Oil drops more than $1/bbl as OPEC+ decision spotlights shaky demand
Oil prices fell more than a barrel on Tuesday due to skepticism about an OPEC+ decision to boost supply later this year.
scepticism
Citizen’s disappointment and the responsibility of politicians
There is a strong tendency among the electorate to vote punitively, with a segment of society refusing to vote for parties they see as part of the establishment. This anger is fueled by economic hardship, the state’s inability to provide basic services, and the rise of far-right parties like ELAM. The political system is perceived as weak and unable to address societal problems, with politicians focusing more on their image and social media presence. Society’s choices reflect a desire for revenge on the establishment, but this also leads to disengagement from politics. The responsibility for these choices lies with society, which must find answers to its own problems before the next elections.
Cyprus battles EU sanctions on Russian LNG export tankers, part of new package
The European Union is considering a new package of sanctions against Russia, including a ban on exports of Russian liquified natural gas. Some member states, such as Cyprus, Greece, and Malta, are skeptical of these measures, believing they could lead to negative consequences in the shipping industry. On the other hand, other countries view the proposed energy sanctions as a step forward. This would be the first time the EU officially targets Russia’s natural gas products. Cyprus has been directly impacted by Russian sanctions in the past, particularly in the administrative services sector.
City of London calls for financial regulators to find a growth , ‘mindset’
Britain’s regulators lack the mindset to boost growth and the financial sector’s global competitiveness, according to the City of London.
US election will have big impact on global economy
The US presidential elections are scheduled for November 2024 and are considered instrumental for the global economy due to the size of the US economy, the central role of the US dollar, and the country’s vast energy reserves and geopolitical importance.
Migration: Difficult to reassess areas of Syria as safe, MEP says
Cyprus is suspending the processing of asylum applications due to an increase in Syrian arrivals from Lebanon. The country wants EU partners to reassess the safety of certain areas in Syria to block asylum applications. MEP Fabienne Keller expressed scepticism, highlighting the challenges posed by Syria’s unstable situation and authoritarian leadership. Keller emphasized the need for support for Cyprus, as it faces a high number of asylum applications per capita. Meanwhile, MEP Tomas Tobé called for EU member states to unite and address the migration crisis collectively, urging a common position on Syria. Cyprus wants EU partners to reconsider the status of Syria, as it believes certain areas are safe for returnees.