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Sanctioned-linked yacht crosses Hormuz tensions

A luxury superyacht linked to a close ally of Russian President Vladimir Putin has crossed the Strait of Hormuz despite ongoing tensions and restrictions in the region. The 142-metre vessel, Nord, is associated with Russian billionaire Alexei Mordashov, who is under Western sanctions. The yacht sailed from Dubai to Muscat over the weekend, making it one of the few private vessels to pass through the strategic waterway in recent months. Although Mordashov is not officially listed as the owner, records indicate the yacht is registered to a company linked to his family. Estimated to be worth over $500 million, the vessel features high-end amenities including a helipad, swimming pool and onboard submarine. The crossing comes at a time of heightened geopolitical tensions. Iran has imposed strict controls over maritime traffic in the strait following its standoff with the United States, […]

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UAE to exit OPEC after nearly 60 years

The United Arab Emirates has announced it will withdraw from OPEC and the broader OPEC+ next month, ending nearly six decades of membership. Authorities say the move is intended to give the country greater flexibility in managing its oil production, following significant investments aimed at expanding capacity. By operating outside the group’s quota system, the UAE will be able to respond more freely to global energy demand. The decision is widely viewed as a major development for the oil market. Some analysts consider it a significant setback for OPEC, which could lose influence as one of its key and historically compliant members exits. The UAE currently contributes a notable share of the group’s production capacity. Founded in 1960, OPEC was created to coordinate oil output among major exporting countries to stabilise prices and ensure steady revenues. The UAE joined in […]

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Trump to Visit China for Talks with Xi

US President Donald Trump is scheduled to visit China on May 14-15 to meet with President Xi Jinping. The trip had been postponed from late March due to the ongoing conflict involving Iran. This will be the first visit by a US president to China in nearly a decade. Trump also announced that Xi Jinping is expected to visit Washington later this year. Preparations for both trips are reportedly underway. White House Press Secretary Karoline Leavitt confirmed the new dates, noting that China understood the need to delay the visit so Trump could remain in the US during critical military operations. Beijing has not officially confirmed the dates, but Chinese officials stated that both sides are maintaining communication regarding the visit. They also highlighted the strategic importance of leader-level diplomacy for guiding bilateral relations. The trip was initially postponed after […]

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