#russian-oil-shipments

#russian-oil-shipments

A 'workable system' of transit and shipowner confidence in the security of the transiting vessels is essential. This includes availability of insurance for transiting vessels, facilitating commercial trade financing, and sustained outbound vessel transits through the Strait of Hormuz.

"The big recent changes are the war causing spikes in diesel, fertilizer, and chemical prices," Jeffrey Dorfman explained, highlighting the direct impact of the conflict on agricultural costs.

Two large packages of explosives with detonators were found inside backpacks a few hundred meters from the Balkan Stream pipeline in Kanjiza, near the Hungarian border in northern Serbia.

The E-3 Sentry, with its distinctive rotating radar dome, is a flying command center that allows American forces to see and coordinate the battlefield. In recent weeks, Iran destroyed one on a runway in Saudi Arabia and reportedly damaged another.

Major indices, including the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average, all recorded gains, with the Nasdaq delivering its strongest weekly performance since November.

Ust-Luga, a key oil-export outlet in Russia's west, stopped at the end of March as Ukraine stepped up attacks on energy infrastructure along the Baltic coast.

We are seeing a significant increase in demand for Russian energy resources in connection with the war in Iran. Russia has been and remains a reliable supplier of both oil and gas including pipeline gas and liquefied natural gas, and it also remains capable of guaranteeing the continuity of all deliveries for which contracts have been concluded.

The so-called 'petrodollar' system wasn't well understood for most of this time, but a secret deal between Henry Kissinger and Saudi Arabia ensured the dollar would remain the dominant reserve currency.

If the chokepoint were shut, along with the Strait of Hormuz, a quarter of the world's energy and a giant chunk of Asia's exports to Europe would be blocked.

The war has effectively blocked the Strait of Hormuz, the world's most important oil route, since the end of February and cut exports from OPEC+ members Saudi Arabia, the United Arab Emirates (UAE), Kuwait and Iraq.

India has not received a cargo from Tehran since May 2019, following US pressure not to buy Iranian crude. New Delhi has turned to Tehran for energy supplies as the Iran war rattles supply.

When markets panic, authoritarian exporters cash in. In less than two weeks, Russia has earned an estimated 6bn from fossil fuel exports, money that ultimately feeds the Kremlin's war machine. Easing sanctions now would not stabilise markets. What it would do is allow Russia to sell the same oil for a far better price.