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Iran’s oil sales plunge due to US sanctions but crude export remains high

The US sanctions against Iran’s oil industry have resulted in more than 80% exports contraction. However, Iranian crude oil sales remain high, around $500 million per month. That is the maximum level, experts say. The White House restrictions have had almost no impact on the country’s export of raw materials, in particular fuel oil and liquefied petroleum gas (LPG). According to Iran’s Oil Minister Bijan Zanganeh, oil supplies reached historic highs last month. 

FGE consulting company estimated that Iranian LPG exports ranged from 400 thousand to 500 thousand barrels per day. According to Refinitiv Eikon, Iran exported over 230 thousand barrels of fuel oil per day in August. Interestingly, the total volume of supplies from Iran went to the United Arab Emirates (UAE). With the current oil prices, such sales result in more than $300 million revenue per month, according to experts’ estimates. Kpler analysts say that the country’s LPG export was 514 thousand tons in July this year, or almost 200 thousand barrels per day. The total cost of crude oil has exceeded $180 million.

Read more: https://www.mt5.com/forex_humor/image/43009

Largest Russian Diamonds

Russia has got a great number of deposits where the mining of minerals and precious stones, including diamonds is carried out. For the last two years, a diamond weighing 181.68 carats extracted at Griboedov mine near Arkhangelsk has been the largest finding. See other marvelous diamonds found in Russian mines in our photo gallery

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Bank of Russia wants tricky access to markets

A lot of rookie traders gladly experiment in various financial markets. Eventually, they have good fortune on their side, though they have to deal with losses and disappointment on their path to success. However, aiming to safeguard retail investors from trade shocks, the Bank of Russia intends to set restrictions for amateur investors. They will be allowed to invest no more than 50,000 rubles annually (roughly 780 US dollars) in foreign stocks and other risky assets. 

The Bank of Russia is discussing a bill that will bring trading activities under control. Of course, the regulator underscores that it puts a high priority on protecting inexperienced traders from heavy losses. Nevertheless, the new legislation could deal a blow to leading brokers. According to their estimates, such restrictions will bar 80% of their clients from 75% of trading instruments. At present, two categories of investors operate in stock markets: professionals and amateurs. The bill proposed by the Bank of Russia divides private investors into qualified and unqualified. Besides, the Russian watchdog defines three categories of private investors. 

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China’s most valuable brands

Currently, Chinese goods and brands have gained worldwide recognition and are associated with high standards. 'Made in China' no longer means poor quality. According to Brand Finance report, which includes the world's 500 most valuable brands, there is a significant increase in the ranking of Chinese brands.

The total brand value of all Chinese companies rose to $1.3 trillion. Presently, they worth 19% of the top 500 global brands.

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Iran demands compensation from USA

This is the case when sanctions can turn out to be profitable. Iran must have decided to make money on the American sanctions. The country's authorities defined new conditions to return to the nuclear deal whereby the United States should pay $50 billion in compensation. According to Secretary of the Iranian Expediency Council Mohsen Rezai, Tehran needs conditions that go beyond the Joint Comprehensive Action Plan (JCPOA). If the Americans want to restore the deal, they themselves must comply with the agreement and pay compensation, he believes. The damage from the imposed oil restrictions was estimated at $50 billion. The official also said that the recent sanctions from the US against the National Bank of Iran had almost completely isolated the Islamic Republic and continued to do so. 

Not long ago, Iranian President Hassan Rouhani accused Washington of violating international laws and announced Tehran's readiness to return to negotiations on the nuclear deal on the condition that the US would lift all sanctions against the Republic. He suggests that the only reason for such action is that the United States wants to conquer the region and take over oil in eastern Saudi Arabia. This is the same reason why the country is fighting with China and other market players, the President of Iran thinks.

Read more: https://www.mt5.com/forex_humor/image/43390

Countries With Highest Standard of Living

According to experts from the consulting company the Henley & Partners, the combination of internal and external factors of the countries' development help to derive the Quality of Nationality Index (QNI).

It scores the nations on a scale from 0 to 100 as well as estimates citizenships on the basis of visa-free access.

Find out the countries ranked with the highest scores in our photo gallery

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OPEC in no hurry to OK more oil production cuts

 Oil producing countries have been trimming oil output worldwide. OPEC and its allies set this trend with the pact on oil production cuts. However, the cartel finds it premature to greenlight more cuts despite declining oil prices. 

Citing Mohammad Barkindo, OPEC Secretary General, the participants of the deal are committed to their individual quotas of production cuts. In case of full compliance with the individual quotas, the participants will slash the oil output by over 136% by the year-end, Mohammad Barkindo estimated. 

From his viewpoint, the ongoing turbulence in the crude market does not relate to the balance between supply and demand. He noted that geopolitical tensions dented the efficiency of the OPEC+ deal. One of the latest jolts was drone attacks on major Saudi Arabia’s oil facilities in late September. Nevertheless, despite force majeure, OPEC believes that Riyadh is capable of reviving its oil supplies to the full. 

Another geopolitical headwind is a standoff between Saudi Arabia and Iran. The Kingdom accused Tehran of the airstrikes on Saudi’s oil infrastructure. OPEC General Secretary thinks that Russia could act as a third party to settle the conflict between the old rivals.

Read more: https://www.mt5.com/forex_humor/image/43467

Top 10 Most Romantic Cities

The experts from the British booking service of Spa resorts Travel and Leisure has made curious research. They accessed 66 cities all over the world to find out the most romantic ones. To achieve it, they have counted the number of messages of a romantic nature with the hashtags #love, #inlove and #marry me on the Internet over the past six months.

Based on their total number, they invented an international romantic index. See the results of this interesting research in our photo gallery

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Riyadh warns of soaring oil prices

Saudi Arabia aims to assert its leadership among oil exporters at any cost. The Kingdom’s authorities are determined to squeeze its rival Iran out of the global crude market. 

Saudi Arabia's Crown Prince Mohammed bin Salman said that oil prices could skyrocket to incredible highs unless oil producing countries unite to step up pressure on Iran whose rampant oil output poses a threat to the global oil market. 

Such aversion to Iran is caused by the recent drone attacks on major oil facilities of state-owned Saudi Aramco. Houthi rebels from Yemen claimed responsibility for bombing. However, several countries including the US, Great Britain, Germany, and France believe that Tehran is to blame. In turn, Iran denied its involvement in the attacks. 

Following the air strikes, Riyadh slashed its oil output by nearly half or 5.7 million barrels per day. Remarkably, the Kingdom revived its crude processing facilities to their original capacity ahead of schedule. Saudi Aramco is expected to fulfill its commitment to customers through strategic oil reserves. 

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Ten significant achievements in space exploration

Universe exploration is no longer romantic as it used to be when people made their first steps in astronautics. However, it still helps to solve a number of practical and scientific problems.

Here are ten significant space achievements which formed contemporary science

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