Episode One

 

 

 

  Oil producers in the Gulf region have lost an estimated $15.1 billion in energy revenues since the launch of the US-Israeli strikes on Iran, the Financial Times reported on Friday, citing estimates by analytics firm Kpler.  The US and Israel conducted coordinated strikes on the Islamic Republic in late February, triggering Iranian retaliatory attacks across the region. The escalating crisis effectively shut down the Strait of Hormuz – a critical route that handles roughly one-fifth of the world’s daily oil and gas supply – as Tehran barred ships from non-friendly nations, sending global crude prices soaring nearly 50% to $120 per barrel. The Strait of Hormuz is estimated to carry around $1.2 billion worth of crude oil, refined products, and liquefied natural gas (LNG) daily, based on average prices and volumes recorded last year. According to Florian Gruenberger of Kpler, as cited by the FT, current flows  through the waterway are  “negligible”  compared with ...

  Syrian leader Ahmed al-Sharaa has denied claims that he told German Chancellor Friedrich Merz that up to 80% of Syrians living in Germany could be convinced to return home within three years.  Merz  cited the figure and timeline on Monday during a joint press conference with al-Sharaa, a former jihadist commander who seized power in 2024 after overthrowing the previous government. Following criticism, including from within his own political camp, Merz claimed on Tuesday that the estimate had originated from al-Sharaa. Speaking later that day at an event hosted by the London-based think tank Chatham House, al-Sharaa dismissed the claim as   “exaggerated”  and said it did not reflect his position. He emphasized that any repatriation effort would depend heavily on Syria’s economic recovery.