oil

Tariffs are already being charged to their first great victim of the global economy: the price of oil

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In this tariff war, China He has decided to get back to the United States with tariffs of 84% to all imports. A blunt response of the Asian giant, which has charged its first victim by crossfire: oil. Price drop. The price of barrels is below Los 60 dollars and going down. As He explained Energy expert Javier Blas, the oil market is going through a perfect storm: on the one hand, the fall in global demand as a direct consequence of the tariff war, and on the other hand, The answer a few days ago of the OPEC+ to continue producing more, which causes the offer to continue increasing. If this situation extends, it could evolve towards a real supply shock affecting two giants. The matter is more complex. OPEC+ decided to increase its oil production despite the fall in prices due to tariffs and concerns of a global economic slowdown. The organization I was looking to recover the market share I had lost due to the previous cuts. In addition, the growing production of non -member countries and Failurers of the rules to raise the offer. It will be very expensive. In all this situation, Saudi Arabia is one of the affected giants because in its recent projects it is diversifying its economy with the initiative, Vision 2030. It is betting on an economic model that is disconnected from oil, but It is still your currency To continue financing their mega -structures, such as Neom. As have indicated from Reutersthe fall in prices threatens to cut tens of billions of state dollars, as is already being seen in the stock market of the state oil company, Saudi Aramco. The impact is capital, since Riad can be forced to increase his indebtedness or postpone large infrastructure projects. In fact, according to the same news agency, the International Monetary Fund has estimated that Saudi Arabia needs prices greater than $ 90 per barrel to square its accounts. The other giant. The fall in prices takes with him another great economy ahead: Russia. As He has warned for Reutersthe governor of the Central Bank, Elvira Nabiullina, that the escalation of tariff wars represents a clear risk for Russia due to the fall in crude oil prices. In his words, the continuity of the commercial conflict reduces global trade, slows down the world economy and, consequently, decreases the demand for Russian energy resources. In fact, with the current situation of war, the dependence of Moscow of oil and gas is key, but the data is showing how in March 17% fell and it is expected that in April it will continue to descend. From Moscow. Kremlin spokesman Dmitri Peskov has acknowledged that the oil market is going through an “extremely turbulent” situation, derived from commercial tension caused by the United States. Meanwhile, the price of raw Urals, the Russian referent barrel, is dangerously approaching to the threshold of 50 dollars By barrel, the lowest level in almost two years. As Oilprice has had accessRussian authorities have indicated that a technical fiscal rule will help mitigate the effects on the budget, but oil prices are in free fall. Forecasts. The price of oil can continue down with all the situation that is being experienced: wars, sanctions and territorial instability. All this affects perception Investor risk and without a clear OPEC+ response the price falls without brakes. Image | Javier Colmenero Xataka | For great technological tariffs are an existential threat: their empires depend on the “world system”

Right now there are thousands and thousands of tons of olive oil embarking on the United States

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If there is a word that perfectly defines the current state of the Spanish agricultural sector, that word is: chaos. While many wine and oil companies They anticipate sales up to six months to the US To avoid the tariff effect, others Cancel hundreds of orders. That’s why, As the dreaded April 9 approachesthe bags fall and the world prepares to a more than possible recession. The question that everyone of oil is done is what will happen to what was supposed to be the first quiet year after the great crisis. Before tariffs. As Rafael Pico explainedDirector of the Spanish Association of Olive Oil Exporting Industry and Commerce and Oil Oils, between the months of January and March, dozens of companies in the sector have advanced their exports to the US. In January alone, the last month of which we have consolidated data, increased by 5,000 tons compared to the previous year. In February and March similar (or higher) figures are expected. Six months. That is, according to their own calculations, six months of consumption. And it can be considered a “security mat” waiting for Europe and the US to agree. The same has happened with wine, but not so much with other perishable products (such as hams or sausages). However, the oil is different for a simple reason: there is no substitute. Is there no substitute? Although it is true that countries such as Morocco, Turkey, Australia, Argentina or Chile could benefit from tariffs (because it will be half that Europeans), the truth is that none of those markets can satisfy the thirst of aciete of North America. 80% of the oil consumed in the US comes from Europe, explained from the COAG. Its own production, if we want to have the complete perspective, are about 6,000 tons of a set of 350,000. Who could put those amounts of oil on the table? In addition, we come from very high prices. That is something that also plays in favor of Spanish oil: last year We saw prices at 9 euros and now they are 3.5. In this context, you just have to contain a bit the fall in prices to the end user so that the effect of tariffs is not noticed. In fact, it is possible that the Ahroa price with tariffs is lower than in previous campaigns. They are good news, right? Not everything. Because, as it is, it is expected that sales fall and, in addition, there is a country with much higher tariffs that will have to redirect its production to Europe: Tunisia. It is true that we speak only of 56,000 tons per year in Spain, but an indiscriminate increase at this time can erode the profitability of many drying farms. The background problem. It is that the tariff war will distort the entire market. And it will make it the recovery of the sector is very complicated. It doesn’t hurt to remember that We have been very bad for a few years and that most producers concentrate on surviving. The dust that is raising all this commercial battle makes it very difficult to make decisions in the future. The problem is that it is time to take them. Image | Dimitri Karastelev In Xataka | For centuries, olive leaves were used to feed cattle. Now some grenadines want our nutrition to revolutionize

The price of oil does not date back

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Saudi Arabia has been the center of attention thanks to its dystopic architectural projects that the country has launched with the aim of diversifying its economy and becoming a Luxury Tourist Destination. However, after a streak of economic fluctuations that have reduced the yields of the Saudi Financing Fund, the entire project wobbles. The reason: the Low oil price and estimates of Let it be maintained So for a time. The fall in the price of oil. One of the reasons that promoted the Vision 2030 Project From Saudi Arabia, it was precisely to disconnect the country from its strong dependence on gas and oil deposits, origin of its current prosperity. However, the current geopolitical context and the unstoppable boom of the Sustainable energies They have made the price of oil, a vital resource for the Saudi economy, has experienced a considerable drop in recent months. Such and As you collect he Financial Timesin March 2025, the price of barrel in international markets was around 70 dollars, far from the more than $ 100 that were reached in 2022. Despite the production cuts implemented by the Organization of Petroleum Exporting Countries (OPEP+), the recovery of black gold prices has been slow and insufficient. No oil there is no financing. This decrease in income directly affects the country’s budget, estimating a spending cut by more than 3.7% per year by 2025. Saudi authorities had projected much higher income to finance their ambitious plans, so a significant deficit in public accounts that puts at risk that puts at risk has been generated The financing of your megaprojects star. “A more pronounced and sustained drop in the price of oil would require a deeper reduction in government spending to contain the magnitude of the deficit and accumulation of government debt. There will probably be also an additional adjustment and recalibration in the investment plans out of budget,” explained Monica Malik, chief economist of the ABU Dhabi Commercial Bank to Financial Times. According to published Bloomberg, the Saudi Arabia government had budgeted an expense of 342,000 million dollars by 2025, of which it estimated to recover about 315,000 million dollars for oil revenues. That would leave a deficit of about 27,000 million, which is aggravated by the reduction of income of an oil that does not rebound. There was already a first cut. It is not the first time that the pharaonic architectural projects of Neom is trimmed. A year ago, the expectations of building a 170 km long building, It was lowered 2.7 km by 2030 and the construction of The desalination plant that was going to guarantee drinking water for the new city. Unlike the current situation, those cuts were motivated by the poor financial performance of the Public Saudi Investment Fund, such and As I counted The Wall Street Journaland for some maneuvers of “creative accounting” by the managers of the work with the objective of justify the cost overheads. The Saudi crossroads. With a whole catate of half -building works and an investment forward trying to attract as many investments possible to cover the growing expenses. Of that Fugging forward The commitments arise to make Saudi Arabia at the headquarters of the Asian Winter Games in 2029, followed by the 2030 Expo in Riad and the Football World Cup in 2034. These commitments will require that the Government further cuts the investments destined for Great tourist projectsto focus on the construction of 10 futuristic stadiumsa skiing station with an artificial lake of fresh water and artificial snow. All this, remember, in a desert climate. In Xataka | Neom announces a new city: hundreds of luxury villas that instead of having parking will have port for superyates In Xataka | SIRANNA: The new luxury destination for the Supermer Image | Neom

The price of olive oil in origin has returned to “normality.” What everyone wonders is what happens to supermarkets

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Every week, the Ministry of Agriculture, Fisheries and Food publishes the price of oil at source and The last bulletin is full of good news. The price of ‘liquid gold’ before reaching bottling, distributors and supermarkets has returned to the levels prior to the ‘boom’ of recent years. Now the most difficult is: this reaches supermarkets. When did the oil price start uploading? Actually, the price of oil began to rise erratically from the beginning of the Ukraine War. The explanation is simple: Ukraine was one of the largest producers of vegetable oils in the world. As soon as the problems began, manufacturers around the world went to other types of oils and that raised the price of oil (also driven by the increase in energy, fertilizers and oros agricultural inputs). It was, however, a conjunctural price increase. However, like Cristina G. bolinches pointed at eldiario.esthe situation began to complicate in autumn of 2022, when the Ministry of Agriculture warned that the harvest was going to be abnormally low. From that moment on, a roller coaster of ups and downs that now, finally, reaches its term. What price do we talk about? According to the Ministryon March 16, the 100 kilos of oil in origin were at 406.04 euros. A little (very little) above the traditional profitability threshold of the dry land. Before the war, the price became lower, but to this we would have to discount the inflation and rise of costs. In addition, the trend (although slowed) remains positive. In Italy, for example, the price Still still in the clouds. The price in supermarkets. In the lines of the stores the price has also dropped. Above all, if we take as a reference the 12 euros per liter of virgin oil of extra olive that was requested in the worst moments of 2024. Right now, the liter (in white marks) can be found at 5.80 euros, according to Bolinches. The problem is that in October 2022, just when the price of oil was at these prices, the liter You could find 3.2 euros per liter. Rockets and feathers. It is, however, a well -known phenomenon in other goods. When the Brent barrel rises in price, the fuels experience strong and almost immediate growth. On the other hand, when you go down, prices They fall much more moderate. In the case of oil, in addition, it is logical. It is enough to remember that the largest distributor in the world, deoleo, lost 34 million euros Only in 2023. All that entity that has some power in the market will try to soften the price drop to square the accounts at the end of the month. In this sense, the fall in origin evidence that producers are still the weakest leg of the entire framework. After years walking on the tightrope, they need income to stay alive. Above all, in an environment in which prices can fall even more. When will ‘normality’ return to the supermarket? A priori, it’s a matter of time. The rains of the month of March They predict good conditions for the next harvest. It is true that everything can still be twisted, but it is the stimulus that the market needed to assume that they don’t have much time. Of course, the months of March They are becoming more wet And that has long -term implications. It will be necessary to see how all these climatic changes affect the Olivos Sea and, by extension, to our diet. For now, everything seems to indicate that the sector is getting interesting. Image | Fulvio Ciccolo | Eduardo Soares In Xataka | For centuries, olive leaves were used to feed cattle. Now some grenadines want our nutrition to revolutionize

They will lower the price of olive oil

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We have been talking about the oil for three years. And it is not for less, in the blink of an eye, The ‘liquid gold’ prices shot And they could not only the sector in check, but the cuisine of the country. Luckily, everything began to come back to normal. Therefore, this of chaining weeks and weeks of rains over the “sea of ​​olive trees” has aroused the suspicions of many … how does all this water affect a tree accustomed to dry environments? For this campaign, water doesn’t matter too much. As He said in ideal Antonio Velasco, from Quaryat Dillar“The bulk of the olive is already harvested. We still do not give the campaign for closed but most oil has already occurred, so there will be many changes.” And for the next? That is the big question. In recent days, we have spoken that rains have arrived in a bad time for strawberry (which is in full collection and excessive humidity exposure can end up infecting her of mold) or the citrus (whose flower It seems relatively sensitive to moisture). What situation will the olive tree be left? Obviously, excessive water affects almost all plant species of our climate environment: in the case of the olive tree, a tree especially accustomed to dry areas, water reservoirs products due to a bad design (or management) of the farms can end them directly. Good news. Without reaching those extremes, the olive grove also has their own fungal diseases (such as rephya and anthracnosis) that proliferate with abundant rains. But, in general, rainfall is very beneficial for olive explained in the mail Teresa Pérez. It is true that what manager of the interprofessional of Spanish olive oil is true is true, above all, at the end of summer and autumn when the olives are fattening. But it is still true that also in the weeks prior to flowering, in spring, it is interesting that it rains with joy. Why is all this important? Because that has good consequences for the campaign next year. If we travel to April 2024, we could see how the Olive Oil Council of Agro-Food Cooperatives of Spain interpreted the rains of that March As the first indication of a trend change, a “magnificent” news. Actually, everything remains to be done (the key moments of all this are flowering and fattening), but rains such as these weeks are a key element to ensure an excellent campaign. It is, to put it in some way, a necessary, but not sufficient condition. What will happen next year? As we usually say, this is the ask that everyone does in the sector. Not surprisingly, we have learned in recent years that Two weeks of heat are enough Above normal so that an entire olive campaign disappears and the sector walks towards the abyss of shortage. However, 2025 has become an invitation to be optimistic. Anyway, we will notice in the prices of 2026. Image | emp & ISD In Xataka | That Andalusia is a superpower of olive oil is great for Spain, but a problem for its other regions

Your plan to leave the oil also goes through betting strong in video games

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‘Pokémon Go‘He broke into 2016 and transformed the world of mobile video games. He took us out, turned any corner into a digital hunting field and immersed us in augmented reality as never before. Almost a decade later, the iconic game is about to change the owner. Scopely, a developer owned by Savvy Games Group, which in turn belongs to the Saudi Sovereign Fund, has signed an agreement To buy it with other Niantic titles. A millionaire operation. Scopely has decided to disburse $ 3.5 billion to get part of the Niantic games business, which in 2024 generated more than 1,000 million dollars in revenue and maintains a base of more than 30 million active players per month. As we can see, this agreement does not imply the total purchase of the American company, but the acquisition of a part. If regulators are approved, Scopey, based in the United States and 950 employees in Spain distributed between Barcelona and Seville, will stay with ‘Pokémon Go’, ‘Pikmin Bloom‘ and ‘Monster Hunter Now‘, in addition to’ Campfire ‘,’ Wayfarer ‘and the global network of meetings that support them, such as live events. It will also absorb the team responsible for these projects, guaranteeing their jobs. A catalog with several successes. Scopely is the ‘Monopoly Go’ editor, a mobile game that, although it may not sound you, It became one of the great prominent global after beating its income record in 2024. And it is not his only strong letter. It is also behind ‘Stumble Guys’, ‘Star Trek Fleet Command’ and ‘Marvel Strike Force’, games with huge communities. With this acquisition, it seeks to get your business a step further. What will happen to Pokémon Go? One of the questions that can be asked is what will happen to the game. Scopely has given a signal by absorbing Kei Kawai and Ed Wu, veteran leaders of their studies. The company ensures that the teams “will continue with their ambitious roadmaps” and that “players can expect these games, apps and events to remain faithful to the experiences they know and love.” One of the keys to the success of other Scopey titles has been his aggressive monetization strategy, an issue that follows in the air in regard to ‘Pokémon Go’. It is not clear if the company will apply the same model or if it will respect the current structure of the game. In any case, Pokémon remains owned by The Pokémon Companyso any important modification should have its approval. Challenging moments for Niantic. The agreement comes after a complicated stage for Niantic. Although ‘Pokémon Go’ was a phenomenon from day one, reaching more than 500 million players in their first year, its popularity collapsed during confinements, when its mechanics based on outdoor exploration was practically unusable. This was followed by several setbacks. Niantic canceled ‘Transformers: Heavy metal’, developed in collaboration with the creator of Sleep no More‘Punchdrunk’, in addition to two internal projects with Blue Sky and Snowball Key names. There were also layoffs: In 2023, more than 300 employees were disconnected. With this panorama, the big question is inevitable: if Niantic is letting go to its greatest success, what bet does it have for the future? A turn to AI. Once the operation is finished, Niantic will transform its technological platform into Niantic Spatial Inc., a new Geospatial company. Its objective will be to develop a new generation map for devices and machines to interact with the physical world. As part of the agreement, Scopely will invest 50 million dollars in the company and continue to share certain data from the players. Black gold to digital world. It is no secret that Saudi Arabia seeks reduce its dependence on oil and diversify its economy. A key piece in this strategy is its sovereign fund, owner of Scopely, the company that has just signed the agreement with Niantic. The Fund plans to invest about 40,000 million dollars in the video game industry, with the aim of creating hundreds of companies and thousands of jobs from here to 2030. Images | Scopery | Niantic In Xataka | Neom seems crazy, but Saudi Arabia does not take the brake and begin to build a cube in which 20 Empire State fit In Xataka | The video game industry seems to be clear where its next boom is: in the games “for couples”

The price of oil faces a perfect storm and an unexpected country has been placed in the center: Kazakhstan

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The oil market is experiencing one of Your most unstable stagesfrom internal disputes within the OPEC+ to the production policies of great powers outside the organization. In this scenario, the role of Kazakhstan has gained great relevance, but the real danger can be what is to come if it is combined with the focus of other international actors, such as the United States. Overproduction. A month ago, Kazakhstan was news because had to accelerate its nuclear development to address your growing shortage of energy., Approveing ​​your first nuclear power plant. Now, this country that had always maintained a low profile in oil matters It has been increasing Production in recent weeks, overcoming what is estimated by OPEC+. According to A recent reportKazakhstan produced 1,767 million barrels per day (BPD) in February, a notable increase compared to 1,570 million BPD in January, and well above its quota in the organization, which It is set at 1,468 million BPD. The problems multiply. In the Tengiz deposit, operated in collaboration with Chevron, it has exceeded expectations being the largest within the OPEC+. This situation has caused a challenge in the goals of the oil organization to maintain a balance in production. In an attempt to stabilize prices, the oil organization had decided to increase gradually production after years of cuts to boost crude oil prices. However, with the price of oil collapsing, it is in need of reviewing its strategy. Russia’s threat to reverse the decision to increase production and internal disagreements about production quotas are complicating the situation even more. The imminent crisis. The price of crude has suffered a strong collapse in recent weeks, with a fall of more than 13% from the peaks reached in January. While this decrease It can be attributed to factors As the excess supply in America and a weaker demand, the Kazakhstan factor is acting as a catalyst that could deepen the crisis. Its excessive production could be an important factor for OPEC+ to not sustain its agreements and face a review of its strategy. Without significant correction, the market could face an even deeper price crisis. United States following closely. With Trump’s arrival, oil has resurfaced again in the United States. The current president has promoted a large -scale oil production policy, his famous: “Drill, Baby, Drill”. In this operation to continue producing to keep prices below $ 60 a barrel, experts They have pointed out That Trump has intensifying competition in a saturated market, affecting all crude -dependent economies. The worst is yet to come. The growing production of Kazakhstan and the United States is creating An uncertain panorama For the oil market. If the supply continues as the demand does not grow to the expected rhythm, the crude oil prices They could collapse even more, affecting both producers and oil -dependent economies. The point will be if the OPEC+ can balance these external pressures or if the market will be dragged into a price crisis. Image | Flickr Xataka | The era of the “renewable transition” has died as soon as it starts: BP leads the replication of the great oil companies

There was a time in which the big oil companies raised “transition” to renewables. BP just kill the plan

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The British giant BP has announced a radical turn in its corporate strategy: from the green commitment to fossil fuels again. Short. A year after be appointed CEO of BPMurray Auchincloss has dismantled the plan to reduce the production of hydrocarbons that had promoted his predecessor, Bernard Looney. Auchincloss described his new strategy as a “fundamental restart” In the company’s plans: to cut the investment in renewable energy to increase the production of oil and natural gas. A turn in the middle of the investment pressure. The latest BP results did not excite their investors. During the fourth quarterthe net profit of the group fell to 1.2 billion dollars, less than half as in the same period of the previous year. With a collection of dividends of just eight cents per share, Elliott Investment Management, which accumulates a participation Of almost 5,000 million dollars in BP, it has intensified the pressure on the group to improve the return of its shareholders. Given this scenario, BP has decided not to get away from fossil fuels, but to enhance its production. When your neighbor’s beards see cut … Shell, Exxonmobil and Totalenergies, three of the main competitors of BP, They have been improving results Thanks to its commitment to the production of hydrocarbons, whose demand continues to increase slightly despite the energy transition. As the divergence in the performance of both strategies became more noticeable, BP shareholders, especially Elliott, have been demanding drastic improvements in the structure and strategy of the company. How this affects renewables. It is not encouraging news. BP plans to increase its investment in hydrocarbons to about 10,000 million dollars annually until 2027, with the aim of produce between 2.3 and 2.5 million barrels Petroleum and natural gas newspapers by 2030. To be able to do this while returning capital to shareholders, BP will substantially reduce spending on less profitable projects, such as renewable energies. The group will adjust its investments in these areas with a very selective approach, prioritizing transition projects that require a lower disbursement. Its Offshore wind division will become independent from the group. Even so… BP says to continue committed to its goal of achieve carbon neutrality by 2050a legal objective established by the United Kingdom government, which was one of the first to formalize and support with legislation the commitment to reduce net greenhouse gases to zero emissions. BP’s change of strategy can help her be more profitable in the near future, but only a transition. It will clearly be inevitable If climatic policies are maintained or become more aggressive. With the improvements in efficiency and safety of nuclear energy, advances in electrification and increasingly cheaper renewables, excuses are over to continue betting on fossil fuels. Image | BP In Xataka | European oil companies readjust their strategy: they leave aside the green transition before market pressures

The EU spent more in Russian oil and gas that in helping Ukraine

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They are fulfilled three years since Russia began its invasion In Ukraine. During this time, The economic impact is still deep In both countries. Although general attention has been logically focused on human suffering, these days economic figures have been disclosed that reveal the magnitude of the damage: Ukraine records An annual inflation of 12%, while in Russia it reaches 9.5%. Numbers that show the persistence of economic deterioration on both sides. And next to this, another fact: Europe has invested more in Russia than in Ukraine. The “dependence” to Russia. A recent Center for Research on Energy and Clean Air (CREA): The European Union has allocated More money to the purchase of Russian fossil fuels than to direct financial support granted to Ukraine During the third year of the conflict caused by the Russian invasion. According to the analysis presented on the occasion of the third anniversary of the war, the EU spent approximately 21.9 billion euros in Russian oil and gas Only in the last year of conflict, significantly higher than The 18.7 billion euros delivered to Ukraine In financial aid for 2024, according to data from the Kiel Institute for the World Economy (IFW Kiel). The data has many readings, but the main one is paradoxical, since the situation highlights a deep contradiction between the European verbal support to Ukraine and the concrete economic actions that indirectly benefit the Vladimir Putin regime, providing essential income to sustain its military campaign. Historical figures and comparisons. The numbers are even more striking when the total expenditure on Russian fossil fuels by Europe is observed throughout the last year (2024), which exceeded 39% the financial aid assigned to Ukraine. In addition, the report emphasizes that Russia has obtained global income equivalent to 242,000 million euros only for energy exports During the third full year of the conflict, bringing their total profits from the beginning of the invasion to figures near the billion euros. In other words, European agency is especially critical when considering that Russia receives up to half of its fiscal income directly from the energy sector. The economist Christoph Trebesch of the IFW Kiel, although he did not participate directly in the analysis, The surprising gap remarked between the help mobilized for Ukraine and the economic support granted in previous historical conflicts. For example, Germany was considerably more generous during Kuwait’s liberation (1990-1991) compared to the provisions of Ukraine so far, measured proportionally in terms of national GDP. Consequences of energy dependence. The data leads to the same conclusion: the report underlines how this unit follows indirectly promoting war in Ukraine by economically sustaining the Russian government. Vaibhav Raghunandan, co -author of the study, explicitly declared that buying Russian fossil fuels It is practically equivalent to finance the Kremlinfacilitating the continuity of his military aggression. In addition, the Russia’s ability to overcome sanctions economic imposed by the West through its so -called “shadow fleet”of which We have spoken before (A fleet of old ships) allows the country to maintain approximately one third of its income from fossil fuel exports. The European response: sanctions and challenges. It is the last of the legs to be treated: what does Europe do? In reaction to these realities, European ambassadors recently approved new measures in its 16th round of sanctions against Russiadirected specifically against that “shadow fleet.” The report also warns that, strengthening existing sanctions and closing some legal gaps, The EU could reduce Russian income up to 20% from these fuels. In particular, he recommends close the so -called “refinement lagoon” (Through which Europe can acquire Russian oil processed in third countries), as well as even more restricting the Russian gas flow Through the Turkstream gas pipeline. In addition, the report indicates another emerging problem in European energy trade: The growing dependence on Russian liquefied natural gas (LNG). Although The EU has considerably reduced imports Russian gas channeled since the beginning of the conflict, partially compensated this decrease through greater imports of Russian LNG, which reached record figures in 2022, placing Russia as The second most important exporter From this type of gas to Europe. The war three years later. I counted in A report the Guardian On the economy of both countries since the beginning of the conflict that, in a Moscow key, traditional economic indicators seem to favor Russia. Although initially the Gross Domestic Product (GDP) fell -1.3%, has shown a solid recovery in the last two years, growing at 3.6% annual according to data from the International Monetary Fund (IMF). Instead, the Ukrainian economy suffered a dramatic collapse of 36% in mid -2022, closing that year with a 28.3% drop. Although Ukraine has managed to partially recover with growth rates of 5.3% in 2023 and 3% in 2024, its national income still remains 20% below the levels prior to invasion. Resiliation and perspectives. Despite adversities, Ukraine resilience has been remarkable. Christopher Dent, professor of international economy, argues that Ukraine has better long -term perspectives of what Russian propaganda affirms. A concrete example is the recovery of the Ukrainian electricity sector, which after The attack on the Kakhovka hydroelectric power station in 2023 (which caused losses of at least 2 billion dollars), has significantly increased its electrical exports to Moldova, Hungary and Romania, integrating more closely into the European energy network. Maritime trade through the Black Sea and the Danube continues to work, and agriculture also shows clear signs of recovery. The future potential of Ukraine also lies in its wide mineral resources, including metal deposits valued at about 11 billion dollars. On the other hand, tax collection has improved substantially, with significant increases in corporate taxes and consumptionalso supported by international IMF and Western agencies. Bad? On the other sidewalk and despite these advances, the Ukrainian economy faces huge structural challenges. The most important: the labor market remains negatively affected, with An unemployment rate of 16.8%aggravated by mass migration abroad and mandatory military recruitment. The adaptibility of Russia. For its part, Moscow, Despite international isolationhas demonstrated a … Read more

The countries of the Persian Gulf have a plan B to continue influencing beyond oil: critical minerals

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In case the sector of Solar energy was smallthe Persian Gulf wants to continue expanding his empire and now points to the extraction and trade of metals. Expanding sectors. The companies between Oman, United Arab Emirates and Saudi Arabia They have created Specialized units in metal marketing. On the one hand, International Resources Holding (IRH) in Abu Dhabi and Minerals Development Oman (MDO) have focused on energy and metal control. On the other hand, the Saudi country, through Ma’aden and the Public Investment Fund (PIF), has driven Its mining sector with new commercial strategies towards critical minerals. The look in the metals. The global raw material trade has changed in recent years, displacing traditional centers such as London and Geneva towards the Middle East, especially Dubai. Great oil traders, such as Vitol, Mercuria and Gunvor They have expanded Its metal business, and the Gulf states seek to position themselves in this market. With greater control over marketing, these countries can ensure better prices for their resources and strengthen their presence in the global supply chain. The expansion strategy. To consolidate their presence in the sector, companies such as International Resources Holding (IRH) and Minerals Development Oman (MDO) have created specialized commercial teams. Irh, based in Abu Dhabi, He has hired to 60 people to handle energy and metal trade, while MDO is in the process of establishing a unit of 25 people. At the same time, the Saudi Mining Fund Manara plans to form its own commercial team to ensure the supply of critical minerals. In addition to reinforcing their commercial capacities, these countries have made key investments in mining. IRH has acquired a 51% share in the Mopani copper mine in Zambia, and Abu Dhabi, through ADQ, has signed a joint company of 1.2 billion dollars with Orion Resources. Oman, on the other hand, has reactivated copper extraction in his lasail mine and seeks to better organize the plaster and chromite market to maximize income. Towards other booming markets. The Persian Gulf is exploring other areas such as renewable energies, artificial intelligence and nuclear energy. Countries like United Arab Emirates and Saudi Arabia They are promoting solar projects massive and the development of green hydrogen, with the expectation that more than 30% of its energy capacity comes from renewable sources in the next five years. Saudi Arabia has also seen an opportunity in The resurgence of nuclear energy And seek to lead the uranium sector, ensuring its role in the global supply. At the same time, the country has sealed Strategic agreements in AIwith projects like Neom that seek to position it as a key actor in the technological revolution. Global ambition. The gulf bet for metal trade is just one more piece in its strategy to become a key actor in the global economy. With the rise of the energy transition and the reconfiguration of international trade, the region seeks not only to diversify its income, but also consolidate its influence in strategic sectors. Oil gave them power; This new diversification is your insurance to continue like this for decades. Image | Unspash and Corey Poppe Xataka | The Persian Gulf has dominated the long era of oil. Now he is preparing to lead the era of solar energy

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