Middle East: What you need to know for July 10
By Bloomberg
11 July 2017 |
8:01 am
Bloomberg's Tracy Alloway gives you the top First Word headlines on "Bloomberg Markets: Middle East." Watch continued coverage on Bloomberg Television for more on issues surrounding oil, investment, and markets.
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Vehicles were left burnt out and fuel pooled on the ground in Nigeria's Imo state on Sunday following an overnight explosion at an illegal oil refining depot. The state commissioner for petroleum resources, Goodluck Opiah, said late on Saturday that 100 people were killed in the explosion, remarking that they were "burnt beyond recognition."
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EU leaders are expected to present the proposed embargo later this week. Supporting the measure would be Germany's second turnaround in as many weeks with regards to Ukraine.
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The oil embargo could be upheld for years, the German Foreign Minister Annalena Baerbock said. Her Green ally Robert Habeck said complete independence from Russian oil was possible by late summer.
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The European bloc is moving closer to banning Russian oil with Germany changing course to support the embargo. But many questions remain open.
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