Interpreting Middle East Economic News and Analyzing Market Trends

Archive for August, 2014

America’s latest weapon designed to punish Russia over its role in Ukraine: Oil

Putin visiting a Rosneft refinery in the Black Sea port of Tuapse in southern Russia Oct. 11, 2013. Source:  Hurriyet Daily News.

Putin visiting a Rosneft refinery in the Black Sea port of Tuapse in southern Russia Oct. 11, 2013.
Source: Hurriyet Daily News.

With American and EU sanctions failing to pinch Russia where it hurts, the American government, with their banker buddies, has found a sure way to hit Russia where it will hurt most – oil.  Western countries have been frustrated with the lack of leverage they have to sway Russia away from meddling in the Ukraine.  After all, Ukraine is their mess and they should be the only ones allowed to mess it up further.  The question is not whether their new weapon will work, but if they have really thought it through.  What effects will their meddling in the oil markets have on the rest of the world?

 

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Dubai hotel occupancy rates plunged in July to lowest level in 18 years

Dubai Hotels

Skyline of Dubai Marina

Bloomberg just reported that Dubai hotel occupancy rates plunged in July to an 18 year low.  While July is typically a slow month for visitors because of the unbearably hot and humid weather, this July was especially bad.  What was the reason?

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