After almost two decades of stalemate, all 160 members of the WTO have signed the first deal to simplify standards for customs checks and border procedures. The new rules are expected to increase trade by $1 trillion, and could add over 20 million jobs.
Italian politician Franco Frattini has hit out at sanctions implemented against Russia, saying they are counterproductive. He also says Russian loans to Ukraine are much bigger than the amount of money the EU is prepared to offer Kiev.
If OPEC members decide to boost oil prices by cutting production, this may severely hit some of the cartel’s key customers in China and other Asian countries, Ed Hirs, Managing Director of Hillhouse Resources an oil investment firm told RT.
Russia’s Gazprom and its oil arm Gazprom Neft have agreed with the Vietnamese energy company Petrovietnam to jointly develop Russia’s Arctic offshore oil and gas in Siberia, as well as supply the country’s ESPO blend crude to Vietnam.
The Libyan government owes the UK £14 million for an aborted training program aimed at helping the depleted post-Gaddafi army to recover. The program was abandoned after recruits sexually attacked locals near their Cambridgeshire barracks.
There are three possible outcomes to the OPEC meeting: either they leave the situation as it is, or stick to a 30 million barrel per day ceiling, or cut oil production, Stuart Elliott, Senior Managing Editor of Europe & Africa Oil News, told RT.