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US doctor contacts Ebola patient in Uganda heading to Czech hospital
Czech officials confirmed that a U.S. physician?will transfer from Uganda to a hospital in Prague, on Wednesday, after coming into contact with an Ebola-infected patient. Adam Vojtech, the Health Minister, said that the doctor showed no signs of the deadly virus. He would be hospitalised for precautions after a request from the United States. Vojtech said at a press briefing that there was no risk to the public. He said that strict protocols will be followed in the transfer and the patient will be isolated for a period of three weeks. In eastern Democratic Republic of Congo, more than 130 deaths are linked to the Ebola outbreak. Cases have also been confirmed in neighbouring Uganda. The Faculty Hospital Bulovka, which specializes in infectious diseases in Prague, announced late on Tuesday that the patient would be transported in a isolation unit and expected to arrive Wednesday evening. The U.S. CDC announced on Tuesday that Germany had also accepted a U.S. national who contracted Ebola - in the Democratic Republic of Congo - for treatment. Vojtech stated that the U.S. requested Czech help due to the country's reputation as a leader in infectious diseases. World Health Organization Director General?Tedros Ghebreyesus?declared on Saturday the outbreak of the Bundibugyo virus strain as a public-health emergency of international concern. This was the first time that a WHO director has done this before convening a emergency committee. Experts are concerned by the outbreak because it spread undetected for weeks across an area that was densely populated and ravaged with widespread violence. The outbreak that occurred in eastern Congo between 2018 and 2020 was the second-deadliest ever recorded. It killed almost 2,300 people. (Reporting and editing by Andrew Heavens, Alex Richardson, and Jason Hovet)
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Special Report-Iran consolidates control of Hormuz through island checkpoints and diplomatic deals, as well as sometimes 'fees.'
The crew of the tanker gathered courage and navigated carefully along the route designated by Iran. They hugged the coast and manoeuvred their massive vessel between island checkpoints in the Strait of Hormuz. Agios Fanourios 1, a 330 metre long vessel, loaded with Iraqi crude and bound for Vietnam had been bottle-?up near the coast of Dubai, since late April. On May 10, the tanker set out for the Strait of Hormuz after an agreement with Iran, overseen by Iraq’s Prime Minister. The Iranian orders to the tanker are part of the complex multi-tiered system that Iran has used for clearing vessels across the Strait of Hormuz. With Iran now in de ?facto control of the strait, the system can involve government-to-government arrangements, intense vetting by the Iranian government and sometimes fees in exchange for safe passage, has found. The ship's progress in Vietnam, Iraq and Greece was closely monitored by two people, who were interviewed by. The transponder would go dark periodically, but I was still able to sail on the Agios Fenourios. A projectile struck another ship nearby that day and caused a small fire. The Agios Fanourios 1 icon was displayed on screens late May 10. According to an Iranian official, speedboats from the Islamic Revolutionary Guard Corps stopped the tanker as it passed?Hormuz Island. The IRGC soldiers who were initially letting the ship through the strait now order the ship to stop. The Iranian official stated that there was a suspicion of smuggled goods and they wanted to inspect the vessel. The vessel was given Iranian permission to continue a few hours later. This turned what would normally be a five-hour journey through the Strait into a two day ordeal. One of the people who was monitoring the trip said, "Once we heard that Agios had passed Hormuz we breathed a huge sigh," Eastern Mediterranean Shipping, the manager of the ship, and six other people who knew about the passage confirmed that no payments had been made. Konstantinos Sakellaridis wrote that he had "reasons to believe" that Iranians were oblivious to the transit Agios Fanourios I due to pressure from Iraq and Vietnam. The Iranian government has not responded to requests for comments about the new mechanism, or the voyage of the Agios fanourios I. Iran’s grip on Strait of Hormuz - the conduit for a fifth of global oil supply - has caused the world economy to be in turmoil. In order to reveal how Iran has been consolidating its control over the strategic chokepoint, we interviewed 20 people who had knowledge of this evolving mechanism. These included Asian and European shipping officials and Iranian and Iraqi official, as well as Iranian and Iraqi officials. We also reviewed Iranian documents relating to the vetting procedure and analysed the movements of ships. Together, these documents provide a rare glimpse into the Iranian scheme, in which the powerful Islamic Revolutionary Guard Corps plays a key role. The sensitive nature of the topic made all sources request anonymity. Some details about the Agios fanourios I's journey could not be independently confirmed, but they matched the accounts of multiple maritime officials who were involved in managing the same route and navigating it for cargo ships as well as tankers. According to the U.S. Military, by early May, there were around 1,500 vessels in the Gulf with 22,500 sailors on board. This bottleneck is caused by Iran's ability, from the coast of the Gulf, to hit ships in the strait. The conflict has become the worst energy crisis in history, according to the head of the International Energy Agency. The U.S. Navy responded by imposing a blockade on Iranian ships and their cargo, with a cordon around the Strait. A trickle of ships have made it through the waterway. According to an unpublished analysis from the U.S. company SynMax Intelligence, between April 18 and may 6, less than 60 ships passed through. In the days before the war, 120-140 ships would pass through the strait every day. About half were oil tankers. U.S. laws prohibit American citizens from transacting with the Iranian government. Non-Americans who deal with Iranian entities may also be subject to "secondary sanctions". Many Western governments also maintain their own restrictions and sanctions relating to Iran. The U.S. Treasury Department released a statement May 1 warning about the risks associated with making payments to the Iranian regime or obtaining guarantees from them for safe passage. The new Iranian mechanism includes a tiered system giving preference to ships linked to its allies Russia and China, followed by countries such as India and Pakistan with close ties to Tehran, and then government-to-government agreements that let vessels like the Agios Fanourios I pass, found. The U.S. Department of Treasury responded to questions about the system by saying that it was prepared to take action against foreign companies supporting illicit Iranian trade. It is not possible to determine independently how many ships have used this scheme. Iran said that ships connected to the United States and Israel, who launched aerial attacks against Iran in late-February, may not be allowed to cross the Strait. Two European shipping sources said some vessels that aren't covered by government-to-government deals are paying Iranian authorities upwards of $150,000 to secure safe passage through the Strait of Hormuz. Two senior Iranian officials said that security and navigation fees are charged to ships, but the amount varies depending on the cargo. Two senior Iranian officials did not provide specific figures but said that "not all countries pay these fees." Could not independently confirm whether the amount levied against vessels or the total amount flowing into Iranian coffers was accurate. "THE NEW NORMS" Under international maritime law governments are not allowed to charge for the safe passage of a strait. As long as all ships are treated equally, fees can be charged for security or service. Secrets are kept about these payments and the names ship owners who paid Iranian authorities for their vessels to be retrieved, because such payments would violate U.S. sanctions against Iran's government. Could not determine the method of transfer or which Iranian entity received the money. According to two maritime insurance specialists, in addition to being charged, violators will also lose their insurance coverage if they make payments to the IRGC that would benefit it, as?it is a terrorist organization internationally designated. Danny Citrinowicz is a former Israeli Intelligence officer who specializes in Iran research and analyses. Citrinowicz said that the Iranian regime's approval was required to open or close the Straits. He is currently working at Israel's Institute for National Security Studies. "Some will pass through due to political alliances. Others will pay a fee, and others will be sent back. "This is the new normal." China's Ministry of Foreign Affairs, in response to Iran's findings regarding its new control system, called for the opening of the Strait of Hormuz and expressed concern about "future arrangements" for the strait. The statement from the Ministry said that "such arrangements should comply with the law and practice of international law, and take into consideration the legitimate security concerns and demands of coastal states as well as the legitimate claims of regional countries and international community." Checking for affiliation According to three Iranian and one European source, outside of government agreements the process for securing Iranian permission to transit includes a detailed vetting by the Islamic Revolutionary Guard Corps (IRGC), Iran's elite combat force. According to the sources, the IRGC examines a document called an affiliation that is provided by a ship operator or owner and submitted via an intermediary. The European shipping source said that the affiliation check was to determine if there were any connections between the vessel and the U.S. The Guards review documents for about a week, and they may also want to inspect the ship during this time, according to the source. According to documents sent by Iran's Persian Gulf Strait Authority to sources in the shipping industry, the IRGC requires shipowners to disclose information including the value and origin of the ship's cargo as well as the nationalities of its crew. In recent weeks, the authority was established to tax and approve vessel transits. According to three senior Iranian officials, the vetting of ships is done by Iranian state institutions, including the Ports and Maritime Organization, Ministry of Industry, Mine and Trade, national shipping organization, and security overseer of Supreme National Security Council. Officials said that the IRGC which oversees Iranian security is also involved in evaluating the vessels. The countries must also contact Iran's Foreign Minister to ask for permission. One of the officials stated that the minister then forwards them to the Supreme National Security Council which includes representatives of Mojtaba Khamenei and the IRGC. The official added that "a decision is made and then communicated to all relevant bodies, including the IRGC," he said. The official added that the IRGC gives the necessary coordinates and instructions for safe passage. According to two sources familiar with the deal, the Iraqi government and its state-owned oil marketer SOMO worked together to negotiate a deal with Iran for the Agios Fanourios I under the supervision then-Iraqi Premier Mohammed Shia al-Sudani. Three Iraqi officials from the oil ministry said that they had sent the Iranians the crew and manifest information for the Agios fanourios I before the passage. The Iraqi government has not responded to a question about its arrangements with Iranian officials or details about Agios Fanourios. Other countries have negotiated different agreements. India is one of them. It imports 90% of its oil and 50% of its natural gas. A large portion of this passes through Hormuz. According to an official in the Indian shipping ministry, New Delhi uses its embassy at Tehran to communicate with Iranian authorities including the IRGC, the Iranian navy and other Iranian agencies. These entities vet the ships India wants to leave the Gulf. "Once all is verified, the captain of the ship is given a course to follow and the ship leaves the area under the guidance of the Iran Navy. Officials said that captains were strictly instructed to adhere to the "given route". He added that ships are instructed to turn off location transponders, and to not use satellite communication. An Indian source familiar with the process said that after Iran gives permission, the Indian Navy contacts the shipmasters of Indian flagged vessels in the Gulf directly and provides them with waypoints. The Indian navy told us, too, that you should stop if they ask you to. The source stated that "if they tell you to move you should move," and we have been following these instructions. India's Shipping Ministry announced on May 14 that 13 Indian flagged vessels had cleared the Strait of Hormuz while another 13 remain west of the waterway. India, Russia Pakistan and Vietnam didn't respond to our requests for comments about Iran's control of the Strait. FRAUGHT? According to three Iranians and two sources from the shipping industry, clearing multiple Iranian waypoints is a common requirement for many ships as they leave the Gulf of Aden and enter the Strait of Hormuz. These are often manned by armed personnel. The Agios fanourios I passed through the Iranian military checkpoints in Abu Musa, Greater Tunb, and Larak. These coordinates were verified using the publicly available location data of the ship and other sources that knew about similar journeys. According to an Iranian official who was familiar with that incident, when the vessel approached Hormuz Island at the mouth of the strait it was briefly halted by the IRGC speedboats. He claimed that there was some information on possible smuggled goods aboard. He said that the information was incorrect. After a short period of confusion, the Agios fanourios I resumed its journey. The Indian shipping industry source stated that a similar chaotic communication was likely the cause of an attack on two Indian flagged ships trying to cross the Strait of Hormuz in the last month. Indian sailors trapped in the Gulf are scared by these incidents. The Indian shipping source said that these ships do not have any armor or other protection. "The bullets penetrate through." He added that the only targets for shooters are the crew quarters. "They cannot shoot at the tanks, because they are carrying flammable liquids." A bulk carrier sailed by an Indian sailor through the Strait of Hormuz. The ship waited for permission from the IRGC before it left the Gulf. The Iranian navy then established contact and instructed the ship to proceed towards Larak Island. The naval officials then ordered the captain of the ship to reveal the details about the ship and display its flag. They began talking with the shipping company. The Iranians asked repeatedly about the crew's nationality. He said that "after a few hours, the IRGC gave the captain a route." The ship, escorted by smaller Iranian navy vessels, was instructed to steer with caution for fear of mines. He said, "It was an incredibly frightening sight." "I cannot even imagine in my wildest fantasies going to sea during a conflict." Even if vessels make it to the other side of the Strait of Hormuz the ordeal may not be over. The Agio Fanourios 1 was caught in the U.S. Navy blockade a day after leaving Iranian waters. The tanker was tethered to a triangle for six days as the American military processed its paperwork. "U.S. "U.S. forces ordered the Malta-flagged ship to turn around in order to enforce the ongoing blockade," Capt. Tim Hawkins is the spokesperson for U.S. Central Command. Sakellaridis said that Vietnam had pressured the United States into letting the ship through. He said there was no reason to stop it in the first place because "the vessel and cargo did not have any Iranian involvement." It is not possible to determine how many ships the Americans have stopped since the blockade began on April 13th. The Agio Fanourios I, which was seized on April 13, was released without explanation on May 16. The ship is loaded with 2,000,000 barrels of crude oil and will be heading to Vietnam. Reporting by Devjyot Sharma in New Delhi, Gavin Finch, Gavin Finch, Gavin Rasheed, Parisa Hafezi, Ahmed Rasheed, in Baghdad. Florence Tan, Jonathan Saul and Nerijus Adomatis contributed additional reporting. Rene Maltezou, Sunil Kataria, Sunil Adomaitis and Florence Tan also provided editing. Lori Hinnant edited the article.
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EU selects tungsten and rare earths as first stockpiles to curb China's dependence
Three sources familiar with the issue said that?tungsten and rare earths, as well as gallium, were shortlisted for the first joint stockpile of critical minerals to reduce reliance on China. One of the sources, and a third source, said that the EU was also in talks with major ports, including Rotterdam, the largest port in the Netherlands. They are looking at storing the minerals there. This is one of the most concrete measures taken by the EU to protect its economy against Beijing's dominance over the production of critical minerals, which are vital to defence, semiconductors, and energy transition. They are also often used to leverage trade disputes with Western countries. Western allies - including the United States - are racing to stockpile their own minerals after Beijing's export restrictions sent shockwaves through the global economy. One source said that graphite and germanium were expected to be the final mixture, while two sources said that magnesium was on the list of?priority materials. The majority of minerals considered, with the exception of magnesium, are on NATO's 12 essential elements for the defence industry. Metals are also essential for aircraft, cars, semiconductors, smartphones and renewable energy infrastructure, including wind turbines. The European Commission announced its stockpile project in December. In working groups headed by Germany, France, and Italy, ten EU countries are participating in the planning. France's G7 presidency has prioritized diversifying vital mineral?supplies, while the EU is also in parallel discussions to establish a permanent secretaryate so that the?work continues beyond rotating presidencies. Adolfo Uroso, Italy's Industry minister, said that EU officials visited Porto Marghera in Venice on Tuesday to evaluate its viability as a hub for storage. Urso has previously stated that the larger port of Trieste is also in the running to become a Mediterranean hub. A spokesperson for Port of Rotterdam declined to comment immediately. A spokesperson from the European Commission declined comment. Reporting by Julia Payne, Pratima Dasai and Bernadettebaum. Editing by Bernadettebaum.
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Six million barrels of crude are pumped out of the Strait of Hormuz by tankers
Shipping data from LSEG and Kpler revealed that three supertankers crossed the 'Strait of Hormuz' on Wednesday, carrying oil bound for Asian market after waiting for more than two month in the Gulf with?6 millions barrels of Middle East Crude on?board. Another was entering. These'ships' are among the few supertankers that have left the Gulf via a transit route Iran has instructed ships to use. The U.S. and Israeli war against Iran, which began on 28 February, has significantly curtailed shipping in the Strait of Hormuz. This is the route through which approximately one-fifth of world oil and energy flows. Data showed that the South Korean flagged Very Large Crude Carrier Universal Winner was leaving the Strait of Hormuz after two Chinese tankers left on Wednesday. Kpler data shows the tanker is heading to Ulsan where the country's biggest refiner SK Energy, located, will discharge its cargo on Wednesday. SK Energy refused to comment. HMM, owner and manager of the VLCC could not be reached immediately for comment. Shipping Risks 20,000 seafarers are still stranded in the Gulf on hundreds of ships. According to an analysis of ship tracking data, the number of vessels entering and leaving the Strait has been around 10 on average in the last few days. This includes cargo ships and other vessels such as chemical and liquid petroleum tankers. Crude oil?tankers represent a very small percentage of the total traffic. According to satellite data and Kpler data analysis by data analytics specialists SynMax, around 10 ships have crossed the Strait in the last 24 hours. This includes small cargo ships as well as a chemical tanker that has entered the Gulf. In a Tuesday note, the U.S. Navy's Joint Maritime Information Center stated that "the operating environment is still high-risk based on recent attacks against ships in the region." In the past 48 hours, Iranian units have displayed a number of instances where they have acted aggressively and assertively. On Wednesday, shipping industry associations issued new guidelines for ships that want to navigate through the Strait. They cited multiple navigational hazards including the possibility of being attacked by drones or mines, but also the unpredictable traffic congestion, and the "reduced oversight" of the military. The associations stated in their guidance that "Hundreds of vessels are still unable to pass through the Strait of Hormuz. If navigation conditions return to normal, then the movement of these vessels in the Strait may pose a significant navigational risk." CHINESE TANKERS Data showed that the Chinese VLCC Yuan Gu?Yang had loaded 2,000,000 barrels of Basrah crude from Iraq on February 27, just a day prior to the start of the U.S. and Israeli war against Iran. According to data, the vessel chartered by Unipec - the trading arm of Asia's biggest refiner Sinopec - which left the strait on Wednesday is expected to arrive at Shuidong Port in southern Guangdong Province on June 4, to discharge its cargo. The data showed that Ocean Lily, a Hong Kong-flagged VLCC, loaded 1,000,000 barrels of each Qatari al-Shaheen crude and Iraqi basrah between late February to early March. The ship, owned by Chinese giant Sinochem, will arrive at Quanzhou Port, in eastern Fujian Province, on June 5, to unload its cargo. Sinopec and Sinochem, who own and manage Yuan Gui Yang did not immediately respond to comment requests. VLCC Yuan Hua Hu, which was carrying 2 million barrels iraqi oil, left the strait last week and headed for Zhoushan Port in eastern China. LSEG data shows that the VLCC Grand Lady, flying the Cypriot flag, entered the Strait of Hormuz without its transponder. LSEG data shows that the empty tanker has been anchored near Dubai. Eastern Mediterranean Maritime, the tanker's manager, could not be reached immediately for comment.
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Airbus: fighter project collaboration is not limited to the core warplane
He said that despite disagreements with Dassault Aviation, the head of the 'European aerospace group Airbus' remains confident about the 'connected systems, being developed for FCAS fighter project. Guillaume Faury, the CEO of Airbus, said at an Airbus event held in Germany that France, Germany, and Spain are considering the future for the troubled project, but did not give a timetable. Sources in the defence industry say that discussions 'to resolve a dispute? between Airbus and Dassault regarding development of a 'flying demonstrator? have stalled. Airbus suggested splitting the program into two fighters, while "maintaining" the planned connective architectural. Faury said at the Airbus Defence Summit that "the fighter is?at the heart of?the?difficulties today. There are different ways to move forward. I'll leave it up to the governments to decide what they would like to do." Faury asked if the two companies can work together at the Eurofighter complex north of Munich. He said: "At Airbus we collaborate with Leonardo, BAE Systems and BAE Systems on the 'Eurofighter'... it works." But not all companies can cooperate with each other. This is?the problem we face today". Dassault declined to comment. It had previously stated that it was willing to collaborate but wanted clearer lines of control, with Dassault leading the core fighter and Airbus leading the other systems including the so-called Combat Cloud and associated drones. (Reporting and editing by Louise Heavens, David Goods and Tim Hepher)
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Xi and Putin criticize the US together on nuclear, security issues
China and 'Russia' condemned U.S. President Donald Trump’s Golden Dome missile defense shield plans and Washington's 'irresponsible' nuclear policy during a joint meeting on 'Wednesday', a week following President Xi 'Jinping's hosting of Trump in Beijing. In a joint statement, Xi and Russian 'President Vladimir Putin' said that Trump’s plans for a missile interceptor system based on the ground and in space posed a serious threat to strategic stability around the world. The report also criticised the United States for the expiration of the last remaining nuclear treaty that restricted the size of U.S.-Russian arsenals. This expired in February after Trump failed to respond to Moscow’s proposal to extend these limits by one year. Xi, and Putin who have met over 40 times, both stressed that the Russia-China ties were so close they signed a strategic partnership agreement in 2022, just three weeks before the full-scale Russian invasion of Ukraine. For Xi it capped a week of?diplomacy where he set out to show China as a pillar for stability in a turbulent world roiled by trade wars, military conflicts in Iran, and Ukraine. The?summit in Washington was mostly about managing tensions, but the meeting with Putin presented a new challenge: how to show progress in a relationship which both sides have already declared is "without boundaries". There was no sign of progress on the Power of Siberia 2 pipeline, a new massive natural gas pipeline that both sides have been discussing since years. MOSCOW READY TO PRESS FORWARD WITH PIPELINE Moscow had indicated ahead of the trip that it wanted to sign more energy agreements with China, which is the biggest buyer of Russian crude oil. These included pipeline supplies and seaborne shipments. During Putin’s last visit to Russia in September 2025 the Russian gas giant Gazprom announced that both parties had agreed to proceed with Power of Siberia 2. This 2,600 km (1,616 miles) pipeline will carry 50 billion cubic meters (bcms) of gas annually from Russia to China through Mongolia. China has not made many public statements about the project. Xi stated on Wednesday that the "ballast" of China-Russian relations should be cooperation in energy & resource connectivity. However, he didn't mention the pipeline. Analysts expect that negotiations on key issues like gas prices could last for years. The Kremlin stated that both sides had reached "general agreement on the parameters" for the project, but no specifics or timelines were agreed. SALUTE TO THE HONOUR GUARDS AND GUN SALUTE Xi received Putin at the Great 'Hall of the People' in Beijing with a gun salute and an honour guard. Children waved Chinese and Russian Flags. Xinhua, the Chinese state news agency, reported that Xi had said that countries should concentrate on a long-term strategy as well as promote a global governance system which is "more reasonable and just". "China-Russian relations have reached this stage because we were able to develop political mutual trust and a?strategic collaboration," Xi stated at the beginning of his meeting. Putin stated that the Russian-Chinese relations had "reach a truly unprecedented and continuing level." Both sides signed jointly a'statement on strengthening comprehensive strategy coordination' and a 'declaration advocating a multi-polar world order. The Kremlin said that "the global agenda for peace and development faces new challenges and risks, including the danger of fragmentation and a return to the 'laws of the jungle.'" Their joint statement stated. Reporting by Liz Lee, Ethan Wang and Jekaterina Glubkova from Beijing; Additional reporting provided by Beijing Newsroom and Guy Faulconbridge in Moscow; Writing by Mark Trevelyan and Editing by Philippa Fletcher
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Spend a moment to think about the biggest diesel importers in the world: Maguire
The U.S. and Israeli war on Iran has brought the crude oil price to the forefront of public attention. Most economies are powered by fuels and not oil. The sharp rise in diesel prices this year will likely cause the greatest economic damage. This is particularly the case in fuel-importing countries, who generally lack their own refinery capacity and must therefore rely on international market for diesel, gasoline and jet fuel, among other refined products. Fuel prices are rising faster than crude oil in some of the world's most important fuel trading hubs. This is a blow to consumers who have no choice but to pay for their fuel due to the lack of alternatives. The most significant increase in jet fuel prices has been in the majority of major trading regions. This is partly because the Middle East played a large role in the marginal supply of the fuel before the Iran conflict reduced ship traffic in the Strait of Hormuz. Diesel, or gasoil, is a close second and has a much deeper impact on everyday economic activities. Diesel is the main energy source for trucking fleets and rail systems. It also powers agriculture, construction, and agricultural equipment. The Iran War has caused a 50% increase in diesel prices in some markets. Importers will continue to face shortages of diesel until the conflict is resolved. Top Buyers Australia is the world's largest importer of diesel fuel, largely due to the closing of old refineries, and the unusually diesel-intensive economy of the agriculture, mining and trucking sectors. Data from commodities intelligence company Kpler show that Australia will import around 25 million metric tonnes of diesel in 2025. This is equivalent to about 2.10 million tons per month. Australia has imported around 2,19 million tonnes a month so far in 2026. This is mainly due to an increase in purchases in March to 2.52 million tons, which was a 18-month record. The conflict in Iran triggered a panic among importers. Fuel traders will continue to closely monitor the import volumes as the full impact of the higher import costs in 2026 is felt throughout the economy. Turkey, the second largest diesel importer in the world, has cut imports by 24% since 2026 as a result of rising prices. S&P Global predicts that Turkey's energy inflation will average 29% in this year, due to its heavy dependency on imported energy products. Fuel inventories below normal due to lower imports may exacerbate the inflation problems in Turkey, but trucking, the backbone of the logistics system, will continue to be imported over the next few months. Even if the high prices in Turkey cause more domestic economic pain, it is likely that continued Turkish interest will support international diesel until there is a significant recovery of global diesel supplies. Other key importers Diesel is a fuel that has a high demand, and it's difficult to reduce the imports despite the rising prices. However, several large diesel importers managed to reduce their import volumes in 2026 as compared to last year. Kpler data shows that 10 of the top 15 diesel importers by 2025 have cut their imports this year in comparison to the average monthly imports of 2025. Brazil, France Egypt, United Kingdom, and South Africa, which were ranked third to seventh on the importer rankings in 2025, have all reduced their import volumes this year in comparison to the same month in 2025. The total?purchases made by these five nations between January and April was 17.3 millions tons. This compares to 21 million tons in the same period of 2025. The 3.6 million ton drop in collective purchases in recent months has "freed up" supplies for other importers and ensured that diesel price did not rise any further during peak periods of shortage. Diesel is essential to each of these economies, so an increase in imports can be expected, especially during periods of low prices tied to fluctuations in crude oil?prices. The global diesel market is likely to remain supported by end-user demand for the near future, despite the cautious approach of cost-conscious imported who were forced to reduce their order sizes because of sticker shock. Spare a thought, at the end, for those countries who rely the most on diesel. They are enslaved to a fuel that they cannot replace easily, regardless of the price. Diesel is used to power the trucks and machinery that transport food, the machines that grow it, and the generators which keep the lights on in the event of a failure of the grid. These economies are forced to slow down or pay more when supplies become scarce and costs rise. Diesel's stubborn necessity in a world obsessed with crude benchmarks leaves the biggest importers the most vulnerable and the least able escape the squeeze. These are the opinions of the columnist, an author for. You like this column? Check out Open Interest, your new essential source for global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
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The US waiver is unlikely to increase Russian oil exports, which are already at near capacity.
The United States has renewed its waiver of sanctions on Russian oil exports. The waiver of sanctions on Russian oil exports will not materially increase Russia's exports, as the shipments are already close to the infrastructure limit, according to traders citing shipping statistics. The United States extended a waiver this week that allows limited trade of Russian crude. U.S. Treasury Sec. Scott Bessent stated that the decision was made to help "energy-vulnerable countries" affected by the Iran Conflict, and reversed earlier plans to not renew the measure. The waiver is the same as in previous versions. It allows purchases of Russian crude oil and petroleum products that are subject to U.S. sanction and were loaded on vessels by April 17. This effectively caps volumes and prevents access to newly loaded cargoes. The extension will not significantly increase exports as Russia already maximizes shipments to ease pressure on the oil system. Waves of Ukrainian strikes have targeted energy infrastructure and refineries since March. This has disrupted processing, allowing more crude to be exported. According to LSEG and trader data, exports and transit through Russia's western port increased by around 150,000 barrels a day (bpd) or about 9% in the first two week of May compared to April. Between May 1 and 15, shipments of Urals, KEBCO, and Siberian Light Crude?from Primorsk and Ust-Luga, as well as carry-over volumes, averaged 2.35 to 2.4 mbpd, up from 2.2 mbpd. These levels are close to the capacity of the Transneft system, according to traders. The system is overloaded. One trader stated that there isn't a lot of room to add more barrels. Russia is boosting its crude oil exports due to repeated Ukrainian drone attacks that disrupt refinery operations. These attacks have a 'curtailed domestic processing and forced more oil onto the export markets. Sources said that at the same time spare capacity is decreasing in the export infrastructure, which limits Russia's ability?to increase?flows despite waiver. Sources said that traders?added maintaining high export volumes allowed Russia to maintain production, previously reported as having declined in April. Another trader stated that exports were being prioritized to maintain output. "But the ceiling has already been reached." (Reuter's reporting)
Sources say that the freight rates for Russia's Urals are weakened due to an oversupply of tons.
Sources in shipping and trade said that freight rates for tanker shipments from Russia's western port to India dropped in mid-May because of seasonal factors, a large supply?of shadow flotte vessels and global shifts in shipping.
The blockade of Strait of Hormuz is still in place. Meanwhile, the shift of tankers to the Atlantic has a negative impact on the rates in Europe as ships who previously worked in the Gulf relocate.
Lower freight rates support higher netbacks of Russian?oil imports. Estimates suggest that the latest reduction in freight rates could boost?Urals price by $3 to $7 per barrel on a FOB basis.
The demand for Urals remains high in India, its largest market, despite the fact that U.S. The restart of the Nayara refining plant after maintenance and waivers are two examples. Washington extended a 30-day waiver of sanctions on May 18, allowing the purchase of Russian oil that is already in sea to help energy-vulnerable nations affected by the Iran conflict.
Sources claim that the cost to ship Aframax cargoes to India from Primorsk has dropped to $13 million. This is a significant drop compared to late April and early May when it was more than 18 million dollars.
The freight?for Suezmax?tankers travelling the same route is about $16million per voyage.
Costs of shipping Urals from the Black Sea port Novorossiisk, to India on Suezmax tanks have dropped to $18million. They were previously $20-21million. According to traders, LSEG, and calculations, the export and transit of oil from?Russian's western port increased?by about 150,000 barrels a day or 9% in the first two week of May compared with April. (Reporting and editing by Kirsten Doovan)
(source: Reuters)