In The News

Reuters: Guaido Claims Venezuela’s Presidency

Mayela Armas, Angus Berwick and Corina Pons January 24, 2019
Venezuela’s Juan Guaido, head of the opposition-run Congress, declared himself as interim president soon after the United States, Brazil, Colombia, Canada and Costa Rica granted him formal recognition. Nicolas Maduro claimed to start his second term on January 10 following what many described as a corrupt election. Maduro quickly described the situation as a coup and broke relations with the...

The Economist: Qatar Decides to Leave OPEC

January 20, 2019
As of January 1, Qatar is no longer a member of OPEC. Qatar, the first Arab state to join OPEC after its creation in 1960, is now the first Arab state to withdraw from the oil cartel. According to Qatar’s Minister of Energy Saas al-Kaabi, the decision was made to “focus efforts” on natural gas production. Although the Gulf nation is the world’s largest exporter of liquified gas, it is a minor...

CNBC: Europe, Russia, China Join Forces to Dodge Iran Sanctions

Natasha Turak September 25, 2018
The United States withdrew from the international agreement to contain Iran’s weapons program and imposed sanctions on Iran’s oil, aviation, auto and other industries as well as others doing business with Iran. Other signatories to the agreement – France, Britain, Germany, Russia and China – have developed a “special purpose vehicle” to “assist and reassure economic operators pursuing legitimate...

OilPrice.com: Iran Sanctions Damage US Dollar

Nick Cunningham September 20, 2018
The United States withdrew from an international deal that contained Iran’s nuclear program and then reimposed sanctions. Oil traders rely on US dollars. “The role of the greenback in the international financial system is the reason why the U.S. can prevent much of the world from buying oil from Iran,” explains Nick Cunningham for OilPrice.com. “European policymakers have scrambled to try to...

Global Finance: Consequences of Rising Oil Prices

Laurence Neville September 14, 2018
Oil prices have been volatile, moving from more than $100 per barrel in 2014 to $27 in 2016 to more than $75 today. Oil producers with budgets depending on oil revenue like Venezuela could benefit. Still, global growth depends on stable energy prices, and high oil prices could trigger inflation and threaten emerging economies, which are both more energy intensive and less energy efficient than...

Washington Post: Trump Tweets Warning to Iran’s Rouhani

Carol Morello August 9, 2018
Iranian President Hassan Rouhani has not backed down in the face of threatening tweets by President Donald Trump in capital letters. The tweet was in response to a comment by the Iranian president. According to the Islamic Republic News Agency, Rouhani told a meeting of Iranian diplomats that “America should know that peace with Iran is the mother of all peace, and war with Iran is the mother of...

The Hill: US Sanctions on Iran Bound to Fail

George A. Lopez August 6, 2018
The United States withdrew from the Iran nuclear deal in May. US companies must show they are ending economic exchanges with Iran in a range of industries before the end of the year. The US president has also announced secondary sanctions that impose the “same restrictions on all economic entities outside the United States that continue economic engagement with Iran in prohibited trade or finance...