Saudis give European oil buyers no supplies for next month
\n New York
\nGlobal trade is facing its worst disruption in 80 years as supply chain bottlenecks in the Strait of Hormuz threaten global food and fertilizer prices, the World Trade Organization\u2019s (WTO) director-general warned.
\nNgozi Okonjo-Iweala, speaking on the sidelines of the WTO\u2019s Public Forum in Geneva, told Anadolu that the global trading system remains resilient, but the ongoing Middle East conflict presents a major test for the organization\u2019s 166 member countries.
\nShe noted that global trade in goods grew by an unexpectedly strong 4.6% this year despite geopolitical pressures, while 72% of all global commerce continued to operate under WTO rules. The initial projection for overall goods trade growth was 1.9% for the entire year, but the first-quarter growth rate of 3.2% outpaced expectations.
\nOkonjo-Iweala stated that a significant portion of the momentum was driven by the surging trade in artificial intelligence, which in turn was driven by low-or-zero tariff agreements covering $3 trillion in global semiconductor and chip shipments.
\nSaudis give European oil buyers no supplies for next month
\nSaudi Aramco told at least two oil refining customers in Europe that they will be allocated no crude next month under long-term agreements after the kingdom\u2019s key pipeline to the Red Sea was attacked, people informed of the decision said, Bloomberg reported on Friday.
\nEuropean customers normally receive Saudi Arabian crude on so-called term contracts, ensuring a steady flow of supply every month. Those deliveries will not take place next month, the people said, asking not to be identified because the information isn\u2019t public. The decision applies to all European buyers, they said.
\nAccording to Reuters, Saudi \u200bArabia earlier informed European customers that some crude cargoes would be cancelled after drone attacks forced the shutdown of its East-West pipeline, \u200bdamaging three pumping stations and disrupting oil loadings at \u200bthe Red Sea port of Yanbu.
\nUS strikes on school, sports ground were \u2018clear war crimes\u2019 not \u2018operational errors\u2019: Iran\u2019s deputy FM
\nIran\u2019s Deputy Foreign Minister Gharibabadi said on Friday that the United States\u2019 attacks in Minab and Lamerd were \u201cclear war crimes, not an operational error.\u201d
\nIn a post on X, Gharibabadi stated, \u201cHistory will not forget; in Minab, a school was painted with the blood of 168 children, and in Lamerd, the sports ground turned into a slaughterhouse for civilians.\u201d
\nThe deputy foreign minister added, \u201cAmerica cannot escape its responsibility by withdrawing from the Human Rights Council.\u201d
\nWhite House rejects UN report on alleged war crimes in Iran
\nSeparately, a United Nations fact-finding mission on Iran said it had \u201creasonable grounds\u201d \u200bto believe the US was behind two military strikes on a school and sports facility in Iran in February, and that \u200cthese constituted war crimes.
\nThe findings in the report by the Independent International Fact-Finding Mission on Iran, to be submitted to the UN Human Rights Council in Geneva, examined the US\u2019s conduct during the Iran war and the Iranian government\u2019s response to nationwide \u200bunrest that began in late December.
\nThe White House rejected the report, according to Al Jazeera. Principal Deputy Press Secretary Anna Kelly stated that the UN Human Rights Council had \u201caccomplished nothing for human rights while spouting unserious nonsense for decades,\u201d as per remarks carried by The New York Post.
\n\u201cThe only party in this conflict that has committed war crimes is the Iranian regime, which has murdered thousands of its own people, killed Americans overseas, executed acts of terrorism in the Strait of Hormuz, and launched indiscriminate attacks against its neighbours in the region,\u2019 the spokeswoman added, according to The New York Post.<\/p>\n","protected":false},"excerpt":{"rendered":"
Saudis give European oil buyers no supplies for next month New York Global trade is facing its worst disruption in 80 years as supply chain bottlenecks in the Strait of Hormuz threaten global food and fertilizer prices, the World Trade Organization\u2019s (WTO) director-general warned. Ngozi Okonjo-Iweala, speaking on the sidelines of the WTO\u2019s Public Forum […]<\/p>\n","protected":false},"author":2,"featured_media":567940,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-567941","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world"],"yoast_head":"\n