Asia

The European powers accused Russia on Thursday of assisting Iran in targeting U.S. troops in the Middle East War and said that they would bring the matter up with the U.S. Secretary of State Marco Rubio during a G7 meeting of 'foreign' ministers in France. Rubio will attend the second day gathering of Western Democracies ministers. This is taking place in the midst of wars with Iran and Ukraine, uncertainty over the economy and growing unease about the unpredictable U.S. Foreign Policy under Donald Trump. Two Western security officials and a regional official near Tehran have confirmed that Russia provided...

Black smoke, burning tracks and blazing trains The footage posted by Ukrainian fighters online documents their repeated sabotage attack on a vast rail system being constructed by Russia in the occupied territory of Ukraine. Their efforts aren't enough to stop the rapid industrial expansion of Moscow. Orest, a Ukrainian fighter operating behind enemy lines, in the Donetsk Region, uses his military call sign for reasons of security. He said that the railroad was hundreds of kilometers long. "We're not all-powerful, unfortunately." According to the Kremlin these occupied areas represent "Novorossiya", New Russia. It's a hive of activity. A new investigation...

Executives said that Kuwait's?Jazeera Airways will offer 200,000?seats this April, which is about 40% of its pre-war network. The airline plans to?rebuild the operations?disrupted?by the U.S./Israeli war against Iran. In its fourth week of fighting, the war has claimed more than 2,000 lives, shattered global markets and led to Iranian strikes which have effectively'shut down' the Strait of Hormuz, disrupting global air traffic. Kuwait's airspace was closed when the conflict started on February 28. Its international airport and surrounding areas were targeted multiple times, prompting Jazeera?to shift its operations to Saudi Arabia. On March 11, the airline began transporting passengers...

Two sources said that the Russian Baltic ports of Primorsk & Ust-Luga - major export terminals - halted crude oil & oil product loadings on a Wednesday, after a massive Ukrainian drone attack sparked an blaze visible from Finland. The drone strikes on the Baltic ports are one of the biggest strikes against Russia's oil-exporting facilities during the four-year war, and will likely add to the uncertainty surrounding the global oil market amid the conflict in the Middle East. According to?videos that were posted on Telegram, massive plumes of black ash billowed into the air on Wednesday. According to the...

On Tuesday, at a business forum between the EU and Vietnam in Hanoi, financial deals and grants totaling 560 million euros ($650 million) were announced to support projects in Vietnam that promote 'clean energy' or'sustainable transport. The agreements include a 200 million euro deal between the European Investment Bank (EIB) and Vietnamese lender Techcombank, to support solar and wind power projects, energy efficiency and e-mobility. The French?development agency AFD, along with its private-sector subsidiary Proparco, signed loan agreements for 230 million Euros with Vietnamese state utility company EVN to help develop the Bac Ai hydroelectric plant. * The European Union...

On Monday, two tankers bound to India passed through the Strait of Hormuz as U.S. president?Donald Trump warned that he would attack Iran's nuclear power plants if?Tehran did not drop its threats which have effectively shut down the Gulf. Since the beginning of the Iran war on February 28, exports to Gulf nations, including Saudi Arabia and United Arab Emirates, have been blocked. Tehran has also launched attacks against ships and warned anyone passing through the southern strait in the Gulf. The two tankers, both with Indian flags, were transporting liquefied Petroleum Gas (LPG), which is mainly used for cooking...

The 'Dubai Media Office' said on Monday that authorities are?dealing?with a??fire? resulting??? from a drone attack near the Dubai International Airport. They added that there were no reported injuries. Dubai authorities stated that the drone attack had hit a fuel tank, and civil defence teams are working to control the fire. Gulf Arab states have been subjected to more than 2,000'missile and drone attacks' since the U.S. and Israeli war against Iran began on February 28. These include U.S. military bases and diplomatic missions, but also vital Gulf oil infrastructure and ports, airports and hotels, as well as residential and...

Sources said on Friday that China will ease the ban on BHP's Jimblebar Fines, an iron-ore product, until next week. This comes only one day after Beijing tightened restrictions on its third largest supplier. China Mineral Resources Group (the state-run iron ore purchaser) told domestic steelmills they could take "delivery of Jimblebar fins already at port for around a week," said three sources who were familiar with the matter, but on condition of anonymity because of the sensitive nature of the issue. Steelmakers and traders are excluded from the exception. CMRG?barred? steelmakers and traders? from purchasing Jimblebar?fines in September and...

India's Government said that an Indian flagged vessel, loaded with 80.800 metric tonnes of Murban oil from the United Arab Emirates, left Fujairah on Sunday. This was a day after sources reported that'some loading operations were suspended' at the UAE port. Sources said that oil loading operations in the UAE's Fujairah, a major hub for bunkering and crude export, have resumed following a Saturday drone attack and fire. However, it is unclear whether the operations are back to normal. India's Ministry of Petroleum and Natural Gas stated that the vessel, Jag Laadki was loading oil at Single Point Mooring when...

U.S. President Donald Trump told Fox News that he is 'looking into'?loosening the?shipping regulations under the Jones Act. He said in an interview aired Friday that he will 'look at it, but he did not give any...other details. Trump stated in an interview with Fox News Radio’s "The Brian Kilmeade show" recorded on Thursday evening, "We'll look, we'll look at everything and it's going to work out." Trump talked about military plans for 45 minutes, claiming that the U.S. The military has not yet targeted Iran's infrastructure, or its uranium stockpile. When asked about U.S. plans to take Iran's Kharg...

Sources said that China will lift a ban on BHP's Jimblebar Fines, an Iron Ore?product until the next week, only a day after Beijing increased restrictions against its third largest supplier. China Mineral Resources Group (the state-run buyer of iron ore) told domestic steelmills they could take delivery of Jimblebar fins already in ports for about a week. Three sources familiar with the situation, who spoke on condition of anonymity because the issue was sensitive, confirmed this. Steelmakers are the only ones who will be affected by this exception, and not traders. CMRG banned steelmakers and traders from buying Jimblebar...

Russian ESPO blend crude loaded from Kozmino in April and 'early May' has surged at a premium to Brent in Chinese and Indian port, traders reported on Friday. This is due to supply shortages caused mainly by the Iran -war and a softerening of america sanctions. The easing of?U.S. sanctions and the supply'shortages caused by the Iran -war' have fueled demand. After the United States allowed Indians, who were affected by a reduced Middle East oil supply, to buy Russian crude, prices for Russian crude jumped in comparison to Brent. Four sources said that the 30-day waiver granted to Indian...

Volodymyr Zelenskiy, the president of Ukraine, said that Ukraine uses long-range attacks on energy infrastructure in order to'maintain the pressure' on Russia following the easing of international oil sanctions against Moscow this month as a result the Iran War. Washington granted a 30-day exemption to countries this month to purchase sanctioned Russian crude oil and petroleum products that were stranded on the sea. The waiver was issued to stabilize the global energy markets, which had been roiled by conflict in the Middle East. Ukraine's European Allies who want to continue?pressure on Russia for it to end its four-year old war...

Russia's Kirishinefteorgsintez oil ?refinery, ?one of the largest in the country, halted processing on Thursday following Ukrainian drone attacks that caused fires in some parts of the plant, two industry sources said. This stoppage will exacerbate Russia's current oil supply problems as 40% of the country's crude oil exporting capability has already been closed due to drone attacks, tanker seizures and the Druzhba Pipeline?closure in Ukraine. Sources said that two primary and some secondary units caught fire following repeated drone attacks. One source said that it was difficult to predict the time for repair of the damaged units. They were...

Prime Minister Keir starmer announced on Thursday that he had authorized the military to board and arrest Russian vessels in British waters. This was to disrupt what his government claims is a network of vessels which enables Moscow to continue to export oil, despite Western sanctions. Other European nations such as France, Belgium, and Sweden have increased efforts to arrest Russia's shadow fleet of oil tankers that Moscow uses to fund its four year war against Ukraine. Starmer said he had approved of the more aggressive actions against the vessels, because Russian President Vladimir Putin "rubbed his hands" at the...

Investors flocked to safer assets as they awaited clearer signals on whether the Iran War was truly de-escalating. U.S. president Donald 'Trump' said Iran was eager for a?deal? after nearly four weeks fighting. This claim was in stark contrast with comments made by Iran’s foreign minister who stated that Tehran was reviewing an American proposal, but did not plan to enter into talks to end the conflict. Jim Reid, a Deutsche Bank analyst, said that the market's attention was quickly shifting to Trump's deadline of five days. "There is still plenty of uncertainty.. given that Iran has publicly rejected the...

Hungary has banned the gas transmission system operator of Hungary from holding auctions for shipments to Ukraine during the third quarter as it moves to reduce supplies to its neighbor in a dispute over oil flows. On Wednesday, Prime Minister Viktor Orban said that Hungary will gradually stop sending gas to Ukraine once oil flow to Hungary is restored through the Druzhba Pipeline. Hungary and Slovakia, who are the only countries in Europe to maintain relations with Moscow, have blamed Kyiv for a failure of?the Druzhba Pipeline, which supplies their refineries through Ukraine with Russian crude. Kyiv claims that a...

H&M, the Swedish fashion retailer, reported a slightly higher?rise in operating profit than expected for 'December-February. '?and forecasted that March sales would rise by 1%. In a press release, CEO Daniel Erver stated that "at the end of the third quarter, our well-received Spring collections contributed to positive sales trends which continued into March." H&M’s operating?profit, which includes Christmas shopping, increased for a third quarter in a row to 1.51 billion crowns (about 162 million dollars) from a year earlier 1.20 billion. The average forecast of an LSEG survey of analysts was 1.39 billion. This is despite a 1% decline...

Keir starmer, the British prime minister, said that he had 'given permission for military personnel to board and hold Russian ships. His government believes they are part of an alleged network of vessels which allows Moscow to export oil despite Western sanctions. The decision comes as other European nations are intensifying their efforts to disrupt Russia’s shadow fleet of oil tankers that Moscow uses to fund its four year war against Ukraine. Starmer said he had approved more aggressive actions against the vessels, because Russian President Vladimir Putin would likely be "rubbing his hand" at the sharp rise in oil...

India, the fastest-growing aviation market in the world, will?invest $3.06billion as part of a program to increase air transportation to underserved areas in the country. The country relies?on an aviation boom to boost job creation and drive economic growth. However, it has faced challenges such as inadequate infrastructure, taxation, and other issues. In 2016, the program Ude Desh Ka?Aam Nagrik (or "Let common citizens of a country fly") was launched. India announced a modified version on Wednesday that will see 100 new airports built and more subsidies provided to airlines so they can operate routes which would be otherwise unprofitable....

ADES International Holding, a Saudi Arabian oil drilling group, said that its core earnings in 2026 will?rise?by upto 44%, despite the U.S./Israeli war against Iran, which forced some of the offshore rigs to be suspended. ADES's bullish forecast is based on the company's geographic and scale diversification, as evidenced by its 123 rigs deployed across 20 countries. The war has disrupted shipping in the Strait of Hormuz and shaken global markets. In a press release, Chief Executive Mohamed Farouk stated that "we remain confident in our abilities to navigate the current climate?in an organized manner". ADES has announced that its...

Energy Minister Alparslan bayraktar stated on Wednesday that despite the Iran conflict, Turkey's dependence on Middle East crude oil is at a "manageable and minimal" 10% of total supplies. On a programme of the state-run Anadolu Agency, he stated that the war caused a "crisis in global energy security". He added that Turkey, as a "large energy importer" and a neighbor to Iran, has taken steps to diversify its energy supply. Bayraktar said that a $1 rise in the price per barrel of oil cost Turkey $400 million. When asked about the natural gas supply, Bayraktar replied that there have...

After the U.S. and Israeli air strikes against Iran are over, a new competition is likely to begin: the race for contracts to repair damaged oil and natural gas infrastructures and to restore shipping lanes – and influence – across the 'Middle East. The destruction does not stop in Iran. Fatih Birol, head of the International Energy Agency, warned that at least 40 energy assets in nine Middle Eastern countries have been "severely" or "very severely" damaged. It will take time to repair oil and gas fields and refineries, as well as pipelines, Fatih Birol said. Fatih Birol said that...

The Finance Ministry reported that Uganda's economy grew by 8.5% in the December quarter, up from 5.4% in the same period last year. This was due to strong consumer demand, high construction activity and other sectors. In a late-night post on 'the X platform,' the ministry said that construction on a $5 billion pipeline that will help Uganda export crude oil to 'international markets has reached 80%. The 1,443 km (897 miles) long (EACOP), will begin from the oilfields in western Uganda and end at the port of Tanga, on Tanzania's Indian Ocean coastline. After a long delay, the 'east...