"Corporations, like religions, make noble the basest instincts of man." -- Michael Rivero
The UAE has become a hub for Russia’s gold trade since western sanctions cut Russia’s traditional export routes and the Emirates positions itself as a neutral player in the Ukraine war.
The Gulf state imported 75.7 tonnes of Russian gold worth $4.3 billion in the year after Russia’s invasion of Ukraine - up from just 1.3 tonnes during 2021, according to Russian customs records first reported by Reuters.
Last Friday, members of the Arab League welcomed the Syrian regime back to the organization. Representatives from several Arab member states shook Syrian leader Assad’s hand and gave him, a “warm” reception according to several news outlets. Syria was suspended from the league in 2011, but on May 7 in Cairo the league agreed to reinstate the Assad regime.
There has been mounting anger in Bahrain over the arrest of a senior Shia imam who called for the release of political prisoners in the kingdom.
Muhammad Sanqour, a senior religious leader at the Imam Sadiq Grand Mosque in the village of Diraz, was summoned by the Criminal Investigation Directorate (CID) on Monday.
Qatar has issued a warning to Europe about disruptions in the supply of natural gas as the energy transition policies of governments stifle the investments necessary for keeping Europe flush with natural gas in the next decade.
Qatar’s energy minister, Saad al-Kaabi, warned Europe on Tuesday at the Qatar Economic Forum that there would be a “big shortage” of gas in the future, mostly “because of the energy-transition push that we’d say is very aggressive.”
Brazil, Russia, India, China, and South Africa (BRICS) countries have not yet established a common currency. However, if we assume that they would create a new currency and oil-rich Middle East nations accept it, several things could happen. Many U.S. sectors could take a hit if Middle East countries reject the dollar and use the new BRICS currency.
The Ministry of Oil and Minerals of the Sanaa government signed a memorandum of understanding with the Chinese firm, Anton Oilfield Services Group, and a representative of the Chinese government, to allow oil exploration in the Republic of Yemen, Saba News reported on 21 May.
The memorandum of understanding comes after many negotiations and coordination with several foreign companies to convince them to invest in the oil sector of the war torn country.
Bahrain and Lebanon are to restore diplomatic relations after a year-and-a-half break prompted by a spat over the conflict in Yemen.
Bahrain and other Gulf countries followed Saudi Arabia in recalling their diplomats towards the end of 2021 after a Lebanese minister criticised Riyadh's military intervention in the war in Yemen.
Manama, a staunch ally of Riyadh, also called on its citizens in Lebanon to leave the country.
If the United States and China ever enter into conflict, one of the key battlegrounds could be the Middle East. China has been busily trying to shore up its energy security and diversify its energy portfolio around the world, but the country remains heavily dependent on the Middle East for oil. Unfortunately for Beijing, the United States retains a significant amount of leverage and military might in the region which could be used as a powerful weapon in a war of wills between the two global superpowers.
Doha's embassy in Sudan has been ransacked by an armed group, Qatar's Foreign Ministry said on Saturday.
"The State of Qatar condemned in the strongest terms the irregular armed forces' storming and vandalising its embassy building in Khartoum," the foreign ministry said.
"The embassy staff had previously been evacuated and... none of the diplomats or embassy staff were subjected to any harm," the ministry said.
