This evening edition details the final developments of the day, focusing on Iran’s legislative steps to impose maritime tariffs in the Strait of Hormuz, Greece’s deployment of anti-missile air defenses, Russia’s first-ever Turkish gasoline import, and the private-sector technological race for commercial nuclear fusion and deep-sea geothermal power.
Here is the complete news article:
Tehran imposes new transit fees on Hormuz shipping
An Iranian parliamentary committee has approved transit fees for vessels crossing the Strait of Hormuz to fund maritime security and environmental protection. Meanwhile, Russia is set to receive its first Turkish gasoline shipment to alleviate domestic fuel shortages, as global energy giants join a technological race for commercial nuclear fusion.
Global market
The Iranian parliament’s national security and foreign policy committee has approved new transit tariffs on all commercial vessels passing through the Strait of Hormuz. According to reports from television channel Al Mayadeen, the fees will be collected for security provisions, refueling services, environmental protection, and maritime insurance. This institutional move significantly escalates the cost of global oil logistics through the chokepoint. In response to mounting geopolitical risks stemming from potential threats from Iran, Greece has redeployed a Patriot air defense battery from Karpathos island to the island of Crete, highlighting the widening military footprint of the Persian Gulf conflict in the Mediterranean.
At the same time, the search for long-term clean energy solutions has triggered a technological race. Major oil and power corporations—including Italy’s Eni, British-Dutch Shell, US-based Chevron, and Germany’s RWE—are actively investing in commercial nuclear fusion to secure a market position before the technology achieves commercial maturity. Meanwhile, Seattle-based startup Endurance Energy is pioneering deep-sea geothermal power by deploying a 100-kilowatt seafloor generator off Oregon’s coast to capture 750-degree Fahrenheit temperatures from underwater hydrothermal vents. On the macroeconomic front, European Central Bank President Christine Lagarde is expected to be elected head of the Davos World Economic Forum (WEF) this autumn, backed by WEF founder Klaus Schwab.
Russia & CIS
To stabilize its highly strained domestic motor fuel market, Russia is turning to external suppliers. The first Turkish oil tanker, with a deadweight of up to 50,000 tonnes carrying motor gasoline, is scheduled to arrive in Russia in August 2026. This shipment will represent Russia’s first gasoline import from Turkey and its fifth import batch overall, as Russian Prime Minister Mikhail Mishustin continues to personally monitor domestic fuel balancing. Russian officials emphasize that logistical and supply challenges are strictly limited to gasoline, and they expect domestic production to recover as several major refineries complete their scheduled maintenance and return to full operation.
In the conflict zone, energy infrastructure continues to suffer significant damage. Strikes on southern Ukraine have severely damaged local electrical infrastructure, leaving parts of the region entirely without power. Meanwhile, extreme weather has also disrupted Russian domestic grids; a powerful storm in the Baltic enclave of Kaliningrad knocked down 563 trees, triggering localized power outages and water supply disruptions.
Armenia
Armenia’s energy sector remains highly vulnerable to the latest security escalations in the Middle East. The decision by an Iranian parliamentary committee to impose transit, security, and environmental fees in the Strait of Hormuz increases shipping costs and geopolitical volatility along Yerevan’s southern trade corridors. While the regional escalation and maritime fees threaten to complicate Armenia’s long-term energy diversification plans with Tehran, the republic’s domestic market remained insulated from immediate shock on August 23.
Through EAEU agreements, Armenia continues to receive duty-free Russian natural gas and petroleum products at stable, non-market rates. This mechanism successfully protects retail consumers from international price spikes and ensures that local utility tariffs do not depend on volatile international market price assessments.
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