The Saudi Arabian government has released an official statement in light of the recent bombing of its oil facilities: VOC
Russia’s defence ministry said on Wednesday it had proof that Turkish President Tayyip Erdogan and his family were benefiting from the illegal smuggling of oil from Islamic State-held territory in Syria and Iraq. Moscow and Ankara have been locked in a war of words since last week when a Turkish[…]
President Recep Tayyip Erdogan has denied that Turkey bought oil from the Islamic State of Iraq and the Levant (ISIL) after Russia accused Ankara of turning a blind eye to oil smuggling by the group. Speaking to a group of local officials in the capital Ankara on Thursday, Erdogan said:[…]
The United States sanctioned a Syrian businessman on Wednesday who it said was a middleman for oil sales between Islamic State and the Syrian government, the latest salvo in an effort to cut off the flow of funds to the militant group. The U.S. Treasury Department said in a statement[…]
Saudi Arabia could burn through its financial assets within five years, as the country grapples with slumping oil prices. The Middle East’s biggest economy is expected to run budget deficits of 21.6 percent in 2015 and 19.4 percent in 2016, according the IMF’s latest regional outlook. That means Riyadh needs[…]
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