live Deal to reopen Strait of Hormuz expected 'soon' - U.S. official
An agreement between Iran and the U.S. to reopen the Strait of Hormuz is expected "soon," a U.S. official has said. The deal would result in the resum...
Russia's government is prioritising fuel supplies for vehicles delivering food to major retail chains as the country grapples with nationwide fuel shortages caused by repeated Ukrainian drone attacks on its energy infrastructure.
Deputy Prime Minister Alexander Novak said the government had discussed giving priority access to fuel for food deliveries to help prevent spoilage and avoid higher transport costs that could push up consumer prices.
Authorities usually issue fuel cards that allow approved drivers to refuel during periods of restricted supply.
The government task force also discussed ensuring diesel supplies for the agricultural sector as Russia seeks to ease pressure on fuel distribution.
The shortages have worsened after repeated Ukrainian strikes disrupted operations at several major oil refineries.
According to two industry sources and Reuters calculations, Russian gasoline production has fallen to around 65% of the country's seasonal average consumption.
Russia's central bank has warned that lower fuel production is expected to weigh on economic growth in the second quarter of 2026.
An agreement between Iran and the U.S. to reopen the Strait of Hormuz is expected "soon," a U.S. official has said. The deal would result in the resumption of commercial shipping through the sea passage and the lifting of an American naval blockade on Iranian ports.
U.S. President Donald Trump said negotiations to reopen the Strait of Hormuz are progressing and suggested an agreement with Iran could be reached “soon”.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 8th of August, covering the latest developments.
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