Latvian president calls for anti-corruption drive -EU hands out €546 million in cartel fines - BP predicts oil demand peak in late 2030s
The EU's biofuel policy was meant to help the climate. Instead it's been linked to loss of rainforest because of its reliance on palm oil. New rules aim to phase out the oil but the problem runs deeper, say experts.
Donald Trump's pledge that the US "won't put up with high oil prices for much longer" has led to speculation about how he may try to force OPEC's hand. Skepticism abounds over whether the price of gasoline will fall.
EU officials have expressed optimism that the new framework will allow firms to keep doing business with Iran. Businesses have already pulled out and the Iranian rial has plummeted as the threat of US sanctions looms.
The US said it would impose "unprecedented financial pressure on Iran." The refusal to grant EU businesses an exemption for Iran sanctions pushes Europe and the US further down a collision course over ties to Tehran.
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