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Global Affairs

Oil Prices Tumble on Expectations of 1.5 Million Barrels of Iranian Supply

Global oil prices fell sharply after US-Iran talks in Switzerland eased concerns over supply disruptions. Iran secured waivers for oil and petrochemical exports, potentially bringing 1.5 million barrels per day back to global markets. Brent crude dropped below $79 per barrel, while expectations of higher output from Iran and Iraq increased pressure on prices, raising hopes of lower fuel costs worldwide.

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Global Affairs

PM Shehbaz Meets Saudi Agriculture Minister

Saudi Arabia’s Minister of Environment, Water and Agriculture, Abdulrahman Al-Fadley, met Prime Minister Shehbaz Sharif in Islamabad to discuss stronger agricultural cooperation. The prime minister reaffirmed Pakistan’s deep-rooted ties with Saudi Arabia and welcomed progress on agricultural exports to the Kingdom. Both sides explored improving productivity through technology, research, development and efficient water management. Shehbaz Sharif also announced that a delegation of Pakistani agricultural experts would soon visit Riyadh to advance the partnership.

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Global Affairs

Border Crisis Hits Pakistani Exporters

The Pak-Afghan border closure since mid-October 2025 has reportedly cost Pakistani exporters $4.5 billion. A Pakistan Institute of Development Economics report says bilateral trade fell 28%, from $2.46 billion in 2024 to $1.77 billion in 2025. Pakistan’s exports have lost an average of $177 million monthly since the closure, while daily container charges have reached $150–$200. During January and February 2026, an estimated 10,000–12,000 containers remained stranded at major border crossings.

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Global Affairs

Pakistan Extends Airspace Ban on Indian Aircraft

Pakistan Extends Airspace Ban on Indian Aircraft Until September 24

Pakistan has extended its airspace restriction on Indian-registered aircraft until September 24, 2026. The ban also covers aircraft operated, owned or leased by Indian airlines and operators, including military flights. Indian carriers must continue using longer alternative routes for flights to Europe, the Middle East and Central Asia, increasing journey times, fuel consumption and operating costs. The latest extension was announced through a Notice to Airmen issued by the Pakistan Airports Authority.

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