World Business Report

US allows Russian oil sales to tackle rising prices

The US treasury secretary, Scott Bessent, says he will grant India a 30-day waiver to buy sanctioned oil from Russia to help ease supply concerns in the global market. It comes as the Qatari energy minister warns that all energy producers in the Gulf region could shut down exports within weeks. Plus - we hear from Nepal where votes are being counted in what’s being dubbed the young versus old election.

The economic hardship for Iran and its citizens

What do people in Iran think about the war? We hear from Iranians across the country who tell us how life is changed. Also, we look at the life of foreign workers living in neighbouring countries, hearing from two Indian construction workers from Qatar. We ask how they are feeling since the war started. But others are willing to pay over $250,000 just to escape from the United Arab Emirates.

Can Gulf countries export oil before storage runs out?

As global oil prices continue to climb, crude oil supplies from Iraq and Kuwait could stop shipping within days if travel through the Strait of Hormuz remains virtually halted. Plus, China cuts its economic growth forecast to the lowest level since 1991.

How are shipping delays at the Strait of Hormuz impacting global business?

The US-Israel war with Iran brought the crisis in global shipping. We hear how it's affecting seafarers and speak to the Head of the International Maritime Organisation. Also, all provinces in Iraq have experienced a power blackout, which the government has attributed to a technical fault. We get the latest from Baghdad. And how a bag of money on a runway caused havoc in Bolivia.

Crude warning: Energy experts say Strait of Hormuz closure could force energy prices higher

Oil and gas traders took a breath on Wednesday after Trump pledged help in the Strait of Hormuz, but experts say there are still signs the price of crude could break through the $100 mark as hundreds of tankers are anchored and unused in the vital waterway. Meanwhile, TikTok has told the BBC is won't bring in end-to-end encryption in its popular social media app