Venezuelan oil exports drop sharply after U.S. tanker seizure
Venezuela’s oil shipments have plunged following the United States’ seizure of a tanker earlier this week....
Indonesia is redirecting shrimp exports to China after new U.S. tariffs of 19% froze orders from its top buyer, risking a 30% drop in sales and one million jobs. The $1.7 billion industry faces steep losses as exporters scramble to find alternative markets.
The United States previously accounted for 60% of Indonesia’s shrimp exports, but the sudden tariff hike in July forced importers to pause shipments. Farmers say new orders have stalled, expansion plans have been shelved, and confidence in the U.S. market has collapsed.
China, the world’s largest shrimp importer, had sourced only 2% of its supply from Indonesia before the tariff decision. Now, Indonesian trade officials are touring southern Chinese cities to meet buyers, restaurant chains, and seafood platforms.
“Imagine if we could take just 20% of China’s import market,” said Andi Tamsil of the Indonesian shrimp farmers’ association, referencing China’s annual imports of one million tonnes. “That would be a massive boost for us.”
Indonesia is also exploring growth in other regions, including the Middle East, Taiwan, South Korea, and the European Union. A free trade agreement with Brussels is reportedly near completion, which industry leaders hope will open new long-term opportunities.
Still, the outlook remains cautious. “The new tariff puts us at a disadvantage compared to exporters like Ecuador, which faces a lower 15% rate,” said Budhi Wibowo, head of Indonesia’s seafood exporters’ association.
West Java shrimp farmer Denny Leonardo said his company was preparing to scale back investment.
“I am optimistic that my company could survive because there will still be supply and demand. But for growth, I am not that optimistic.”
Japan has lifted a tsunami advisory issued after an earthquake with a magnitude of 6.9 hit the country's northeastern region on Friday (12 December), the Japan Meteorological Agency (JMA) said. The JMA had earlier put the earthquake's preliminary magnitude at 6.7.
The United States issued new sanctions targeting Venezuela on Thursday, imposing curbs on three nephews of President Nicolas Maduro's wife, as well as six crude oil tankers and shipping companies linked to them, as Washington ramps up pressure on Caracas.
Iran is preparing to host a multilateral regional meeting next week in a bid to mediate between Afghanistan and Pakistan.
Kyiv has escalated its naval campaign against Moscow’s economic lifelines, claiming a successful strike on a vessel suspected of skirting international sanctions within the Black Sea.
An extratropical cyclone has caused widespread disruption across Brazil’s São Paulo state, with powerful winds toppling trees and power lines, blocking streets and leaving large parts of the region without electricity.
Türkiye’s Trade Minister Omer Bolat said Friday that discussions in Washington with U.S. officials have strengthened efforts to expand bilateral trade, moving closer to a $100 billion target.
Türkiye’s President Recep Tayyip Erdoğan and Pakistani Prime Minister Shahbaz Sharif held talks on Friday during the International Peace and Trust Forum in Ashgabat, Turkmenistan, focusing on bilateral relations as well as regional and global issues
Hungary has strongly criticised NATO Secretary-General Mark Rutte’s warning that Russia could be capable of attacking the alliance within five years, with Foreign Minister Péter Szijjártó describing the remarks as irresponsible and dangerous.
Thailand and Cambodia have agreed to halt all shooting from Friday evening following renewed fighting along their shared border, U.S. President Donald Trump said on Friday.
China’s Ministry of Commerce announced on Friday that it will introduce a licensing system for steel exports starting in 2026, covering around 300 steel products.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment