US Warns of Sanctions on Countries Buying Iranian Oil
Darwin, 16 April: The United States has warned that countries and institutions purchasing oil from Iran could face sanctions. US Treasury Secretary Scott Bessent issued…
Turkey and Syria earthquake
Losses from the earthquake that struck Turkey and Syria may approach $4 billion, according to ratings firm Fitch.
The death toll from the 7.8-magnitude earthquake that hit Turkey and Syria on Monday has risen to almost 17,500 and is only likely to grow further as rescuers continue to search the wreckage for survivors.
Economic losses are “impossible to predict since the situation is changing,” but they “look likely to surpass” $2 billion and potentially reach $4 billion “or more,” Fitch Ratings added.
It was also noted that poor insurance coverage in the region would keep insured damages to a minimum, perhaps under $1 billion.
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