Deutsch
English
FrançaisSub menu: Home
Home / Index of Authors
Bellomo, Sissi
Subscribe to receive the texts of "Bellomo, Sissi" as RSS feeds
2 articles of this author have been cited in the European Press Review so far.
Arab unrest drives up oil price
As a result of the unrest in Egypt, the price of oil rose on Monday to 101,01 dollars a barrel. Since there is no threat of the Suez Canal being closed, this is a purely psychological effect, states the financial paper Il Sole 24 Ore: "Yesterday the Brent leaped energetically over the psychological threshold. For the first time since 2008 the price has climbed into the 3-digit zone. It was only a matter of time, ... geopolitical tensions have exploded the upper limit which was already showing signs of weakening under the pressure of increasing demand for oil and the keen interest of investors in basic commodities. ... Closing the Suez-Mediterranean oil pipeline and the Suez Canal would be catastrophic. Oil tankers from Asia would be forced to sail round the Cape of Good Hope, which would add 20 days to travel times and drive up the price of oil dramatically. This is an unlikely scenario. ... Whoever ends up in power in Cairo, they are unlikely to forgo the income from the Suez Canal, which last year brought in around 5 billion dollars."
» more information (external link, Italian)
More from the press review on the subject » Energy, » Economy, » Europe, » Global, » Egypt
Iran's nuclear programme prompts harsh sanctions
The European Union on Monday decided to impose tough economic sanctions against Iran in a bid to force Tehran into serious negotiations over its nuclear programme. The sanctions are unusually harsh this time but the business paper Il Sole 24 Ore still doubts whether this approach will be successful: "Brussels is sticking to its carrot-and-stick policy but the stick is particularly hard this time. … The sanctions go far beyond the measures adopted by the UN and even the US because they go straight to the heart of Iran's economy, its oil industry and its relations with key business partners. … The negotiations on its nuclear programme have been at standstill since October. Yesterday Tehran's senior envoy to the International Atomic Energy Agency, Ali Asghar Soltanieh, stressed the willingness of his country to return to the negotiating table 'without conditions' but despite the simultaneousness it's difficult to see a connection between this sudden readiness for dialogue and the new sanctions."
» more information (external link, Italian)
More from the press review on the subject » International Relations, » EU Policy, » Energy, » Europe, » Iran
© 2005-2012