A grown-up Japan marshals the world’s anti-China coalition July 27, 2020 Intellectual coherence has its advantages. While much of the western world has recently taken a holiday from history — as the US is weighed down by the melodrama of Donald Trump, the EU by the sleep-deprivation soap operas of its summit meetings, and the UK by profound confusions about how to respond to coronavirus — [...]
EU to set up special payment channel to bypass Trump’s sanctions on Iran September 25, 2018 The European Union will establish a special payment channel to allow companies to continue to trade with Iran and avoid US sanctions. The 'special purpose vehicle' (SPV) to facilitate payments related to Iran's exports, notably oil, and imports was unveiled following a ministerial meeting at the UN in New York. Britain, China, France, Germany, [...]
Coronavirus: Two dead in Italy while cases in South Korea more than double February 22, 2020 The number of coronavirus cases outside of China continues to grow as the virus claimed its first two lives in Italy on Saturday. In South Korea the number of confirmed cases has more than doubled in one day bringing the total to 433. World Health Organisation chief Dr Tedros Adhanom Ghebreyesus has said the spread outside [...]
In memoriam: Ian Taylor 1946-2020 January 16, 2021 Ian Taylor, who died in June of last year, ran Vitol for two decades. He was well-liked in the City not just for his business acumen, but for his philanthropy – which, it was revealed last week, continued after his death. Bloomberg reported he left £1m to the Royal Opera House and significantly more than [...]
Britain will join US to protect ships from Iranian attack August 5, 2019 Britain plans to work with the US to ensure the safety of commercial ships passing through the Strait of Hormuz from Iranian attack, defence secretary Ben Wallace said today amid escalating tensions in the region. However the UK will not join US sanctions against Iran, Wallace said after President Donald Trump ripped up a nuclear [...]
Oil prices continue slump as prospects for recovery look slim April 15, 2020 Oil prices continued to fall today amid further signs that Opec’s record production cuts would not be sufficient to stabilize the oil market amid a coronavirus-driven recession. Benchmark Brent crude dropped over six per cent for the second consecutive day, falling to $27.50, while West Texas Intermediate fell below $20 to stand at $19.51. The [...]
US sends messages to Iran ‘every day’ in bid to open negotiations September 8, 2018 The United States sends Iran messages “every day” in a bid to begin new negotiations, Iranian President Hassan Rouhani has said. Donald Trump withdrew the US from a nuclear deal with Iran in May and reimposed sanctions on the country, with sanctions targeting its oil sector set to come into force in November. Read more: [...]
How could the oil attacks in Saudi Arabia affect investment? September 24, 2019 Things are heating up in the Middle East following the attack on an oil field in Saudi Arabia just over a week ago. The kingdom produces 10 per cent of the world’s oil, and while state-owned company Saudi Aramco, which owns the damaged plant, is drawing on its inventories to prevent export levels from falling, [...]
Top journalists Nick Robinson and Jon Snow in isolation over coronavirus fears February 26, 2020 The BBC’s Nick Robinson and Channel 4 presenter Jon Snow are both in self-isolation as coronavirus fears take their toll on British journalism. Robinson, who presents Radio 4’s Today programme, said he had been given a “routine precautionary check” for the virus after returning from Vietnam and Cambodia. The former Beeb political editor said he [...]
Oil prices hit four-year high as markets await US sanctions on Iran October 1, 2018 Oil prices hit a four-year high this morning as the market reacted to ongoing uncertainty over US sanctions on Iran. Brent crude – considered the international benchmark – rose almost half a per cent to $83.09 (£63.70) per barrel in early trading, after rising as high as $83.32. Read more: Iranian foreign minister claims country [...]