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The United States has imposed a 100% tariff on imported drones, which recently came into effect, in a move aimed at protecting American industries. In another development, the UAE is seeking to accelerate the transition to a cleaner and more efficient energy system, with the non-oil sector in the UAE experiencing its fastest growth since December 2024. Additionally, European stocks recovered their losses thanks to falling bond yields. Meanwhile, Iran is experiencing diplomatic setbacks and facing a confrontation from European companies, and the oil market has so far avoided the shock of the Iranian conflict.
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