Oil Prices Rise in Global Markets on Fears of Middle East Supply Disruptions
Darwin, October 21: Oil prices rose in global markets on Wednesday as traders grew concerned about potential disruptions to oil supplies in the Middle East,…
Darwin, 13 March: Western banks are temporarily closing their branches in Gulf Arab countries due to fears of possible Iranian attacks. Not only banks, but several other institutions are also taking similar measures, according to a report published by Al Jazeera on Thursday.
The media outlet reported that banks are shutting down their branches at least for this week, citing concerns for the safety of their employees.
The globally known HSBC bank said it is temporarily suspending its operations in Doha, Qatar. Meanwhile, Citibank and Standard Chartered have announced the closure of their offices in the United Arab Emirates.
Two days earlier, a bank in Iran was attacked by either the United States or Israel. Following that incident, Iran warned that it has the right to carry out attacks on banks and financial institutions linked to the United States and Israel.
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