Venezuela's acting President Delcy Rodríguez has signed a law that opens the nation's oil sector to privatization, reversing a tenet of the self-proclaimed socialist movement that has ruled the country for more than two decades.
The reform will undoubtedly be her government's signature policy as it positions the oil sector – Venezuela's engine – to lure the foreign investment needed to revamp a long-crippled industry. Rodríguez enacted the measure less than a month after the brazen seizure of then-President Nicolás Maduro in a U.S. military attack in Venezuela's capital, Caracas.
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President Donald Trump has signed an executive order that would impose a tariff on any goods from countries that sell or provide oil to Cuba, a move that could further cripple an island plagued by a deepening energy crisis.
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Stability. Consistency. Ever-changing complexity.
With language like that, deployed in separate meetings in three Asian capitals this week, government leaders forged closer ties driven in part by a figure halfway around the world: the president of the United States. And much of the time, they didn't even mention Donald Trump's name.
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Gold prices soared to a fresh record near $5,600 on Thursday, while oil rallied after Donald Trump ramped up geopolitical tensions with his threatened military strike on Iran.
The surge in safe-haven precious metals also saw silver hit another peak and has been helped by a softer dollar sparked by speculation that the U.S. president is happy to see the world's reserve currency weaken.
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Vietnam and the European Union on Thursday upgraded ties to a comprehensive strategic partnership, Vietnam's highest diplomatic level, as both recalibrate trade amid disruptions to global finance driven by U.S. tariff pressure.
The upgrade places the EU on the same diplomatic footing as the United States, China and Russia and was announced during a visit to Hanoi by European Council President António Costa.
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The leaders of Britain and China called Thursday for a "comprehensive strategic partnership" to deepen ties between their nations at a time of growing global uncertainty.
Neither publicly mentioned Donald Trump, but the American president's challenges to the post-Cold War order was clearly on their minds.
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The European Union on Thursday announced sanctions on 15 Iranian officials, including top commanders and officials of the paramilitary Revolutionary Guard, over Tehran's deadly crackdown on nationwide protests.
Six Iranian organizations, including bodies responsible for monitoring online content in Iran, were also included in the sanctions list.
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A conglomerate based in the United Arab Emirates said Wednesday it is closing its operations in Lebanon and laying off all employees following a dispute with authorities in the crisis-hit country.
The announcement by the Dubai-based Al Habtoor Group came two days after it said it will take legal action against Lebanese authorities over claims of investment losses of $1.7 billion.
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The ambitious free trade agreement between the European Union and India underscores the EU's efforts to ink new global partnerships at a time when the Trump administration has rattled a continent deeply tied to Washington on trade, defense and diplomacy.
The agreement announced Tuesday reflects a new priority for the 27-nation EU, the world's largest trading bloc, after U.S. President Donald Trump threatened to impose tariffs because of opposition to American control of Greenland, only to back off days later. It follows trade deals struck or pending over the past year with India, Japan, Indonesia, Mexico and the five Mercosur nations of South America.
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British Ambassador to Lebanon Hamish Cowell on Tuesday launched the British Lebanese Chamber of Commerce (BLCC) during a reception held at his residence.
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