Topic
middleeasteconomy
3 stories, newest first.
Business & Economy · Middle EastHSBC CEO: Strait of Hormuz could be redundant in five years
HSBC Group Chief Executive Georges Elhedery stated that investments in alternative logistics routes could make the Strait of Hormuz redundant within five years. The strategic waterway previously handled a fifth of global oil and LNG trade, but regional conflicts have highlighted the risks of dependence.
Middle East3 min readTrust 60 · Craft 65 · Hype 30
Business & Economy · Middle EastTrucks idle at Turkey-Iran border amid US blockade
Hundreds of trucks are idling at the Turkey-Iran border crossing, with waiting times quadrupling. The US naval blockade of Iran's ports is pushing trade overland, creating significant delays and economic challenges for the country.
Middle East3 min readTrust 42 · Craft 57 · Hype 41- Business & Economy · Middle East
Iran uses barter system to buy Chinese goods, bypassing sanctions
Iran has established a barter-like mechanism to circumvent US sanctions on its oil exports, allowing it to convert oil revenues into credits for purchasing goods from China. This system bypasses international banking transfers and has facilitated the import of various items, including military equipment.
Middle East4 min readTrust 60 · Craft 65 · Hype 45
