North Asia

China's Ministry of Foreign Affairs has expressed its concern about U.S. and Israeli?strikes on Iran. It has urged for an?immediate halt to the fighting and urged all parties to avoid escalation, and resume dialogue and negotiations. In a Saturday statement, the ministry stated that Iran's sovereignty and security, as well as its territorial integrity, should be respected. China's Embassy in Israel issued a warning to Chinese citizens living in Israel on Sunday. The notice advised them to leave the country for Egypt as soon as they could or move to safer areas. Israel and the United States launched an attack...

The 'Russian Ministry of Transport announced 'on Saturday, that Russian airlines?had halted flights to iran and Israel. Israel announced that it launched a preemptive strike against Iran on Sunday, pushing the Middle East back into a new military confrontation. This has further dimmed hopes for a diplomatic resolution to the long-running dispute between Tehran and the West over its nuclear program. According to the ministry, Russian airlines, working with the ministry, Rosaviatsiya, the aviation watchdog, and the ministry, have worked out alternate 'flight routes' in advance in order to ensure that flights into the Persian Gulf countries are safe. The...

The Russian emergency ministry reported that seven bodies were 'found' in Lake Baikal, a frozen lake in southeastern Siberia. A tour bus with eight Chinese tourists was thrown into the water after the ice cracked as they crossed it on Friday. Igor Kobzev, the regional governor of Irkutsk, said on Telegram that one of the Chinese tourists had escaped. The prosecutors' office in the region also confirmed the opening a criminal investigation. Rescuers used an underwater camera to inspect the scene, and diving operations are planned. In a?statement, it said: "The depth of the accident site is 18 metres (59...

The Kremlin stated on Monday that Cuba's fuel situation is critical. Cuba has?unveiled a plan that will protect essential services and?ration fuel. Cuba outlined its plans for navigating the crisis on Friday, as the communist government dug its heels to defy a U.S. attempt to cut off the?oil supplies to the Caribbean Island after declaring Cuba an "unusual and?extraordinary" threat to U.S. security. "The situation in Cuba has indeed become critical." We are aware of it. Dmitry Peskov, Kremlin spokesperson, told reporters that the Kremlin maintains intensive contact with its Cuban friends via diplomatic channels and other means. Russia is...

The transport ministry reported that Russian airlines had to cancel some flights due to an outage in the Leonardo system, which was fixed. Aeroflot and other major Russian airlines had warned about possible disruptions to their schedules. In a statement, the transport ministry did not identify?the affected airlines or destinations? but said that officials would meet on Monday to "analyse what happened and minimize the impact on passengers." The Russian state-owned industrial conglomerate, Rostec,?said the problem with the Leonardo Booking System was caused by an "internal problem" at its provider, Sirena Travel. Aeroflot has been hit by a major cyberattack...

European stocks that would benefit from the end of Russia's conflict in Ukraine rose?on Friday, while defence stocks fell?after Ukrainian President Volodymyr Zelenskiy announced that Ukrainian and Russian teams would have their first trilateral meetings with U.S. officials. During his meeting with U.S. president Donald Trump, Zelenskiy talked about security guarantees and a post-war recovery plan. Austrian 'bank Raiffeisen' gained 6%. Wizz Air and travel company Tui rose 9% and respectively 4%. Ukraine-exposed miner Ferrexpo surged 19%. Buzzi, Heidelberg Materials, and Rockwool were among the best-performing stocks in an index of European construction and materials stocks. All rally when the...

The heaviest winter storm to hit Asia in 60 years buried Russia's Far East under metres of snow on Tuesday. A winter blast blanketed Asia with snow, causing flights in Japan's Northwest to be grounded and affecting Shanghai. The cold snap disrupted travel across the region. Roads were closed in China and air travelers were stranded in Japan. Parts of?Russian Far East are now paralysed. Scientists have said that the weather is related to the waves of cold air from the Arctic which are simultaneously affecting Eastern Russia, Asia and Eastern Europe. Theodore Keeping said that the jet stream, which...

According to shipping ministry advisories, Greece warned its shipping fleet to take the most stringent security measures when sailing into Russian Black Sea ports following drone attacks this week on two Greek-operated oil tankers. Drones hit two oil tankers, including one chartered from U.S. oil giant Chevron as they approached the marine terminal of the Caspian Pipeline Consortium on the Black Sea coast of Russia. Greek-operated tankers are among the largest in the world. They are crucial for trade along the Black Sea, where Bulgaria,?Georgia?, Romania?, Turkey?, and Russia?, who are at war with Ukraine?, which Moscow invaded?in February 2022?....

Four sources said that the U.S. government has filed court warrants for the seizure of dozens of more tankers connected to the Venezuelan trade. Washington is consolidating control over oil shipments into and out of this 'South American country. In recent weeks, the U.S. Coast Guard and military seized five vessels that either carried Venezuelan oil in international waters or had done so previously. The seizure was part of Washington’s campaign to remove Venezuelan President Nicolas Maduro from power, which culminated with U.S. troops capturing him on Jan. 3. The administration of Donald Trump has stated that it intends to...

Russian Railways announced on Monday that the board of directors has approved spending for 2026 of 713.6 billion rubles ($9.15 billion), down from this year's 890.9 billion roubles. The Russian government is looking at ways to support the country's largest commercial employer. This company has accumulated a?debt pile of 4 trillion roubles ($50.8 billion), despite falling revenues caused by a sharp drop in Russia's war economy. Russian Railways announced that 531.4 billion rubles of the approved expenditure will go towards maintaining the 'infrastructure, safety and security. Another 161.7 billion roubles is earmarked for the purchase of railcars, and 120 billion...

Sources in the industry said that insurance rates for war risks increased after Ukrainian drones attacked two tankers headed to a Russian harbor. Fears of more attacks prompted insurers to raise their prices. Black Sea is vital for shipping grain, oil, and oil products. Bulgaria, Georgia and Romania, as well Russia and Ukraine, share its waters. Shipping and insurance sources reported that war risk rates, which are determined by each underwriter and are based upon the value of the vessel, have risen to 0.5% from 0.4% a week earlier for calls to Ukrainian port. Sources said that the war risk...

The Russian government and Saudi Arabia's foreign ministry announced that Russia and Saudi Arabia signed an agreement on Monday to implement a visa free regime for business and tourist people from both countries for up 90 days. The agreement was signed in Riyadh, on the sidelines the Saudi-Russian Investment and Business Forum. The legal procedures to exchange notes and bring the document into effect will be followed. According to me, it will be possible to travel to our countries without a visa at the start of next year," said Russian Deputy Premier Alexander Novak in an interview on television. Novak...

Zsolt Hernadi, executive chairman of MOL, told ATV that the company received a total of 35,000 tons?of?Ukrainian?crude via the Druzhba pipeline at Ukraine's request?after a fire and a hit near the pipeline. "The pipeline suffered 'no damage.' All the more so because a fire started after the (Russian) attack, and then they began to pump Ukrainian crude from other storages into the pipeline. Hernadi stated that after the fire started, the Ukrainian colleagues asked us to take control of the oil in order to prevent further damage and a fire. "And we bought (took over)?35,000 tonnes of Ukrainian crude that?arrived...

Volodymyr Zelenskiy, the president of Ukraine, said that Ukraine would complete all technical work required to begin negotiations on all issues for its European Union accession within a few days. Zelenskiy urged the EU partners to set a date for Ukraine's accession to the EU. He said that this would be an important guarantee to the future security of the country as Kyiv negotiates to end the conflict with Moscow. "We are prepared, but not every leader of the European Union is... "I?mean not everyone is prepared to give Ukraine this chance," Zelenskiy said in a WhatsApp chat with reporters....

Calculations showed that the average daily natural gas supplies from Russia's energy giant Gazprom to Europe through TurkStream, an undersea pipeline, fell by 2.3% in comparison to a year ago to 54.5 millions cubic metres in February. After Ukraine decided not to renew a 'five-year agreement with Moscow, which expired in January 2025, the only remaining transit route for Russian?gas into Europe is through Turkey. The calculations based on data from the European Gas Transmission Group Entsog revealed that total Russian gas supplies to Europe via TurkStream were 1.52 billion cubic meters last month. This is down from 1.56 billion...

Three industry sources said that the Druzhba Pipeline exported some Ukrainian oil, and much larger volumes of Russian crude before it was damaged by a Russian strike a month earlier. The strike 'has caused a halt to supply', they added. Since January 27, oil shipments from Russia to Hungary and Slovakia via the pipeline they operate have been suspended. Kyiv claims that Russia attacked pumping stations in western Ukraine. This sparked a dispute within the European Union and Hungary's efforts to block any new sanctions against Russia. It was not previously known that the Druzhba Pipeline is used to export...

Three industry sources said that the Druzhba Pipeline exported some Ukrainian crude oil as well as much higher volumes of Russian crude before it was damaged by a Russian strike a month earlier. This has caused a halt in supply. Since?January 27, oil shipments from Russia to Hungary and Slovakia have been suspended. This follows what Kyiv claims was a Russian attack on pumping stations in western Ukraine. This sparked a dispute with the European Union, and led to a rift between Hungary and the EU. It was not previously known that the Druzhba Pipeline is used to export Ukrainian...

Hungary and Slovakia have agreed to establish a joint committee on Friday, to investigate damage to the Druzhba Pipeline in Ukraine. They also called on Kyiv for access to allow them to restart Russian oil flow. Hungary and Slovakia, the only European Union nations still importing Russian crude oil, were forced to stop receiving supplies via Druzhba on January 27. Both countries had to find alternative sources of supply and use state reserves. Ukraine wants Europe to stop purchasing Russian fuel. It says that a Russian drone struck the pipeline and they are making repairs as quickly as possible. Hungary...

Russia will increase its Urals crude exports to China in March to compensate for the reduction of purchases by India, which is a major buyer following a recent trade agreement with the U.S. India is expected to drastically reduce its intake of Urals cargoes next month. China is the top crude importer in the world, and suppliers are looking to China to fill the gap as Turkey, the third largest Urals buyer, lacks the processing capacity to handle more Russian barrels. Russia's main options on the current market are to either increase discounts or reduce production. One trader stated that...

The blocking of new EU sanctions against Russia, and funding for Ukraine, due to the stoppage in the last Russian oil flow into Europe via the Soviet-era Druzhba Pipeline, has caused a geopolitical conflict. What you should know What is DRUZHBA and what does it mean? Druzhba is an oil pipeline that transports crude oil via Ukraine from Russia to Eastern Europe. The Soviet-era connection was one of the'most important Russian oil arteries', transporting crude from West Siberia into Europe, including Belarus, Germany and other industrial countries such as Hungary, Poland, Slovakia, the Czech Republic, Ukraine, Hungary, Germany. According to...

Ukraine's president?Volodymyr?Zelenskiy stated on Wednesday that despite the requests of the?European Union? and the protests from Hungary, repairs to the Druzhba Pipeline, which transports Russian oil to Eastern Europe?cannot be completed quickly. Since January 27, Ukraine has said that a Russian strike on pipeline equipment in western Ukraine was responsible for the suspension of Russian oil shipments to Hungary and Slovakia. Slovakia and Hungary blame Ukraine for the extended outage. Zelenskiy, a reporter, said that the Russians had destroyed the pipeline connecting the Black Sea port Odesa to Druzhba. "This isn't their first strike. They continue to attack the energy...

Two industry sources have confirmed that the Tengiz oilfield in Kazakhstan is recovering more slowly than expected due to a disruption of loading at the marine terminal operated by?Caspian Pipeline Consortium near Novorossiysk (Russia) caused by bad weather conditions and 'drone alerts. Kazakhstan is experiencing a perfect storm in its oil sector, due to Ukrainian drone attacks on CPC, the company that pumps 80% of?its exports. A power outage also halted Tengiz production, which accounted for 40% of Kazakhstan’s output. Kazakhstan is restoring production in the supergiant oil fields, the deepest oil field producing oil in the world. However, the...

Two sources with knowledge of the situation on Tuesday said that Russia's monopoly oil pipeline Transneft has cut crude intake by around 250,000 barrels every day following a drone attack from Ukraine on a pumping station servicing major oil hubs and ports on Monday. This reduction in oil exports could worsen Russia's problems, as it struggles with lower shipments of its key products to India and Turkey due to stricter Western sanctions designed to force Moscow to reach a peace agreement with Ukraine. Since the end of January, Russia has also suspended its remaining oil exports to Europe. These include...

In an email response to questions, the National Bank of Hungary said that it had launched a probe to determine if certain transactions involving shares in oil group MOL violated 'rules against insider trading. The central bank is investigating whether the provisions on prohibited insider trading have been violated in connection with certain capital market transactions linked to MOL Plc. The central bank is investigating whether certain capital market transactions involving the issuer have violated the prohibitions on insider trading. The NBH added, "As the official process is still ongoing, it cannot provide any further details." MOL stated in an...