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French Navy observing Russian shadow fleet tanker
August 4th, 2026 - 12:20 GMT
P. Choiaqo

P. Choiaqo

Russia preparing shadow fleet ahead of complete EU oil import ban

ALBAWABA - Russia is expanding its shadow fleet network in anticipation of the total and complete European ban on Russian oil and gas exports to the continent coming into effect on 1 January, 2027. The flagships of the fleet in question are Liquified Natural Gas (LNG) tankers and, over the past six months, at least eight of these tankers were sold and redirected to serve Russian oil exports bringing the ...
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Turkey claims most foreign funds are linked to EU member countries. (File photo)
July 25th, 2017 - 10:20 GMT

Foreign Investment in Turkey up 11.2 Percent in First 5 Months of 2017

Saudi Arabia offered its first Riyal-denominated Sukuk to investors on Sunday this week. (File photo)
July 25th, 2017 - 09:38 GMT

Saudi Arabia Gets Bids of $13.6 Billion for $4.5 Billion Domestic Sukuk: SPA

Oman recorded a deficit of 21 percent of its GDP in 2016 as the oil price plunged to its lowest level in years. (File photo)
July 25th, 2017 - 09:25 GMT

Oman Slashes Subsidy Bill by 20 Percent, Eyes Further Cuts

Newly-appointed Noon CEO, Faraz Khalid.
July 25th, 2017 - 08:45 GMT

Noon Appoints Namshi Co-Founder Faraz Khalid as CEO

The government policy announced earlier this year for import restrictions is bearing its fruits. (Facebook/ R. Boudraa)
July 25th, 2017 - 08:39 GMT

Algeria Announces 54 Percent Drop in Trade Deficit in H1 2017

By limiting jobs in grocery stores to Saudis, the country expects to generate more than 20,000 job opportunities for citizens. (AFP/ File)
July 25th, 2017 - 08:28 GMT

First Malls, Now Supermarkets: Saudi Arabia Bans Foreigners From Grocery Store Jobs

The recent decline in oil prices could weigh further on the outlook for the region's oil exporters. (File photo)
July 25th, 2017 - 08:12 GMT

Middle East Growth Dips in 2017 on Lower Oil Prices: IMF

WebMD has been looking for a buyer since February. (Web)
July 25th, 2017 - 07:56 GMT

WebMD Sold to Private Equity Firm in $2.8 Billion Deal

Local banks in Egypt are vying to win the super-rich with accounts serving their 'very specific' needs. (Shutterstock)
July 25th, 2017 - 03:29 GMT

Champagne and VIP Lounges: Banque Misr Launches Account for the Super-Rich

Flynas revives Beirut flights with low fares starting from SR299 ($80) one way all inclusive. (Fayez Nureldine/ AFP)
July 25th, 2017 - 01:41 GMT

Flynas Returns to Beirut With Flights From Riyadh, Starting November 1

Etihad is one of ten companies submitting non-binding offers for ailing Alitalia. (File photo)
July 24th, 2017 - 11:05 GMT

Etihad Makes Non-Binding Offer for Alitalia, for Total or Partial Takeover

Kuwait’s oil minister Essam Al-Marzouq says deeper cuts are a possibility for OPEC and non-OPEC countries. (Yasser Al Zayyat/ AFP)
July 24th, 2017 - 10:24 GMT

What to Expect From Today's OPEC, Non-OPEC Meeting?

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