The rise of radical Islam in the Middle East and the reintroduction of border controls in Europe is disrupting supply chains and raising costs for business, according to a global trade body. Unstable commodity prices, a more assertive Russia and the cross-border presence of Isis have heightened risk. Source: FT
Annual summits between China and central and eastern European countries are beneficial to the European Union as a whole, the Chinese government’s told Bulgaria’s foreign minister, brushing off concern that Beijing is seeking to divide the continent. Source: Reuters
European Union Trade ministers agreed on May 22 to begin free trade talks with Australia and New Zealand, a move that is aimed at demonstrating the bloc’s ability to form new alliances while trade tensions continue to grow with the administration of US President Donald J. Trump. Source: New Europe
BP has stopped work on the Rhum gas field in the North Sea, which it has a 50-percent stake in, sharing it with the National Iranian Oil Company. The company cited the reintroduction of U.S. sanctions against Tehran as reason for the suspension. Source: Oil Price
