The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt affirmed their full and continuous cooperation and coordination regarding the continued normal operation of all activities of Banque Misr branches in the UAE.
The US and Venezuela have reached a major oil agreement granting Washington access to more than 65 billion barrels of reserves, with President Donald Trump calling it the “biggest oil deal in world history.” Venezuela says the agreement could attract more than $100 billion in investment.
Venezuelan interim President Delcy Rodriguez said that a new energy agreement with the US will remain in force for 25 years, targeting crude oil production of more than 1.5 million barrels per day (bpd) while preserving Venezuela’s sovereignty over its natural resources.
Qatar stepped up regional mediation efforts on Thursday, with Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani pressing Iran to restore freedom of navigation through the Strait of Hormuz, even as Tehran insisted that reopening the strategic waterway would depend on conditions being met by the United States.
Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani is due to visit Tehran on Thursday in a fresh diplomatic push to ease tensions between the US and Iran and help restore freedom of navigation through the Strait of Hormuz.
The United States is set to unleash what Treasury Secretary Scott Bessent has described as an “economic D-Day” against Iran, threatening to sever the country’s remaining financial and commercial lifelines.
The Department of Energy – Abu Dhabi (DoE) has signed a series of Memoranda of Understanding (MoUs) with international regulatory, academic and technology partners during an official visit to the US, strengthening cooperation on the future of the emirate’s energy and water sectors.
As the world awaits details of a potentially punishing new round of US sanctions against Iran, Tehran has warned that it could shut the Strait of Hormuz and halt all oil shipments through the Arabian Gulf if neighbouring countries join President Donald Trump’s economic campaign against it.
US Energy Secretary Chris Wright said the country has reached record levels of oil and gas production, reinforcing its position as the world’s largest energy producer.
Iran and China have pushed back against US President Donald Trump’s threat to impose what Washington says will be the “toughest sanctions in history” on Tehran, warning that unilateral economic pressure could further destabilise the region and damage global trade.
