Qatar and Kuwait have successfully restored approximately 70 percent of their pre-war oil exports through the Strait of Hormuz using alternative ship-to-ship logistics, defying weaker Asian import trends. Meanwhile, Moscow is tightening controls on its domestic fuel market following industrial disruptions, while geopolitical debates intensify over Armenia’s economic future outside the Eurasian Economic Union (EAEU).
Global market
In a significant logistical breakthrough, Qatar and Kuwait have boosted their crude oil exports through the Strait of Hormuz back to 70% of pre-war levels. According to anonymous traders, the two Gulf nations bypassed the maritime blockade by employing shuttle transportation and ship-to-ship (STS) transfers in the Gulf of Oman, replicating successful logistics models pioneered by the United Arab Emirates. Prior to the conflict, the two countries collectively exported 2 million barrels per day (bpd) through the strategic chokepoint. This recovery occurs despite overall sluggishness in Asian demand; data compiled by commodity analysts Kpler and cited by Reuters columnist Clyde Russell suggests that Asian crude imports will decline slightly to 23.12 million bpd in August from 23.36 million bpd in July.
To mitigate vulnerability to Middle Eastern LNG supply disruptions, Thailand’s Energy Minister Akanat Promphan announced plans to accelerate renewable energy rollout and embrace nuclear power for the first time, aiming to cut reliance on imported LNG, which currently fuels more than 60% of Thailand’s power generation. In international shipping, South Korean LPG supplier SK Gas agreed to pay a record-breaking $5.30 million express transit fee to secure passage through the Panama Canal on September 1. This logistical pressure coincides with a rise in global bulk transport costs, as the Baltic Dry Index climbed 51 points to reach 3,107 points on Thursday, August 27, 2026.
Russia & CIS
Russian Deputy Prime Minister Alexander Novak convened an urgent meeting of the government’s fuel market commission, instructing oil producers and federal regulators to intensify monitoring of domestic fuel stocks and ensure stable regional distribution. The Federal Antimonopoly Service (FAS) is actively drafting measures to guarantee economically justified prices for petroleum products across retail networks. These administrative measures follow the completion of search-and-rescue operations at the under-construction Amur Gas Chemical Complex, where the joint venture confirmed that 15 contractor employees—including one Russian citizen and 14 foreign nationals—perished in the fire. The enterprise has pledged additional compensation packages for the victims’ families.
Security risks to physical energy and civilian infrastructure also persist. A Ukrainian drone strike on a combined shop and bakery building in the Belovsky district of the Kursk region injured six civilians, according to local authorities. Concurrently, Ukrainian forces launched a drone strike targeting the dry storage facility for spent nuclear fuel at the Zaporizhzhia NPP, prompting international concern. In neighboring Central Asia, Kazakhstan’s Ministry of Trade launched a comprehensive quality inspection of petrol across all national refineries, oil depots, and fuel stations following widespread motorist complaints.
Armenia
Armenia’s potential departure from the Eurasian Economic Union (EAEU) could trigger severe economic consequences, according to a report by Dmitry Sviridenko, the director of the Stolypin Institute for Growth Economics. Director Dmitry Sviridenko warned that terminating the free-trade regime with EAEU partners could slash Armenia’s total exports by 25% to 27%. This economic warning was underscored by political friction in Moscow, where Russian Foreign Ministry Spokesperson Maria Zakharova criticized Yerevan’s dual foreign policy track of pursuing European Union integration while retaining EAEU preferences as “frankly indecent”. Furthermore, the Russian Ministry of Foreign Affairs noted that Armenia’s financial contribution to the joint EAEU budget stands at just 1%, despite the republic reaping disproportionately large economic advantages from its membership.
Despite these political tensions, Armenia’s retail markets for petrol, diesel, and natural gas remained stable on August 27. This stability continues to be protected by Armenia’s membership in the EAEU, which provides duty-free and uninterrupted imports of Russian natural gas and petroleum products at stable, long-term contract rates. This bilateral administrative mechanism insulates the domestic market from international spot volatility and ensures that local utility tariffs are completely shielded from fluctuating international market price assessments.