The ongoing Israel-Iran hostilities risk disrupting global oil markets and reigniting inflation. But the United States and its allies should not hesitate to release strategic reserves if this conflict threatens to spike oil prices. The US Strategic Petroleum Reserve (SPR) of crude oil is currently well-stocked for domestic needs. After accounting for fifty-two-week averages of
As the anniversary of Hamas’ devastating October 7 attack on Israel approaches and the escalation of the Israel-Gaza war continues, tensions in the Middle East show no signs of receding. Iran’s role in supplying, training, and facilitating attacks from Hamas, Hezbollah, and the Houthis is well-known, but fears persist that dismantling this network will lead
Interest in the interest is growing. Over the past three days, Group of Seven (G7) finance ministers met in Stresa, Italy, on the shore of Lake Maggiore, to discuss what to do with a major pile of money. Following Russia’s full-scale invasion of Ukraine in 2022, G7 nations blocked around $300 billion in Russian assets
While much of the world’s attention was on the ongoing Gaza war, the Middle East and North Africa (MENA) region was also dealing with unprecedented heavy rainfall in the United Arab Emirates and surrounding countries this month, coupled with record heat waves throughout the region. These events were stark reminders of the climate change challenges
A series of Russian drone and missile attacks beginning March 22 has destroyed much of Ukraine’s energy infrastructure. The damage, which will cost billions of dollars and many months to repair, has crippled Ukraine’s ability to light and heat itself for the medium term and marks a major escalation in Russia’s ongoing invasion. The latest
When the European Council meets in the coming days, it will consider whether to open accession negotiations with Ukraine to join the European Union (EU). This milestone moment comes at the recommendation last month of the European Commission, which recognized the major reforms that Ukraine had undertaken toward membership so far. While no timeline is
Watch the event Flagship Event Tue, December 5, 2023 • 5:00 am ET Global Energy Forum at COP28 The eighth Forum will be held in Dubai as energy and climate decision-makers converge for COP28. Energy & Environment Energy Markets & Governance Energy Transitions Geopolitics & Energy Security Event transcript Uncorrected transcript: Check against delivery Speaker
Russia’s full-scale invasion of Ukraine has launched many useful comparisons about how Ukraine’s efforts to survive and repel Russian forces might be applicable to Taiwan’s defense against a potential attack by the People’s Republic of China (PRC). Taiwan and its partners, for example, could directly apply a number of military and economic statecraft lessons against
In the early hours of June 6, the Kakhovka dam spanning the Dnipro River in Russian-occupied southern Ukraine collapsed, sparking a major humanitarian and ecological disaster in the surrounding area. The unfolding catastrophe has been labeled as a war crime and an act of ecocide, but holding anyone legally accountable will likely prove challenging. The
The blowing up of the Kakhovka dam in Russian-occupied southern Ukraine in the early hours of June 6 has produced a range of catastrophic humanitarian and environmental consequences. The resultant draining of the Kakhovka reservoir also creates significant risks for the nearby Zaporizhzhia Nuclear Power Plant. The plant, which is the largest in Europe, is
