US Has No Plan To Renew Iranian, Russian Oil Waivers, Bessent Says

US-Owned LNG Ship Reportedly Struck By Kamikaze Drone At Egyptian Port A potentially major escalation emerged late Wednesday after a US-owned gas-processing vessel moored at Egypt's Mediterranean port of Damietta was reportedly struck by a drone, according to Reuters, citing maritime security firm Ambrey. Details remain scant, and this assessment is preliminary. Explosion disrupts Damietta LNG hub An explosion at Egypt's Damietta LNG terminal has disrupted operations at one of the country's key LNG import hubs after damaging the Energos Winter floating storage and regasification unit and the GasLog Salem LNG...

Turkey Markets Crash After Court Unseats Opposition Head In Latest Erdogan Power Grab Shortly after we learned that Turkey had sold virtually all of its Treasuries in March to defend the lira after the Iran war broke out, the country was thrown into fresh political turmoil on Thursday when a Turkish court removed the leader of the country’s main opposition party in a landmark ruling that triggered a stock market crash, including one marketwide halt, and could strengthen President Recep Tayyip Erdogan’s grip on power while further alienating foreign capital. The...

The war could not have been financed under the old gold standard.