North Asia

Vitali Klitschko, the mayor of Kyiv, Ukraine, said that a drone struck a petrol station early Tuesday morning. He also added that a drone had also struck warehouses in another part of the city. Witnesses heard an explosion in Kyiv The attack follows a?U.S. Donald Trump stated on Monday that Ukraine had agreed with Russia not to?hit each other's targets. Recently, Russia began targeting petrol stations in Kyiv and expanded the scope of facilities that were targeted. In the last few months, Russia has targeted around 300 petrol stations, mostly in or near Ukraine's frontline areas. In a social media...

Treasury Department: The United States imposed Iran-related Sanctions on Monday against?Russia's VTB Bank Public Joint Stock Company accusing it of involvement in Iranian sanctions evasion. Washington is seeking to increase economic pressure on Tehran. This action is a continuation of the sanctions that were imposed in 2022 against VTB, Russia’s second largest?lender. The bank was targeted following Moscow's full-scale invasion into Ukraine. Treasury Secretary Scott Bessent stated that "Under Operation Economic Outcast Treasury will continue to target those who provide material or financial support to the Iranian regime to enable it to maintain its terrorist enterprise." Treasury will not tolerate...

The Kremlin welcomed U.S. President Donald Trump's call for Ukraine to halt strikes against Russia's diesel-producing facilities. Trump called on Ukrainian president Volodymyr Zelenskiy on Sunday to stop attacking Russian diesel infrastructure. He said?the attacks are causing a fuel shortage?that "hurts the world". In recent months, long-distance Ukrainian drone strikes on oil refineries have reduced Russia's fuel supply. This has led to fuel shortages in the entire country. Ukraine claims that it is attacking Russian refineries to increase the costs for Moscow to continue its invasion of Ukraine. Dmitry Peskov, Kremlin's spokesman, said in a daily press conference that any...

OPEC+ said that it would not change its oil production policy for 'October' at a meeting held on Sunday. The group must first agree to new quotas in order to decide the next steps. The Iran War continues to disrupt oil exports via the Strait of Hormuz. This limits OPEC+’s influence on prices and market shares. In August, OPEC+ agreed ?its production boost for September, completing a phased rollback of a 1.65 million-barrel-per-day supply cut first agreed in ?2023. The Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia, despite the production increases agreed, are still far...

A senior Russian banker revealed on Wednesday that India, the world's second largest importer of Russian oil, has built a functional payments infrastructure using roubles. India increased its imports of Russian oil at a discount due to Western sanctions, resulting in a record-breaking $70 billion trade between Russia and India in 2024. The bilateral trade dropped in 2025 when the sanctions were tightened, but recovered in the first half 2026. "There are no problems in the settlements between Russia & India." Ivan Nosov is the head of Sberbank India. He said, "I am prepared to say that this is a...

Treasury Secretary Scott Bessent stated on Tuesday that the United States will likely announce sanctions against a bank in this week as part of its economic campaign against Iran. "We will probably announce a sanction against a bank this week and another the following week." Bessent stated that he was speaking with our allies in the area, who had all expressed their support. The treasury secretary said that the United States was targeting airline leasing companies and other entities who did business with the Islamic?Revolutionary Guard Corps (IRGC) at an event held on the sidelines of a meeting of 20...

An oil refinery in Russia's Yaroslavl region, Slavneft-Yaroslavnefteorgsintez, or ?YANOS, suspended oil processing at two ?of its three crude distillation units after a drone ?attack on August ?28, two industry ?sources ?told . The local governor stated on Friday that the facility had been hit by debris from an Ukrainian drone. Sources claim that the attack caused damage to the AVT-3 primary unit of crude distillation with a daily capacity of 17,140 metric tonnes, which is about 40% of the refinery's total capacity. The AVT-4 unit, with a daily capacity of 14,300 tons, represents 33% of the total capacity. The...

The Russian rouble fell sharply against the U.S. Dollar on Thursday. It lost more than 2%. China's currency, the yuan, also hit multi-month lows as a result of fading tax-related support amid rising imports and lower oil prices. Analysts have predicted that August will be the weakest rouble month of the year so far, due to the Ukrainian attacks on energy infrastructure, which are driving up the imports for fuel and equipment for refinery repair, increasing the domestic demand for foreign currency. The rouble was supported earlier in the week by exporters who sold?foreign currency revenue before Friday's monthly taxes....

The 'Amur Gas Chemical Complex', located in Russia's Far East, announced on Thursday that the death toll from a fire which broke out earlier this week was now 15. The plant announced on Wednesday that six Chinese citizens were among the seven victims of the fire. In a Thursday?Telegram, it said that 14 of the 15 victims were foreigners without revealing their nationalities. The report said that 39 people are still?in hospital, nine of whom were airlifted to Moscow. The complex is a joint venture between Sinopec and Sibur, a Chinese oil and gas firm. It claims to be one...

The Kremlin reported on Wednesday that U.S. CIA Director John Ratcliffe met with Russian intelligence officials but did not meet Vladimir Putin during a trip to Moscow, which U.S. president Donald Trump referred to as "semi routine." Dmitry Peskov, Kremlin spokesperson, told reporters that Putin was briefed about the outcome of the visit on Tuesday. The visit came at a time when the war in Ukraine is dragging on and efforts to achieve a lasting peace with the United States and Iran are stalled. Peskov refused to reveal what was discussed or provide further details. "All I can say is...

Kazakhs began voting 'Sunday in a snap election for a new parliament that appeared to be strengthening the power of President Kassym Jomart Tokayev over this 'Central asia country. The election was triggered after the adoption of a revised constitution in early this year. This new constitution consolidated parliament into a single chamber, reducing it from two. Kazakhstan's Supreme Court said last month that Tokayev who took office in 2019 was allowed to run for another seven-year term under the new constitution. Opinion polls show a majority of people support 'Adilet', a pro Tokayev party that was founded only a...

Three industry sources have confirmed that the Sibur Zapsibneftekhim Petrochemical Complex in Tobolsk (in western Siberia's Tyumen region) was damaged by a drone attack on Monday. Sources said that the plant, Russia's largest liquefied gas plant, was closed indefinitely while the damage and its effects were assessed. Regional Governor Alexander 'Moor' said on Monday that an industrial site had caught fire in the Tyumen area following a drone attack, but he did not name the facility. Sibur declined to comment on an inquiry. The St. Petersburg International Mercantile Exchange has not offered any LPG deliveries from the Tobolsk loading station...

Three industry sources confirmed that the Rosneft owned oil refineries in the Volga River?cities of Syzran & Saratov have ceased?processing? following Ukrainian drone attacks earlier this month. The plant in Syzran was shut down on Tuesday. Saratov's operations were suspended last Friday. This week, despite the announcement made by U.S. president Donald Trump that both countries had agreed to cease their attacks on energy infrastructures of each other, Russia and Ukraine have continued to attack each other. The shutdown of refineries in Russia will probably worsen the domestic fuel shortages, which were already a problem due to restrictions on gasoline,...

According to calculations based upon data provided by fuel market participants, half of Russia's top six diesel-producing refineries had to significantly halt or reduce production in September as a result of damage caused by drone attacks. The U.S. president Donald Trump highlighted the Russian fuel shortage on Sunday when he asked Ukrainian President Volodymyr Zelenskiy to stop attacking Russian diesel infrastructure. He said the attacks are causing a fuel shortage that "hurts the world". Ukraine, which regularly faces Russian attacks on their own energy infrastructure, claims that refineries are legitimate military targets. According to GasBuddy's price tracker, the U.S. average...

China's crude oil imports by sea increased in August compared to July, but they remained 40% below the levels before the Iran conflict. According to Kpler, commodity analysts, China's largest oil importer saw seaborne arrivals increase from 6.93 million barrels per day in July to 7.14 million barrels per daily (bpd) during August. The imports in August were 4,27 million bpd less than the average of 11,41 million bpd for the three months leading up to the U.S.-Israeli attack on Iran, which took place on February 28. China is absorbing the majority of the Middle East's lower crude oil volumes,...

China's crude oil imports by sea increased in August compared to July, but were still nearly 40% below levels prior to the Iran conflict. According to Kpler, China's largest oil importer saw seaborne arrivals increase from 6.93 million barrels a day in July to?7.14 million bpd in August. August's imports fell by 4.27 % below the average of 11,41 million bpd during the three months preceding the U.S.-Israeli attack on Iran, which took place on February 28. China is absorbing the majority of the Middle East's lower crude oil volumes, as its exports are falling due to the restricted flow...

Shipping data shows that Turkey increased its diesel imports from the United States and India to record levels in August. This was due to a Russian ban of diesel exports, and to wider disruptions caused by Iran's war. According to Kpler, the commodities data firm, Turkey has imported Indian diesel at a rate of more than 120.000 barrels per day, while its imports from the U.S. have reached 90,000 barrels per daily. Kpler data dating back to 2017 shows that these volumes are the highest monthly totals ever recorded. After Ukrainian strikes on refineries disrupted the domestic supply, Russia has...

Government data released on Thursday showed that oil product inventories in Asia’s fuel trading hub, Singapore, had rebounded to three-week highs, with stocks increasing week over week. Enterprise?Singapore data showed that combined onshore inventories reached?39.18m barrels for the week?ended august 26. This was?up 4.0% compared with a week before. The markets remained attentive to Middle East discussions around the Strait of Hormuz, which transported oil and LNG equal to about one fifth of global consumption prior to the U.S./Israeli war against Iran. The RESIDUAL FUEL STOCK RETURNS TO A MASS OF 19 MILLION BARRESLS The residual fuel stockpiles rose for...

According to government data, oil product inventories in Singapore, Asia’s main fuel trading hub, fell for the second consecutive?week, reaching two-month lows. Light distillates inventories are nearing a 5-year low. Enterprise Singapore reported that combined onshore oil products inventories were around 37.67 millions barrels for the week ending August 19. This is down from 38.44million barrels one week prior. Even though the imports of refined fuels like diesel, gasoline, and jet fuel from China dropped, they were in line with the expectations that the market had set since Beijing began to loosen its control over exports in July. As U.S....

Official data showed that oil product inventories in Asia’s main trading hub, Singapore, hit a 2-week low as residual fuel stocks plummeted. However, a recovery of middle distillate stocks capped the declines. Enterprise Singapore data shows that total onshore oil products stocks fell 2.6% in the past week, to 38.44 millions barrels. Middle East outflows into Asia were slowed by ongoing tensions on key Gulf waterways. RESIDUAL FUELS STOCKS ARE WELL BELOW THE AVERAGE The decline in residual fuel inventories was largely due to lower net imports, which pushed the figure down 12.0%. Some sellers also wanted to sell their...

Former Ukrainian detainees as well as Ukrainian officials have accused Russia of torturing civilian and military?detainees. They also said that they held them incommunicado, subjected them to electric shocks, and sexually abused thousands of people. Russia has rejected the allegations that were made during an informal U.N. Security Council Meeting. Its Deputy U.N. representative Maria Zabolotskaya called it "a campaign of disinformation" and claimed that Russian prisoners held in Ukraine had been subjected "to torture and degradation, and moral and physically abuse." Khuan Levya-Garsiya is still an active member in the Ukrainian military. He claims that his Russian captors tortured...

Authorities said that at least 13 people, including a child, were killed and 39 others injured by a Ukrainian drone strike on industrial and civil targets in Nizhnekamsk. This is the highest civilian death toll in Russia for months. According to Russian media, the attack also targeted a major oil refinery in the Tatarstan Region, located about 800 km (497 mi) east of Moscow. In a press release, Russian investigators announced that they had opened a criminal investigation into the attack they deemed a terrorist act. They said that Ukraine struck residential areas in which a child was killed. Radmir...

According to multiple trade sources and ship tracking information, China's state owned?Sinopec Corp., the world's largest refiner, increased purchases of Far East Russian Oil to compensate for Middle East oil supplies that were reduced by the Iran War. Sinopec has been able to maintain a relatively stable output and export fuel surpluses on a strong margin due to its purchases of Russian oil, which is cheaper than competing grades from Brazil and West Africa. This was despite China's decision in March of limiting the overseas sale of fuel products, as a way of protecting domestic supply during trade disruptions caused...

Two industry sources said on Thursday that a Ukrainian drone attack was responsible for a fire in Lukoil’s Perm refinery, which damaged and forced to shut down one of its crude distillation unit (CDU). Perm Governor?Dmitry Makhonin said on Wednesday that drones had targeted an industrial facility but that the location of the target was not identified. Volodymyr Zelenskiy, the Ukrainian president, said that Kyiv forces have struck several targets in Russia. He claimed that an oil refinery, an export terminal, and a military enterprise were all hit in the Rostov area. Lukoil didn't immediately respond to our request for...