Middle East & Central Asia News
LAST UPDATE: June 17, 2025
Iran approves new economy minister
Iran’s parliament confirmed Ali Madanizadeh, 43, as the new economy and finance minister with a vote of 171 in favour, amid rising inflation and currency devaluation. His predecessor was removed after failing to address these economic challenges.
Insight
Madanizadeh’s appointment signals Iran’s urgent attempt to stabilize its economy under deep-rooted US sanctions and regional instability. His academic background may support policy shifts, but his effectiveness will hinge on navigating both domestic pressures and external constraints.
Egypt Seeks Fuel Supplies as Mideast Crisis Cuts Israel Gas Flow
Egypt is urgently searching for alternative fuel sources to avert power shortages after disruptions to Israeli gas flows. The government is expected to launch a tender for up to 1 million tons of fuel oil, with deliveries planned for August.
Insight
This energy scramble highlights Egypt’s vulnerability to regional geopolitical tensions. It underscores the need for diversified energy partnerships and could accelerate investments in domestic power and energy resilience.
China’s Xi in Kazakhstan for Central Asia summit
President Xi Jinping arrived in Astana (June 16–18) for the China–Central Asia Summit, meeting leaders from five Central Asian nations to deepen cooperation on trade, investment, energy, tourism, customs, and to establish a shared summit mechanism every two years.
Insight
Xi’s visit reflects China’s strategic drive to counterbalance Russian influence in Central Asia and promote its Belt and Road agenda. Institutionalizing the summit framework enhances Beijing’s long-term regional influence.
