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Prospects for Middle Eastern oil economies to end-2022

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PROSPECTS H2 2022

Prospects for Middle Eastern oil economy to end-2022.

Oman will defend its interests on the Yemen border

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YEMEN/OMAN

Muscat is deeply concerned about the Yemen conflict's potential for cross-border and regional destabilisation. In recent months, the Saudi-led coalition backing the…

Turkey’s currency is likely to depreciate in 2023

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TURKEY

The stability of the lira since June 2022 is primarily a result of President Recep Tayyip Erdogan’s government shoring up the currency despite cutting interest rates. The…

Gulf boycott raises Lebanon economic risks

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GULF STATES/LEBANON

They have failed to convene cabinet for more than a month amid a row over how to resolve a break in diplomatic relations with former Gulf allies. Measures taken by Saudi Arabia…

Gulf states’ quarrels may damage Israel in Gaza

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GULF STATES/ISRAEL

Informal ties between Israel and some of the Gulf Arab monarchies in economic, intelligence, and security affairs are growing, encouraged by the prospect of a US-mediated…

Multiple obstacles will block a Yemeni oil revival

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YEMEN

Hydrocarbon exports are critical to Hadi’s government, which relies almost exclusively on these revenues for funding.

Bahraini-Israeli security ties will strengthen further

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BAHRAIN/ISRAEL

The agreement is the latest in a series of bilateral arrangements following the signing of the Abraham Accords. The relationship between Bahrain and Israel initially focused on…

Russia seeks help from friends for sanctions evasion

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RUSSIA

The US government has named Kazakhstan and many other countries as routes by which sanctioned goods have reached Russia, but has refrained from hitting them with secondary…

Global standards would curb conflict mineral trade

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INTERNATIONAL

As part of the meeting, the United Arab Emirates (UAE) hosted a joint forum with the OECD to address a key problem facing the diamond industry -- the absence of universal…

Limited resources will check BRICS financial clout

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INTERNATIONAL

BRICS members seek to reduce the dominance of the US dollar in global trade; a less dollar-focused approach to development finance from the NDB is consistent with this. The BRICS…