Saudi Arabia
A millionaire 'magic circle' lawyer who sailed the seas on a £17 million superyacht is facing bankruptcy after failing to hand a £19 million investment fund back to a Saudi princess, the Daily Mail reported. Former lawyer Ronald Gibbs has been locked in a court fight with the Saudi Royal Family after he agreed to set up and manage the multi-million-pound investment fund for Princess Deema Bint Sultan Bin Abdulaziz Al Saud in 2011.
Saudi Arabia and other major oil producers on Sunday announced surprise cuts totaling up to 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide, the Associated Press reported. Higher oil prices would help fill Russian President Vladimir Putin’s coffers as his country wages war on Ukraine and force Americans and others to pay even more at the pump amid worldwide inflation.