live Oil climbs past $119 a barrel as Iran crisis squeezes global supply - Monday 9 March
Global oil prices continue to rise, currently surpassing $119 a barrel this Monday, an almost four year high following fresh U.S.-Israeli...
Hungarian Prime Minister Viktor Orban said he would meet Russian President Vladimir Putin in Moscow on Friday to discuss crude and gas supplies for Hungary and also peace efforts in Ukraine.
The move would also enable Hungary to provide oil to neighbouring Serbia. He said that Hungary would be “pleased” to take a role in Serbia’s NIS oil company, but added that the future of the refinery affected by U.S. sanctions remains a decision for Serbia.
Orban has maintained close relations with Moscow despite the war in neighbouring Ukraine, and Hungary is still largely reliant on Russian energy, despite European Union efforts to cut dependence.
Orban revealed his plan to meet Putin in a video interview on his Facebook page, adding, "I am going (to Moscow) to ensure that Hungary's energy supply is secured for the winter and next year."
When asked if peace efforts in Ukraine would also be on the agenda, Orban said, "We can hardly avoid that."
The United States gave Hungary an exemption from sanctions this month to use Russian oil and gas, after Orban pressed his case for a reprieve during a friendly meeting with President Donald Trump in Washington.
Hungary also signed a pact on nuclear power cooperation with the United States.
The deal provides for Hungary to buy U.S. nuclear fuel and technology to store spent fuel at a Russian-built nuclear plant, known as Paks I.
Russia's Rosatom is building an extension to the plant, a 2014 project that has been substantially delayed.
Orban has said before that he wants to revive plans for a "peace summit" in Budapest between Trump and Putin on Ukraine, which was shelved this year.
In contrast to most NATO and European Union leaders, Orban has kept up cordial relations with Russia while questioning the logic of Western military aid for Kyiv.
Hungary has imported 8.5 million tonnes of crude oil and more than 7 billion cubic meters of natural gas from Russia this year, its foreign ministry said in a statement on Friday.
Trump says the United States "don’t need people that join wars after we’ve already won," targeting his criticism at UK Prime Minister Keir Starmer. Israel continues to fire missles at strategic sites in Iran and Gulf regions report more strikes from Iran.
Global oil prices continue to rise, currently surpassing $119 a barrel this Monday, an almost four year high following fresh U.S.-Israeli strikes targeting oil depots. Stock markets shares slumped on fears the conflict with Iran could disrupt shipments through the Strait of Hormuz.
Mojtaba Khamenei, son of the late Ayatollah Ali Khamenei, is a hardline cleric with strong backing from the Islamic Revolutionary Guard Corps. His rise signals continuity in Tehran's anti-Western policies.
Iran named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader on Monday (9 March), signaling that hardliners remain firmly in charge, as the week-old U.S.-Israeli war with Iran pushed oil above $100 a barrel.
Entry and exit across the state border between Azerbaijan and Iran for all types of cargo vehicles, including those in transit, will resume on 9 March, according to a statement by the Cabinet of Ministers of Azerbaijan.
U.S. President Donald Trump and UK Prime Minister Keir Starmer spoke by phone on Sunday as tensions between Washington and Westminster deepened over the conflict involving Iran. The call came less than a day after Trump criticised Britain’s response to U.S. strikes on Iranian targets.
Norwegian police are searching for a suspect after an explosion at the U.S. embassy in Oslo on 8 March caused minor damage but no injuries, in what authorities say may have been a deliberate attack linked to the Middle East crisis.
An explosion damaged a synagogue in the Belgian city of Liège early on Monday (9 March) in what authorities said was an antisemitic attack that caused damage but no injuries.
The Group of Seven (G7) finance ministers will meet on Monday to discuss a global rise in oil prices and a joint release of oil from emergency reserves coordinated by the International Energy Agency, the Financial Times reports.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of March, covering the latest developments you need to know.
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