Oil prices have surged due to the escalating Middle East conflict, which has disrupted shipping through the strategic Strait of Hormuz and drawn significant military attention from the U.S. and its allies. Russia has emerged as a key beneficiary of rising energy prices, potentially increasing its oil revenues and military spending amid the ongoing Ukraine war. Meanwhile, the conflict intensifies with attacks on Gulf countries, heightened regional military deployments, and diplomatic efforts to support affected nations and maintain global energy security.
Posts tagged as “European Council”
British Prime Minister Rishi Sunak has reached a new deal on post-Brexit trade rules for Northern Ireland, which requires the region to follow some EU rules while still remaining part of the UK. The agreement has been welcomed by the EU and the UK government, and is seen as a major breakthrough in the UK's post-Brexit relationship with the EU. Sunak now faces the challenge of selling the deal to his own party, while also ensuring it is accepted by the EU.