Osama Rabie, head of the Suez Canal Authority, announced, on Tuesday 1/3/2022, an increase in the revenues generated by the Suez Canal by 15.1 percent during February 2022. Rabie said that revenues amounted to $545.5 million (not including navigation services) during February 2022, compared to $474.1 million during the same month last year, marking an…
Since Russian invasion Ukraine demanded heavy sanction on Russia from international community to isolate Russia globally to end the invasion and respect the sovereignty of Ukraine. Below are the list of countries announced sanctions over Russia so far. US Sanctions Russia Sanctioning financial institutions/banks such as Sberbank, VTB Bank, Otkritie, Sovcombank and Novikombank and some…
Rosneft Sold Venezuelan Operation to Russian Government – Russia’s Rosneft stops operations in Venezuela, sells assets related to functioning in that country. A company owned by Russia has acquired Rosneft’s assets in Venezuela, the cabinet’s press office told TASS on Saturday. “The government of the Russian Federation has acquired assets in Venezuela from Rosneft. A…
Covid19 World Economic Recession? In the most unusual situation for the first time in human history, other than the world war scenario, the world is facing economic recession amid economic slowdown going on for the past few years. The epidemic of this recession is not due to any major war or conflicts but a pandemic…
OPEC, Russia Talks Failed: Nigeria’s Economy Tensed As Oil Prices Tumble. Oil prices slumped Friday after the Organisation of Petroleum Exporting Countries (OPEC) and its allies failed to reach a deal on oil production cuts. The decision followed Russia’s refusal to tighten supply to counter the effects of the coronavirus outbreak on oil prices and…
