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Recent Editions
Risk Channel
North America
The Wall Street Journal reports that the International Energy Agency (IEA) has proposed the largest coordinated release of strategic oil reserves in its history - up to 400m barrels - to stabilize global crude prices following supply disruptions caused by the U.S.-Israel war with Iran. The plan, discussed at an emergency meeting of the agency’s 32 member countries, would more than double the previous record release of 182m barrels in 2022 after Russia’s invasion of Ukraine. The move aims to offset disruptions linked to the near closure of the Strait of Hormuz, through which about one-fifth of global oil supply normally passes. Member countries are expected to decide on the proposal imminently, as leaders also weigh broader energy responses amid concerns that surging oil prices could fuel inflation and economic instability.
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Risk Channel
UK/Europe
Swiss lender UBS has called on a US judge to protect it from new Holocaust-related lawsuits linked to the former Credit Suisse's activities during World War Two. During a court hearing, UBS's lawyer, David Burns, argued that a $1.2bn settlement from 1999 should cover all claims related to the Holocaust. The Simon Wiesenthal Center's lawyer, Faith Gay, opposes this position, claiming UBS is attempting to silence legitimate challenges to the settlement. The judge, Edward Korman, has yet to decide on the matter. An investigation into potential Nazi-linked accounts continues. UBS bought Credit Suisse in a Swiss government-arranged rescue in 2023,
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