The borders drawn by Churchill and other politicians in the aftermath of the First World War have shaped the Middle East for almost 100 years. Now, however, sectarian upheaval combined with the US withdrawing from day-to-day engagement suggests that those boundaries could be redrawn as a result of the shifting balance of power on the ground. That process has started in northern Iraq and won’t stop there. The redrawing of the maps will have profound implications for the energy business. Read more
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