live Trump says U.S.-Iran talks could resume ‘at some point’
Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most s...
Russia, the world's second-largest oil exporter, on Wednesday imposed restrictions on another major oil export route, suspending a mooring at the Black Sea port of Novorossiisk only a day after restricting loadings from a key Caspian pipeline.
Russia produces about 9 million barrels of oil a day, or just under a 10th of global production. Its ports also ship oil from neighbouring Kazakhstan.
The restrictions were imposed as U.S. President Donald Trump has said he is unhappy with Russia and the rate of progress in peace talks with Ukraine, and threatened to impose secondary tariffs on buyers of Russian oil.
Russia's oil pipeline monopoly Transneft said it had suspended a mooring at Novorossiisk for 90 days after a snap inspection by a transport watchdog.
The Novorossiisk Commercial Sea Port (NCSP) is one of Russia's largest export outlets and the closure of one mooring is unlikely to affect its operations significantly.
"A temporary ban on operations has been imposed on oil loading berth 8. NCSP has been ordered to eliminate all identified violations by June 30, 2025," Transneft said.
Industry sources said that Berth 8 at the Sheskharis terminal handles low-sulphur diesel tankers with a deadweight of around 7,000 metric tons, mainly carrying exports to Turkey and Georgia.
An industry source also said that the berth is used to deal with small-scale vessels of up to 10,000 tons of oil products.
LSEG and industry sources' data showed that the berth handled around 100,000 tons of diesel in January-March.
Two of three moorings at a nearby terminal of the Caspian Pipeline Consortium, in which U.S. oil majors Chevron and Exxon Mobilhold stakes, were closed on Monday following the regulator's checks.
Kremlin spokesman Dmitry Peskov told reporters on a conference call that the restrictions on CPC are related to Ukrainian drone attacks on the infrastructure.
Ukraine accused Russia of launching new attacks against its energy facilities.
Ukrainian President Volodymyr Zelenskiy said a Russian drone hit an energy substation in Sumy region and artillery fire damaged a power line in Dnipropetrovsk, cutting off electricity to nearly 4,000 consumers.
Oil exports via the CPC pipeline have been set at 1.7 million barrels per day, or around 6.5 million metric tons, for April.
CPC buyers have said they are waiting for the revised loading programme. Both Kazakhstan and Chevron said on Tuesday that the flows via the pipeline were not interrupted.
The collective-defence agreement between Türkiye, Saudi Arabia and Pakistan signals that regional powers no longer want to rely solely on external security guarantees. Whether it becomes a stabilising deterrent or another axis of rivalry remains unresolved.
U.S. President Donald Trump says Washington is not seeking an extension of its memorandum of understanding with Iran, claiming the U.S. already controls the Strait of Hormuz through its naval blockade.
Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most shipowners away. Six commodity vessels crossed the strait on Tuesday, down from nine the day before and below the 10-day daily average of 11.
Iran has said the Strait of Hormuz will remain closed until the U.S. fulfils the terms of an interim deal, including lifting the maritime blockade and sanctions and releasing Iran’s frozen assets.
Ukraine has targeted at least 20 Wildberries warehouses across Russia since 18 July, disrupting a major logistics network. Kyiv says the strikes aim to disrupt alleged military-linked supplies, while the attacks have caused billions of dollars in losses and wider economic pressure.
Once associated mainly with Muslim-majority countries, Islamic finance has become a global industry. Its assets reached around $5.98 trillion in 2025, according to ICD–LSEG, as more countries explore Shariah-compliant finance.
Azerbaijan exported goods worth $17.372 million to Armenia between January and July 2026, according to data from the State Customs Committee, as commercial ties between the two South Caucasus neighbours showed signs of expansion.
Online fast-fashion platform Shein lost a London copyright lawsuit against rival Temu on Thursday over photographs used to promote some products.
Norway’s $2.3 trillion sovereign wealth fund has revealed a 0.05 per cent stake in SpaceX worth $1.22 billion, marking its first reported holding in Elon Musk’s space company.
U.S. data analytics firm Palantir Technologies has reported a 93 per cent year-on-year jump in second-quarter revenue, even as the company faces continued criticism over its work with Israel's military and allegations linking its technology to the war in Gaza.a.
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