Economics

Despite facing a series of military setbacks throughout Iraq and Syria, ISIS is consolidating its control over a key city in Libya less than 400 miles away from the Italian island of Sicily. Over the past year, ISIS has been deepening its presence in Sirte, a city along Libya’s northwestern Mediterranean …

Iran is entering the global economy, and some investment-bank analysts are starting to get pretty excited. Most outsiders see Iran as an anti-Semitic Islamic state run by extremists who tolerate terrorism (as long as it’s not in Iran). But Iran is also the last large, modern, educated economy …

Russian Defense Ministry has presented photos of oil delivery convoys at Syria-Turkey border, the head of the Russian General Staff’s operative command said. The general staff has irrefutable evidence on Turkey’s involvement in illegal oil trade. Moscow has called on Turkey to open access to the places where, according to the retrieved Russian intel, …

The inclusion of the yuan in the IMF’s basket of world currencies reflects the challenges that face the euro and the dollar, French economist Jacques Sapir told Sputnik. The International Monetary Fund (IMF) announced on Monday that it will include the yuan in its basket of currencies that make up the Special …

The OPEC oil cartel may face pressure to lower production quotas, as its efforts to defend the market against shale producers is finally paying off. OPEC looks unlikely to reduce production quotas as its strategy of lowering oil prices to maintain market share begins paying off. Saudi Arabia is facing pressure from other …

As the terrorist attack in Paris sparks worldwide fear of similar reprisals and a bloody shootout and hostage situation in a five-star Mali hotel exacerbates those concerns, global energy security reels under the pressure of unfathomable geopolitics. In an exclusive interview with Oilprice.com, Robert Bensh—managing director and partner …

Until last summer, nothing could be done in Europe without Germany’s consent. The whole eurozone had to embark on a policy of austerity, reforms were imposed and at the height of the last Greek drama, Wolfgang Schäuble, the German finance minister, could even propose a Grexit. Being the …

Marcus Weisgerber For years, the Long Range Strike Bomber project has been shrouded in secrecy, likely at Area 51, the Air Force’s top-secret proving ground deep in the Nevada desert. Service leaders say little beyond that they plan to buy 80 and 100 aircraft for about $550 million …

The two leaders had “a very long and informative” discussion, according to the Kremlin spokesman Dmitry Peskov. Russian President Vladimir Putin and Brazilian President Dilma Rousseff discussed bilateral cooperation in nuclear energy, Kremlin spokesman Dmitry Peskov said Thursday.“A whole spectrum in bilateral ties was touched upon, including cooperation in nuclear energy,” …