Ukraine war threatens Iran’s last economic lifeline - News Summed Up

Ukraine war threatens Iran’s last economic lifeline


Abu Dhabi, UAE (CNN) – The war in Ukraine has two pariah oil-exporting nations competing for the same buyers. The European Union is aiming to join the United States and the United Kingdom in sanctioning Russian oil. European diplomats are trying to reach consensus on a deal to halt Russian oil imports to the bloc that could be signed off by leaders meeting in Brussels on May 30. The agreement would lift sanctions and open Iran’s oil up to the world market. Experts say there has been a slump in Iranian crude oil exports to China since Russia launched its invasion of Ukraine in February, along with an increase in Russian exports to China.


Source: Egypt Independent May 28, 2022 08:43 UTC



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