President Donald Trump lashed out at Opec with a warning to stop manipulating oil markets and piled pressure on close US allies in an interview that aired on Sunday with a threat to sanction European companies that do business with Iran.
The president, in an interview with Fox News' Sunday Morning Futures with Maria Bartiromo, also said he would not complete a new Nafta trade deal with Canada and Mexico until after the November congressional elections.
Mr Trump, who is spending the weekend at his golf property in New Jersey, said in a tweet on Saturday that Saudi Arabia’s King Salman bin Abdulaziz Al Saud had agreed to produce more oil.
The White House later walked back the president’s comments, saying the king said his country can raise oil production if needed.
Oil prices rose on Friday on worries that US sanctions against Iran would take away significant volumes of crude oil from world markets while oil demand worldwide increases.
Rising petrol prices could create a political headache for Mr Trump ahead of the November elections by offsetting Republican claims that his tax cuts and rollbacks of federal regulations have helped to boost the economy.
On Fox, Mr Trump directed blame at Opec, of which Saudi Arabia is a member. Asked if someone was manipulating oil markets, he said: "Opec is and they better stop it because we're protecting those countries, many of those countries."
The president also had tough words for other US allies. Earlier this year, to the chagrin of European partners, Mr Trump said he would pull the United States out of the Iran nuclear agreement secured by world powers.
He said in the Fox interview that European companies would face sanctions if they traded with Iran now.
“Of course. That’s what we’re doing, absolutely,” he said.
Mr Trump will leave for a trip to Europe this month for a meeting with Nato allies, whom he has criticised sharply for paying too little for their joint defence.
Trade tensions are likely to overshadow that trip. Mr Trump has imposed tariffs on steel and aluminium in response to what he calls unfair trade practices from Europe, Canada and other allies around the world, who have responded with retaliatory sanctions in kind.
On trade, the president said in the Fox interview that he was not happy with the North American Free Trade Agreement and would not agree on a new one until after the November elections.
“I want to wait until after the election,” he said.
England Test squad
Ben Stokes (captain), Joe Root, James Anderson, Jonny Bairstow, Stuart Broad, Harry Brook, Zak Crawley, Ben Foakes, Jack Leach, Alex Lees, Craig Overton, Ollie Pope, Matthew Potts
Teams in the EHL
White Bears, Al Ain Theebs, Dubai Mighty Camels, Abu Dhabi Storms, Abu Dhabi Scorpions and Vipers
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
Company%20Profile
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The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Company%20Profile
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