New Zealand will temporarily permit fuel meeting Australian standards to be imported for up to 12 months, the government said on Monday, as it seeks to mitigate supply risks linked to the Middle East conflict and soaring prices.
Associate Energy Minister Shane Jones said the alignment of fuel standards would give importers access to more options and reduce the risk of disruptions.
"This is a sensible, time‑limited step that gives importers access to a broader range of fuel shipments, including those already in our region," Jones said in a statement.
But the country would not follow Australia in relaxing its own standards to allow access to higher sulphur fuel, he added.
New Zealand has 49.9 days of petrol, 45.5 days of diesel and 44.7 days of jet fuel in reserve, according to figures from the Ministry of Business, Innovation and Employment.
"There are healthy stocks of petrol, diesel and aviation fuel in the country with more on the way and the market is operating as normal," Prime Minister Christopher Luxon said.
"However ... our government is planning for scenarios where future fuel supplies could be disrupted."
On Tuesday, the government will roll out temporary measures to support the households that are most impacted by the spike in fuel prices, Finance Minister Nicola Willis said.
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Disruption in the Strait of Hormuz has increased the strategic importance of Bab al-Mandab, raising fears that instability in both waterways could trigger a wider global energy and trade crisis.
Iran and the United States remain at loggerheads over efforts to agree a permanent end to the war in the Gulf, according to a senior Iranian source who said there had been no progress in talks to revive the interim deal agreed in June and define a timeframe to implement it.
Iran says the Strait of Hormuz remains under its control, rejecting U.S. President Donald Trump’s claim of “total control” over the strategic waterway and insisting it will not reopen until Washington fulfils its commitments under an interim deal.
Flights at Catania airport in Sicily will remain suspended until early Friday as ash from Mount Etna continues to disrupt air travel, following hundreds of cancellations and diversions over the past week.
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Taiwan staged military defence drills on Wednesday as China concluded joint naval exercises with Indonesia in waters east of the island.
Washington’s counter-narcotics push is expanding as Colombia’s new conservative government backs deeper security cooperation.
Meta said it had removed more than 750,000 Facebook and Instagram accounts suspected of belonging to Australians under 16, as the country’s internet regulator weighs enforcement action over its teen social media ban.
Russia has accused Ukraine of threatening global grain supplies after recent strikes on Black Sea agricultural infrastructure, while Moscow carried out a new overnight attack on Ukraine’s major Danube port of Izmail.
Russian President Vladimir Putin has used Pacific Fleet drills to criticise Japan, NATO and possible Western moves against Russian commercial ships. He made the comments during his first visit to Iturup, a Japan-claimed island at the end of the Kuril chain near the island of Hokkaido.
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