Oil reserves should only be used in supply emergencies – Portugal
Portuguese finance minister Joaquim Miranda Sarmento has said that the use of strategic oil reserves should be limited to supply emergencies.
He said the war in Iran has an impact on prices in Europe, but not on supply.
The minister added that it’s too early to estimate the economic effects of the war on the EU and whether the European Central Bank may make changes to its monetary policy.
The Lebanese President has called for “direct negotiations” with Israel to end the war in Iran.
Joseph Aoun accused the militant group, Hezbollah, of working towards the “collapse” of his country for Iran.
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Lufthansa extends suspension of Mideast flights
Lufthansa has extended the suspension of flights to key destinations in the Middle East.
Services to and from Dubai and Abu Dhabi, as well as Dammam in Saudi Arabia, are cancelled until 15 March, the German carrier said in a statement.
The suspension of flights to and from Tel Aviv in Israel was extended until at least 2 April, said Lufthansa, which also operates Eurowings, Austrian, Swiss and Brussels airlines.
Last week, it decided to halt services to and from Amman in Jordan and Erbil in Iraq until 15 March, Beirut until 28 March and Tehran until 30 April.
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