Russia may be forced to reduce its oil production in the coming months as U.S. sanctions restrict access to tankers needed for exports to Asia, while Ukrainian drone attacks continue to damage key refineries.Last month, the U.S. imposed sanctions targeting 180 Russian tankers, coinciding with an escalation in Ukrainian drone strikes aimed at strengthening Kyiv’s bargaining position.
U.S. President Donald Trump will restore his "maximum pressure" campaign on Iran and drive its oil exports down to zero, a U.S. official said on Tuesday.Iran has repeatedly threatened to close the Strait of Hormuz for traffic as a retaliation for Western pressure. That would shut down the region's trade and lead to a spike in oil prices.
European Union envoys will discuss a 15th package of sanctions in response to Russia's 2022 invasion of Ukraine, including on tankers carrying Russian oil and Chinese firms involved in making drones for Moscow, EU diplomats said.A total of 29 entities and 54 individuals are lined up to be added to more than 2,200 on the existing sanctions list
The United States is watching growing cooperation between Russia and China in the Arctic closely and some of their recent military collaboration in the region sends "concerning signals", the U.S. Arctic ambassador said.Russia and China have stepped up military cooperation in the Arctic while deepening overall ties in recent years that include China supplying Moscow with dual-use goods despite
Yemen's Houthis said on Monday that they targeted three ships in the Red Sea and Arabian Sea, attacks they called part of their efforts to enforce a naval blockade on Israel.Houthi military spokesperson Yahya Sarea said in a televised address the vessels were targeted for attempting to approach ports bound for Israel.
Australia said on Wednesday it would invest billions of dollars over the next two decades to expand a shipyard in Western Australia that would become the maintenance hub for its nuclear-powered AUKUS submarine fleet.The government will make an initial investment of A$127 million ($85 million) over three years to upgrade facilities at the Henderson shipyard near Perth
Britain on Thursday sanctioned five vessels and two associated entities involved in the shipping of Russian LNG, with the government saying it was using new legal powers for the first time to target LNG vessels directly."Earlier this year, the UK sanctioned Arctic LNG 2, alongside our allies in the US and EU.
U.S. Gulf of Mexico energy firms on Friday were lumbering back from hurricane disruptions as offshore oil and gas producers ramped up operations after halving the key energy region's output, ports reopened, and onshore terminals accepted oil and liquefied natural gas (LNG) tankers.Hurricane Francine shut in up to 42% of the region's offshore oil and 53% of its natural gas production.
Britain has slapped sanctions on 10 further ships in Russia's so-called "shadow fleet" of vessels which it says use illicit practices to avoid Western restrictions on Russian oil.Russia rejects Western pressure to limit its oil exports, and in the past year there has been a growth in the number of tankers transporting cargoes that are not regulated or insured by conventional Western providers.
Russian shipping company Sovcomflot has started this year's transportation of Urals crude oil to Asia via the Northern Sea Route, according to market sources and LSEG data on Tuesday, as melting ice opens the Arctic route for transit shipments.Russia wants alternative routes to Asia from its western ports as Western sanctions have made it increasingly difficult for its fleet to operate in waters
Russia's state nuclear agency Rosatom has signed a memorandum of understanding with a Chinese shipping company to establish a year-round container line between the two countries via the Arctic's Northern Sea Route (NSR), it said on Thursday.Russian President Vladimir Putin has talked up prospects for the Arctic corridor as Russia shifts its trade eastwards in response to Western sanctions over
Unregulated tankers sidestepping Western sanctions are posing a bigger risk to the Mediterranean region and Greece is undertaking more protective measures to safeguard its coast, the country's shipping minister told Reuters on Tuesday.Up to 850 oil tankers are estimated to form the so-called shadow fleet transporting oil from countries such as Iran and Venezuela as well as Russia