Iraq faces severe internal divisions and sovereignty challenges, caught between the US and Iran after Ayatollah Ali Khamenei's killing. Iran-backed Shia militias attack Iraqi oil infrastructure, impacting the economy and challenging the new PM's disarmament efforts.
The US Treasury Department has issued a temporary 60-day sanctions waiver for Iran's oil sector, authorizing the production, sale, delivery, and import of Iranian crude oil and petrochemicals. This follows recent negotiations and a memorandum of understanding between the two countries.
Ukrainian President Zelenskyy gave Belarus one week to remove Russian military equipment used in attacks on Ukraine, threatening to do so himself. He also highlighted Belarus's role in supplying Russia's oil refining industry and the Russian army. Meanwhile, EU leaders discussed diplomatic channels with Russia, and Poland's president threatened to revoke an honor for Zelenskyy over renaming a military unit.
US investment groups are racing to capitalize on Venezuela's oil sector reopening, with firms like Lionheart Capital targeting underinvested fields. A proposed merger could create the first Nasdaq-listed company offering direct access to Venezuelan oil assets, signaling renewed international interest amid political shifts and Middle East instability.
Iran is considering nationalizing the Strait of Hormuz, similar to its oil sector, according to Abbas Goudarzi, spokesman for the Iranian parliament. This follows reports of Iran's readiness to block the strait and increase operations in Bab El Mandeb to pressure Israel for a ceasefire.
The oil sector in the South Caucasus and Central Asia is shifting towards more flexible trading strategies as volatile markets and Asia-led demand reshape global energy flows.
Iranian Vice President Esmail Saghab Esfahani warned on Sunday that any damage to Iran's infrastructure, particularly oil facilities, would trigger fourfold retaliation against supporting countries. The threat follows US pressure on Tehran's oil sector, with Trump suggesting pipelines could reach critical point within three days. Meanwhile, Iran conveyed a two-stage peace plan to Washington via Pakistani mediators, and Foreign Minister Abbas Araghchi visited Russia for talks with Putin.
