Wakeup call: Oil crisis deepens

Head of the IAEA, Rafael Mariano Grossi, met with Iran's foreign minister in Tehran, Iran. (Image: Getty)

Mon, 07 Mar 2022

Oil hopes dashed – Hopes an Iranian nuclear deal would allow more Iranian oil to flow and take pressure off prices were stalled over the weekend after Russia and China made fresh demands. Meanwhile, US secretary of state Anthony Blinken said the US and EU were considering fresh bans on importing Russian oil and gas, without (somehow) further increasing global prices. Relentless Russian bombardment – Russian troops broke a ceasefire in the port of Mariupol, forcing the cancellation of an evacuation of civilians along a prot...

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