🇮🇷💡 Iran’s Energy Crisis Hits ‘Dire’ Point as Industries Are Forced to Shut Down, - NYT
Government offices in Iran are closed or operating at reduced hours. Schools and colleges have moved to online only. Highways and shopping malls have descended into darkness, and industrial plants have been denied power, bringing manufacturing to a near halt.
🇮🇷💡 Iran’s Energy Crisis Hits ‘Dire’ Point as Industries Are Forced to Shut Down, - NYT
Government offices in Iran are closed or operating at reduced hours. Schools and colleges have moved to online only. Highways and shopping malls have descended into darkness, and industrial plants have been denied power, bringing manufacturing to a near halt.
The Russian invasion of Ukraine has been a driving force in markets for the past few weeks. Telegram was co-founded by Pavel and Nikolai Durov, the brothers who had previously created VKontakte. VK is Russia’s equivalent of Facebook, a social network used for public and private messaging, audio and video sharing as well as online gaming. In January, SimpleWeb reported that VK was Russia’s fourth most-visited website, after Yandex, YouTube and Google’s Russian-language homepage. In 2016, Forbes’ Michael Solomon described Pavel Durov (pictured, below) as the “Mark Zuckerberg of Russia.” Overall, extreme levels of fear in the market seems to have morphed into something more resembling concern. For example, the Cboe Volatility Index fell from its 2022 peak of 36, which it hit Monday, to around 30 on Friday, a sign of easing tensions. Meanwhile, while the price of WTI crude oil slipped from Sunday’s multiyear high $130 of barrel to $109 a pop. Markets have been expecting heavy restrictions on Russian oil, some of which the U.S. has already imposed, and that would reduce the global supply and bring about even more burdensome inflation. Founder Pavel Durov says tech is meant to set you free
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