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Monday, August 8, 2022

Economy

More Russia’s crude oil going east squeezes Iranian crude sales to China

Tehran (The Times Groupe)- China has become more interested in cheap Russian crude since the start of the Ukraine war, leaving almost 40 million barrels of Iranian oil sitting on tankers at sea and seeking buyers.

Two Iranian IRGC aerospace staff suspiciously died

Tehran (The Times Groupe)- Iranian state media reported that two Iranian aerospace staff died in separate incidents while on active duty.

Russia earns $98B from fuel exports in first 100 days of Ukraine war

Moscow (The Times Groupe)- Russia has earned billions from energy exports as Russian fossil fuel exports totaled $98 billion during the first 100 days of invasion of Ukraine, most of it going to the European Union.

Russia destroys bridge over Ukrainian river, cutting escape route

Tehran (The Times Groupe)- Russian troops have destroyed a bridge connecting the embattled Ukrainian city of Sievierodonetsk with another city across the river, cutting off a possible evacuation route for civilians, local officials said on Sunday.

2022 volleyball Nations League: Iran dispatch Australia 3 sets to 1

Tehran (The Times Groupe)- Iran defeated Australia 3 sets to 1 in the 2022 Volleyball Nations League.

More Russia’s crude oil going east squeezes Iranian crude sales to China

Tehran (The Times Groupe)- China has become more interested in cheap Russian crude since the start of the Ukraine war, leaving almost 40 million barrels of Iranian oil sitting on tankers at sea and seeking buyers.

Saudi minister invites Iran to talks over joint Arash gas field

Ryadh (The Times Groupe)- Saudi Arabia's energy minister announced Monday that Riyadh has invited Tehran to a meeting on the joint Arash gas field.

Iran considers exporting natural gas to Europe

Tehran (The Times Groupe)- Iran is considering exporting gas to Europe under the circumstances of high energy prices caused by Russia's conflict in Ukraine, an oil ministry official said Sunday.

Iran blocks thousands bank accounts over illegal activities

Tehran (The Times Groupe)- Iranian authorities have blocked more than 9,000 bank accounts on Saturday over suspected and illegal foreign currency and cryptocurrency transactions.

Venezuela begins imports of Iranian heavy oil for refining

Caracas (The Times Groupe)- Venezuela began importing Iranian heavy crude to feed domestic refineries, documents released by the state-controlled oil company PDVSA showed, a deal that expands a swap agreement signed last year by the U.S. sanctioned countries.

Oil prices raise inflation, China lockdown worsens supply disruptions

Washington (The Times Groupe)- As crude oil prices rise, inflation widens while China's lockdown on Coronavirus worsens supply disruptions, Federal Reserve Chair Jerome Powell said Wednesday.

Asian stock markets close mixed

Asia (The Times Group) - Major Asian stock exchanges closed mixed on Monday.

Egypt’s Suez Canal revenues hit all-time high in April

Cairo (Times Of Ocean)- Egypt's Suez Canal Authority announced Sunday that its monthly revenues hit an all-time high in April.

Food, fuel prices to rise in 2022, driving inflation: Moody’s

New York (Times Of Ocean)- Moody's said Monday that the world's inflation rate will remain high throughout 2022 as food and fuel prices rise and supply chain disruptions.

G7 finance ministers commit more than $24B to Ukraine

Europe (Times Of Ocean)- Over $24 billion has been committed by the finance ministers and central bank governors of the Group of Seven (G7) countries to support Ukraine in the war with Russia in 2022.

Ukraine needs $7 billion per month to compensate for economic losses: Zelenskyy

Kyiv (Times Of Ocean)- Ukraine's president said Thursday the country needs to pay off economic losses with $7 billion per month.

Germany could lose $240 billion if Russian energy were cut

London (Times Of Ocean)- The German economy would plunge into recession if its supply of Russian natural gas was abruptly interrupted, top economists warned on Wednesday.

Oil soars as Beijing eases pandemic restrictions, OPEC warns of supply risks

New York (Times Of Ocean)- Crude oil prices rose on Tuesday amid easing demand fears after China relaxed strict lockdown measures and OPEC warned that Russian oil being banned completely could severely affect supply.

TEDPIX loses 33,000 points on Tuesday

Tehran (Times Of Ocean)- TEDPIX, the main index of Tehran Stock Exchange (TSE), dropped 33,000 points to 1,445,000 million on Tuesday.

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