Kristian Coates Ulrichsen
Coverage of Kristian Coates Ulrichsen in the Nexus archive.
- Businesses report blocked payments from Saudi Arabia to the UAE, raising fears of worsening ties
Businesses report blocked or delayed payments from Saudi Arabia to UAE accounts, raising concerns about deteriorating relations between the Gulf neighbors. Saudi Arabia's central bank denied imposing direct restrictions, while tensions are linked to disputes over Israel, Yemen, and Somalia. Bilateral trade between the two countries exceeds $20 billion annually.
- Does OPEC Still Matter?
The United Arab Emirates announced its departure from OPEC effective May 1, marking the organization's most significant member loss in terms of oil production after nearly six decades of membership. The timing of the departure coincides with regional tensions, including the closure of the Strait of Hormuz due to conflict with Iran, which has elevated global oil price concerns. Four experts were consulted to assess the implications for OPEC's future relevance.