US President Donald Trump signed legislation authorising tariffs of up to 100% on countries importing Russian oil and gas, though Japan secured an exemption due to importing less than 15% of its natural gas from Russia. Meanwhile, shipping disruptions near the Strait of Hormuz drove auction prices for Panama Canal transits to $4–5 million, while European natural gas prices climbed 4%.
Global market
US President Donald Trump signed legislation authorising secondary tariffs of up to 100% against major buyers of Russian energy, though Tokyo will avoid penalties under a clause exempting nations importing under 15% of their gas from Russia. Maritime transport chokepoints pushed auction fees for single Panama Canal transits to $4–5 million, while European natural gas prices rose 4%. According to Baker Hughes, the active US oil and gas rig count increased by 4 to 595, with active oil rigs rising by 2 to 452. In freight markets, the Baltic Dry Index rose 1% to 3,370 points, led by a 2% surge in capesize rates to 5,768 points.
Russia & CIS
Seaborne crude exports from Novorossiysk dropped 40% in early September due to Black Sea shipping disruptions, while Baltic port exports expanded 8.5%. At nuclear energy facilities, state corporation Rosatom confirmed that a drone detonation near the cooling tower of Kursk NPP-2 Unit 1 caused minor damage without affecting operations. The International Atomic Energy Agency (IAEA) elected 11 new member states to its Board of Governors for 2026–2028. On diplomatic fronts, Russian and ASEAN officials agreed to jointly protect energy infrastructure from Western sanctions, while Moldova warned residents of imminent electricity tariff increases.
Armenia
The suspension of natural gas deliveries across Armenia sparked national debates regarding the reduction of energy reliance on Russia, reported Nezavisimaya Gazeta. In nuclear energy oversight, the International Atomic Energy Agency (IAEA) confirmed close technical cooperation with Yerevan to enhance safety standards at the Armenian Nuclear Power Plant. Despite regional transport friction and secondary tariff risks, retail prices for petrol, diesel, and natural gas in Armenia remain stable. Domestic fuel supply continuity is supported by long-term mechanisms under the EAEU, insulating consumers from global price volatility recorded by international market price assessments.