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

Business and Economy Cover Image

Economy & Business

Lukoil

Analysis

How Russia stands to win, lose as Iran war squeezes Gulf oil exports

As crude prices surpassed $100 per barrel with the Strait of Hormuz shut, Russia is reaping benefits amid new US sanctions flexibility — but experts say Moscow faces challenges capitalizing on this new market opening.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Saudis shop for fresh products at a market in Riyadh on Feb. 18, 2026, on the first day of the holy fasting month of Ramadan in Saudi Arabia.

Analysis

Alternative supply routes emerge as Iran war tests Gulf food security

Roughly 61 million people in the Gulf rely on established food supply chains, many of which have been upended since the United States and Israel launched their attack against Iran on Feb. 28.

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

Young wheat shoots emerge from moist soil in farmland near Zakho, Iraqi Kurdistan region, Dec. 19, 2025.

Iran war hits fertilizer supplies as Fitch warns prices could rise some 25%

Higher prices and availability, due to the closure of the Strait of Hormuz, are raising food security concerns globally as well as in the Middle East.

Commercial vessels are pictured offshore in Dubai on March 11, 2026. AFP via Getty Images

Oil jumps above $100 as energy crisis called worst in history: What to know

The latest spike is the second time in a week that oil prices have climbed above $100 a barrel.

Latest News

Group of 32 states to release 400M barrels of oil reserves: What to know

Sakis Mitrolidis / AFP via Getty Images

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

Analysis

Oil-price hikes from Iran war threaten Turkey's rate cuts in inflation fight

Yasin AKGUL / AFP via Getty Images

Ezgi Akin

In Ankara, reporting on diplomacy, EU-Turkey ties, NATO

Airlines gradually restore Middle East flights, Gulf still heavily grounded

An Emirates Airbus A380 passenger aircraft prepares for landing at Dubai International Airport in Dubai on March 8, 2026.

United Arab Emirates

Oil swings steady as Aramco warns of 'catastrophic' Hormuz disruption

Dan Kitwood/Getty Images

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

An Egyptian woman shops at a fruit market in Cairo, on March 17, 2022.

What’s behind Egypt decision to raise minimum wage, government salaries by 50%?

Egypt’s economy has suffered from high inflation for years, and now the spillover from the Gaza war is exacerbating the situation.

A sign for the London Metal Exchange (LME).

London Metal Exchange to build delivery centers in Saudi Arabia

Investors and mining companies are bracing for a wave of exploration licenses awarded in Saudi Arabia after the kingdom nearly doubled its untapped mineral estimate to $2.5 trillion and announced new incentives for miners in January.

A billboard with pictures of Indian Prime Minister Narendra Modi (L) and President of the United Arab Emirates (UAE) Sheikh Mohammed bin Zayed Al Nahyan.

Gulf-India relations boosted by UAE deals, Saudi Aramco talks

India has made deals with the UAE and Qatar recently, and trade between India and the GCC is rising.

Farmers spray grapevines at a vineyard in Souidania town, 15 Km west of the Algerian capital, on May 16, 2022. (Photo by RYAD KRAMDI / AFP) (Photo by RYAD KRAMDI/AFP via Getty Images)

Algeria to miss its 2024 food import reduction target amid worsening drought conditions

Francisco Serrano

Francisco Serrano

In Lisbon, reporting on North Africa business

FAYEZ NURELDINE/AFP via Getty Images

Saudi inks $3.2B missile defense deal with South Korea as Iran attends expo

The World Defense Show has yielded deals between Saudi Arabia and South Korea and may lead to the strengthening of the kingdom’s ties with Iran, the United States and others.

QatarEnergy India LNG

India bets on Qatar again with 20-year LNG deal

India is one of Qatar's top LNG customers, and the Gulf country is looking to expand its reach in Asia and Europe amid high export targets and increasing competition from the United States' expanding natural gas market.

ALI KHALIGH/Middle East Images/AFP via Getty Images

How the Gaza boycotts are impacting McDonald's, Starbucks sales

Last month, McDonald’s CEO Chris Kempczinski said “misinformation” about the company’s position on the conflict had hurt the business.

Two bank employees count dollars and Iraqi dinars in Baghdad on Sept. 28, 2000.

Why Iraq's dinar is trading below official dollar rate amid new restrictions

A top US official visited Iraqi officials last week to discuss countering illicit finance and strengthening Iraq’s financial system.

Milkor 380 drone.

South Africa’s Milkor gets go-ahead to produce drones in Saudi Arabia

The Gulf country is bolstering its defense capabilities amid increasing instability in the Middle East.

A THOR vertical takeoff and landing micro-unmanned aerial system, developed as military tactical mule platform and part of the "Legion-X" line of robotic and autonomous combat solutions produced by Elbit Systems, flies during a press demonstration at their headquarters in Ramat HaSharon, Israel, July 10, 2023.

Japan’s Itochu drops Israel’s Elbit defense systems as Gaza war impact deepens

Companies with connections to Israeli defense firm Elbit Systems have been targeted by activist groups including Palestine Action, which is calling for those involved in the company’s supply chains to sever ties.

ISMAILIA, EGYPT - JANUARY 10: A ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt. In the wake of Israel's war on Gaza after the October 7 Hamas attack on Israel, Houthi rebels in Yemen pledged disruption on all ships destined for Israel through the Red Sea's Suez Canal. The disruption on world trade is evident in the number of companies using this container ship route - a 90 per cent decline compared to figures one year ago. (Photo by Sayed Hassan/Getty Images)

Red Sea attacks push global firms to seek overland shipping alternatives

An Israeli company is sending goods overland from the United Arab Emirates through Saudi Arabia and other firms are looking at different arrangements as US strikes fail to deter Houthi attacks.

KHALED DESOUKI/AFP via Getty Images

Will Egypt succeed in upping its multimillion-dollar IMF bailout?

North Africa's largest economy is working to increase its $3 billion IMF program to $10 billion as it faces its worst financial downturn in decades.