Facebook Homepage Response.
The intriguing sidebar/s of the new Israel/Palestine-Hamas crisis.
China and Iran. China’s trade expansionism, and obvious need for more oil, kind of shakes. Chinese imports of sanctioned Iranian oil are running at the highest level in at least a decade as rising global prices make the discounted crude more attractive. Meanwhile, China also ups imports from Russia and Venezuela in the first nine months of 2023, according to an average of data provided by tanker trackers Vortexa and Kpler.
Saudi Arabia and China. This summer, Saudi Aramco bought a giant Chinese oil refinery, Rongsheng, which boasts of a processing capacity of 800,000 bpd and production capacity of 4.2 million metric tonnes (mmt) of ethylene per year. Saudi Arabia and Israel talks. And Egypt and UAE and Iran (along with Ethiopia and Argentina) join or align with BRICS. This war will definitely shudder these new scenarios or power alignments or end of conflicts in the region. (I thought "arms for oil" deals are over).
Meanwhile, I doubt Iran is still backing Hamas after Quds chief Qasem Soleimani was taken out for good by a US drone hit in 2020. But if this tempest continues, oil shipment activity at Strait of Hormuz, which Iran (and Oman) controls most might get derailed. China, which didn't budge in re Taiwan bait, gets "hit." Also, China and BRICS buddy India have eased recent border issues per NY Times. I think Ukraine is done. Focus is in the Middle East where power movements are happening that threatens G7 and its business interests. 🇮🇱☮️🇵🇸
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