The shifting international landscape from a rigid, Western-oriented world order to a more flexible one has contributed to the rise of numerous countries, especially from the Global South to the status of emerging middle powers.
Some 20,000 seafarers remain stranded on around 2,000 ships in the Strait of Hormuz amid the ongoing Middle East conflict, in what has been described as an unprecedented situation in the post-Second World War era. The vessels include oil and gas tankers, cargo ships and six cruise liners.
Stock markets across Asia fell on Monday as escalating conflict involving Iran drove oil prices sharply higher, fuelling fears of inflation and a potential global recession, with investors reacting to disruption risks in the Strait of Hormuz and prolonged hostilities.
The UK has authorised transactions involving Kazakh oil transported through Russia, creating a limited exemption within its sanctions regime while maintaining broader restrictions on Russian-linked entities.
Some changes are immediately visible: new turbines on the steppe, solar panels on rooftops, and figures in reports. Other changes mature in silence - but transform everything. Azerbaijan, for decades associated with black gold, is now writing a new chapter.
President Donald Trump has signed an executive order preventing Venezuelan oil revenues held by the United States, from being used in judicial proceedings, arguing that court action could threaten U.S. policy objectives in Venezuela.
Iran has rolled out a test vending of imported premium at market price in Tehran to address the country's domestic petroleum consumption deficit.
Prime Minister Jonas Gahr Støre has successfully steered his minority administration away from a potential collapse, securing vital parliamentary support for the 2026 fiscal plan following weeks of tense negotiations.
Syrian President Ahmed al-Sharaa met on Tuesday with delegations from U.S. energy giant Chevron and the Syrian Petroleum Company to discuss potential cooperation in oil and gas exploration projects along Syria’s Mediterranean coast, the state-run SANA news agency reported.
Russian President Vladimir Putin received Hungarian Prime Minister Viktor Orban in Moscow, on Friday. The two leaders held detailed talks on Russian oil and gas supplies.
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