Iran Applies to Join China and Russia in BRICS

Iran, following a virtual summit last week where Chinese President Xi Jinping joined Russian President Vladimir Putin and other BRICS leaders, announced they would like to join BRICS themselves. The move, while an obvious cheap political ploy to divert from the G7 meeting going on over the weekend underscores the so-called outcast triad of Iran, China and Russia. The three nations have been largely labeled as outcasts for various reasons by the majority of the civilized world. The term BRIC … Continue reading “Iran Applies to Join China and Russia in BRICS”

U.S. And Israel To Discuss Military Drills For Different Iran Scenarios

U.S. talks with visiting Israeli Defense Minister Benny Gantz on Thursday are expected to discuss possible military exercises that would prepare for a worst-case scenario to destroy Iran’s nuclear facilities should diplomacy fail a senior U.S. official told Reuters. The talks follow an Oct. 25 briefing by Pentagon leaders to White House national security adviser Jake Sullivan  The U.S. official said on Wednesday, speaking on condition of anonymity said the U.S.-Israeli preparations, which have not been previously reported, underscore Western … Continue reading “U.S. And Israel To Discuss Military Drills For Different Iran Scenarios”

Iranian Nuclear Deal Revival Talks Seem Futile With Scaled Up Iran Uranium Efforts

Negotiations for the seemingly endless talks aimed at reviving the international nuclear agreement with Iran is set to start Monday involving the U.S., Britain, Germany, France, Russia, China and Iran. The elephant in the room is has Tehran advanced its nuclear work so much in the past two years that the 2015 deal can no longer be rescued? Iran’s new president has delayed restarting talks while pressing ahead with nuclear work. Iran is in no hurry after President Donald Trump … Continue reading “Iranian Nuclear Deal Revival Talks Seem Futile With Scaled Up Iran Uranium Efforts”

Turkish Lira Slides to Seven Month Low, State Banks Sell US$1.5 Billion To Stem Fall

Turkey’s Lira hit a 7 month low after the U.S. assassinated Iranian Maj. Gen.Soleimani in an airstrike. Iran’s Supreme Leader Ayatollah Ali Khamenei Swore retribution after the US Turkish state lenders sold up to $1.5 billion to stem the lira’s fall on Friday,

Saudi Arabian Aramaco Oil Plant Attacked by Houthi Rebels Affects 5mbpd Production

Houthi rebels from Yemen launched successful drone attacks on the world’s biggest petroleum processing facility in Saudi Arabia Saturday. Reuters reports that up to 5 mbpd of production has been impacted, half of Saudi Arabia’s output. Fires reportedly under control but damages unclear.

Russia Says Agrees With Saudi Arabia to Extend OPEC+ Oil Production Cuts

Russian President Putin said that ahead of the OPEC+ meeting in Vienna that Russia and Saudi Arabia have agreed to extend the existing production cuts for another 6=9 months.  The U.S. is near record productions and exports. The cuts promised are at 1.2 bpd by OPEC and Non-OPEC.