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Egypt: Moody report lowers Cairo’s Suez Canal spirit

The Egyptian government’s expectations pinned on the Suez Canal have been dampened by a report from credit ratings provider Moody which claimed that earnings to be generated from the canal after the opening of the second waterway last week will come “at a much slower pace.” The construction of the second 32km-long Suez Canal and […]

Libya: US Treasury Slaps Sanctions on Oil Smugglers

The US Treasury has imposed new sanctions, including asset freeze, on several entities and individuals from Libya, Egypt and Malta believed involved in the smuggling of Libyan oil. The new sanctions from the Treasury’s Office of Foreign Assets Control (OFAC) have targeted six people, twenty-four companies and seven vessels. Assets belonging to targeted individuals and […]

US recognizes Algeria’s role in perpetuating Sahara conflict

The US is clearly blaming Algeria for perpetuating the Sahara conflict by hampering UN efforts to reach a mutually acceptable political solution based on compromise, in line with Security Council resolutions which since 2007 have been describing Morocco’s autonomy plan as serious and credible. This was the summary of an interview with Deputy Assistant Secretary […]