassan Rouhani
In pictures: First phase of US sanctions against Iran
The first round of sanctions takes effect overnight, targeting Iran’s access to US banknotes and key industries including cars and carpets. The second phase, which takes effect November 5 and will block Iran’s oil sales, is due to cause more damage, though several countries including China, India and Turkey have indicated they are not willing to entirely cut their Iranian energy purchases.
Hassan Rouhani
US re-imposes first wave of tough, unilateral sanctions against Iran
The first of two rounds of US sanctions kicked in this morning, targeting Iran’s access to US banknotes and key industries, including cars and carpets
crude oil
OPEC oil production climbs as Saudi Arabia pumps near record
Saudi policy appears to be helping cool prices in the way sought by President Trump
Donald Trump
US said to meet Saudi leaders to discuss Iran oil sanctions
US is working with nations including Saudi Arabia to make sure oil markets are well-supplied
geopolitics
May mayhem for oil prices: Three factors that are likely to impact supply
Analyst Ehsan Khoman says that geopolitics are currently overshadowing fundamentals and playing a huge role in the near-term future of the energy market
blacklist
US, Gulf Arab states place sanctions on Hezbollah leadership
The US and Saudi-led Terrorist Financing and Targeting Center said the sanctions were aimed at Hezbollah’s Shura Council, the powerful Lebanese militia’s decision-making council