"It's an important sign of political commitment to follow through with the Canada-Mexico Action Plan . . . to take meaningful steps to growing the bilateral economic relationship," says Council Distinguished Nonresident Fellow Julián Ventura.
The Iran war may have been the catalyst, but the UAE’s decision to leave the oil cartel is the culmination of years of geopolitical divergence with Saudi Arabia.
"Iraq is so dependent on their exports leaving the Persian Gulf," says Council Lester Crown Senior Nonresident Fellow Rachel Bronson. "I am really worried about unintended consequences."
"A two-week ceasefire is going to be very unstable," Council Lester Crown Senior Nonresident Fellow Rachel Bronson says. "You need to have some stability for tankers to move in and out, so anything that threatens that will continue this crisis and keep energy prices high."
“It’s the transportation of the things that you buy, the production of the things that you buy, and the ingredients of the things that you buy,” says Council Nonresident Senior Fellow Cécile Shea.
"What we're seeing, of course, is that the global economy runs on energy, and a significant shock like this will move through the system for years to come," Council Senior Nonresident Fellow Rachel Bronson tells Bloomberg Open Interest.
"Europe is clearly not happy. It's not a war that they were consulted about. It's not a war that they've chosen," says Council President and CEO Leslie Vinjamuri.
"A nuclear resurgence will bring hard questions, especially for the United States, which risks ceding ground to Russia and China if it fails to act," Council Senior Nonresident Fellow Rachel Bronson writes.
