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Europe News
What are Europe's oil route alternatives to the Strait of Hormuz?
Many European countries like Italy, Greece, Spain, Poland and Belgium rely on the Strait of Hormuz for imports or refining. Experts say the closure of this corridor will not cut off Europe’s oil supply, but will continue to drive up oil prices and disrupt markets.
Iran
Why the Strait of Hormuz is crucial to global oil and maritime trade
The Strait of Hormuz is a key shipping lane linking the Gulf to global markets, with a large share of the world’s oil and gas passing through it daily. Disruptions caused by tensions between Iran, the US and Israel risk affecting energy supplies and international trade. Watch the video for more.
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France
French probe reveals Russian security agents on seized shadow tanker
Two Russian nationals working for a private security company were confirmed to have been onboard a tanker seized by France in September, sources told French media. The vessel was suspected to be part of the Kremlin’s shadow fleet, carrying Russian oil and gas to evade Western sanctions.
Cuba
Fuel shortages tighten grip on Cuba as US blockade deepens energy crisis
Cuba is rationing fuel as aviation authorities warn of limited jet fuel supplies. While Havana’s airport remains operational, long-haul flights face disruption. Public transport has stalled, banks reduced hours, and Mexico pledged diplomatic efforts to help resume oil shipments.
Markets
Europe lost out on 3.8mn tonnes of Kazakh oil after Black Sea attacks
Kazakhstan’s oil exports fell after Ukrainian drone attacks and stormy weather hampered operations at the Caspian Pipeline Consortium’s marine terminal in Novorossyisk. Its major oil field Tengiz also suffered an outage in January.
Europe News
Trump hands Orbán a win as Hungary locks exemption for Russian energy
White House sources say exemption for Budapest to continue buying Russian oil will apply for a year. The move represents a political win for Orbán heading into an election in April, with the Hungarian economy in dire straits. Low energy prices could be a determining factor in the campaign.
Markets
European markets turn gloomy as US–China trade war looms
Relations between China and the US are souring as the countries place fees on each other’s ships, worrying investors. The new front in the trade war comes despite President Trump’s claim on social media: "Don't worry about China, it will all be fine!”
Ukraine
US intelligence to help Ukraine strike further energy sites in Russia
The US reportedly agreed to provide Ukraine with intelligence to support long-range strikes on Russia’s energy sites and is considering Tomahawk missile supplies, in what the Ukrainian president said on Thursday was "maybe something more".