Economy & Business - AL-MONITOR: The Middle Eastʼs leading independent news source since 2012

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Economy & Business

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Oil falls 1.8% as traders await 'toughest' sanctions on Iran

Traders are awaiting details about new US measures sure to further disrupt Iranian oil flows.

Khor Fakkan Container Terminal

Analysis

UAE-Iran trade relationship becomes key test of Trump’s wartime strategy

The Gulf state suspended trade with Iran after new attacks in August. Experts point to risks for both sides as the Trump administration seeks to squeeze Tehran economically.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Foreign Ministry Spokesperson Lin Jian holds a press conference on Aug. 19, 2026.

China slams Trump over economic war on Iran: What to know

China’s once significant oil imports from Iran have been impacted by the war in the region and increasing US sanctions.

Iranians drive past an anti-US billboard at Enghelab Square in central Tehran, Aug. 3, 2026.

Trump’s Iran ‘economic D-Day’ threat sends oil prices above $94

In a Truth Social post, the president threatened that any country that provides a financial lifeline to Iran will face "tremendous economic consequences."

Latest News

Explainer

Iraq seeks special Hormuz access from Iran in scramble to keep oil flowing

AHMAD AL-RUBAYE / AFP via Getty Images

Turkey looks to expand Syria energy footprint into oil, gas

President Ahmad al-Sharaa meets Turkish Energy and Natural Resources Minister Alparslan Bayraktar at the People’s Palace in Damascus, Syria, on Aug. 19, 2026.

Oil nears $92 on UAE missile alert as Trump claims Iran talks stuck

Leon Neal/Getty Images

United Arab Emirates

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

Jack Dutton

Chief Business Correspondent

In Bristol, reporting on regional business, climate change, AI, tech

Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Vanessa Ghanem

In Dubai, reporting on business, energy and politics

Francisco Serrano

In Lisbon, reporting on North Africa business

A security guard opens the main entrance to the Oasis Casino on May 3, 2001.

Jericho’s casino may reopen after 21 years

The Oasis Casino in the West Bank, once considered the largest gambling hall in the Middle East, has returned to the fore again amid talks about reopening the venue 21 years after it closed.

Mosque Gaza

Gazans outraged over millions of dollars spent building mosques

The upcoming inauguration of a mosque that was built at a cost of $2 million in the cash-strapped Gaza Strip has shocked residents whose homes have been destroyed by the repeated wars.

Sisi & Bennett

Israel, Egypt launch new flight route ahead of Passover

Following up on the September meeting between Egyptian President Abdel Fattah al-Sisi and Israeli Prime Minister Naftali Bennett, Jerusalem and Cairo announced the opening of a flight route between Tel Aviv and Sharm el-Sheikh.

Saudi Crown Prince Mohammed bin Salman (R) and Bahrain's Crown Prince Salman bin Hamad al-Khalifa.

Saudi GDP grew 3.2% in 2021, highest in seven years

Saudi economic progress includes growth in the non-oil sector, as foreign direct investment moves more slowly.

China currency

Analysis

Saudi considering China’s yuan for oil purchases

Saudi Arabia and China have been growing closer for years, and the news comes at a time of frustration among Gulf states with the US.

Adam Lucente

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

Leonid Nevzlin, a former Russian oligarch.

As West ups sanctions on Russia's oligarchs, many maintain Israeli citizenship

Dozens of Russian oligarchs have obtained Israeli citizenship in recent years due to their Jewish heritage. Western sanctions over Russia’s invasion of Ukraine could affect Israel’s relationships with the billionaires as well as its technology sector.

Adam Lucente

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

Ultra-Orthodox Jewish children.

Israel's ultra-Orthodox reject housing in new Negev town

Ultra-Orthodox leaders search for a solution to the housing crisis in the sector, but they are not in favor of the solution proposed by the government to establish a new ultra-Orthodox town in the Negev region.

A Palestinian employee works inside a wheat mill.

Egypt to see wheat imports resume from Ukraine, Russia

Egypt also banned wheat exports to protect its grain supply, which has been threatened by the Russian invasion of Ukraine. Egypt is one of the largest wheat importers in the world.

AL-MONITOR Staff

By AL-MONITOR Staff

A flame from a Saudi Aramco oil installation known as "Pump 3" is seen in the desert near the oil-rich area of Khouris, 160 kilometers (99 miles) east of Riyadh, Saudi Arabia, June 23, 2008.

Saudi cooperation with China continues with finalization of long-planned refinery deal

Saudi oil giant Aramco has made a few agreements with Chinese companies in recent years.

Lebanese workers pack fruits and vegetables.

Lebanon seeks alternative wheat sources, bans some food exports amid war in Ukraine

Ukraine and Russia provide several Middle Eastern states with wheat, sunflower oil and more.

Saudi central bank

Analysis

Saudi Central Bank extends guaranteed financing program for small businesses

The program encourages Saudi banks to loan to small businesses by guaranteeing a portion of the funds, and was launched in response to the coronavirus-related economic downturn in Saudi Arabia.

AL-MONITOR Staff

By AL-MONITOR Staff

OPEC

UAE sticks to OPEC+ production limits

The Biden administration is asking Gulf partners to increase production in response to rising oil prices, but so far the cartel is holding to its earlier agreement.

United Arab Emirates