The editorial team brings you the most important economic news of the past day, May 22, 2026.
The world is on the brink of a new energy shock due to the crisis surrounding Iran
Currently, around 80 countries have introduced emergency measures to protect their economies, anticipating a more dangerous stage of the energy crisis due to the war in Iran, writes the Financial Times. Governments are stepping up measures in anticipation of a critical tipping point, with traders warning that oil prices could jump again if the blockade of the Strait of Hormuz remains in place. The world is on the brink of a new energy shock due to the crisis surrounding Iran
The price of oil took a surprising turn
Oil prices rose in morning trade as investors questioned the prospects for a breakthrough in US-Iran peace talks, Reuters reported. However, the quotes are heading for a weekly decline. On a weekly basis, Brent fell 4.6 percent and the U.S. crude lost 7.6 percent, with prices fluctuating sharply on changing expectations around a possible peace deal. The price of oil took a surprising turn
EU with more sanctions against Iran due to the closure of the Strait of Hormuz
The Council of the EU announced today that it has approved the introduction of the possibility of imposing new sanctions against Iran over the closure of the Strait of Hormuz by the Islamic Republic. The decision provides for an expansion of the scope of the sanctions, which were originally envisaged because of Iran’s aid to Russia in the war against Ukraine and to armed groups in the Middle East and the Red Sea region. EU with more sanctions against Iran due to the closure of the Strait of Hormuz
EU stagflation at risk: Finance ministers warn
The European economy is at risk of stagflation due to a sharp rise in energy prices caused by the war against Iran, but EU governments must avoid excessive spending that could lead to a fiscal crisis or another interest rate hike by the European Central Bank (ECB), Reuters reported. “There are stagflationary pressures, but Europe (the EU) is resilient,” Kyriakos Pierakakis, Greece’s finance minister and Eurogroup president, said after a ministerial meeting in Nicosia.
The Minister of Energy discussed the contract with Botash with his Turkish counterpart
Turkey’s Energy Minister Alparslan Bayraktar and Bulgaria’s Energy Minister Iva Petrova discussed natural gas trade and strengthening energy connectivity at a meeting in Istanbul. This is clear from a publication on the official profile of the Turkish Energy Minister on “Facebook”. At a press conference yesterday, Petrova stated that the topic of revising the contract with the Turkish gas company “Botash” is a priority.
Source: Actualno
