US-Israeli relations are expected to come under further pressure during a Washington visit by a high-level delegation from the Israeli government, to include Prime Minister Benjamin Netanyahu and Defense Minister Ehud Barak next Monday.
The world’s top oil exporter, Saudi Arabia, appears to have cut both its oil production and export in December, according to the latest update by the Joint Organizations Data Initiative (JODI), an official source of oil production, consumption and export data.
In a renewed effort to secure answers about the scope of Iran's nuclear program, inspectors from International Atomic Energy Agency (IAEA) are expected to return to Tehran this week.
Ratings agency Standard and Poor’s (S&P) on Tuesday pointed to increased risks for issuers in the Middle East as the spiraling tensions between Iran and the West showed no sign of slowing down. Although the agency believed that the risks were already accounted for in its current ratings, it cautioned that a reassessment depended on how the situation developed.
As many observers had expected, Russia and China used their veto privileges to block the latest attempt by members of the United Nations Security Council to take concrete measures to stop the bloodshed in Syria.
A series of tit-for-tat statements between Iran and the European Union showed no signs of abating on Saturday, with the Iranian Oil Minister saying that oil exports “will certainly be cut to some European countries.”
Iran’s parliament is to debate a “double-urgency bill” which would halt all oil exports to the European Union in response to expanded sanctions by the bloc.