European drivers pay an extra €203 million daily for diesel following EU import bans on Russian fuel, while South Korea unveiled a 10-year strategy to cut Middle Eastern crude reliance to 50%. Meanwhile, Moscow agreed to fund the majority of an Iranian gas pipeline project, and Armenia highlighted its successful fuel market diversification.
Global market
European drivers pay an additional €203 million daily for diesel fuel, representing a 40% cost surge since early 2026 due to European Union import bans on Russian products, according to Transport & Environment. In Asia, South Korea announced a 10-year resource security plan to lower Middle Eastern crude reliance from 70% to 50% by 2035, while boosting strategic reserves by 20 million barrels by 2030. On market dynamics, Goldman Sachs reported that $100 Brent crude is capping China’s fourth-quarter import growth, despite August imports recovering 6.2% to 8.93 million barrels per day. In the US, District Judge Jane Beckering dismissed Michigan’s antitrust lawsuit against Exxon, Chevron, Shell, and BP over electric vehicle competition.
Russia & CIS
Moscow will finance the majority of pipeline construction to supply Iranian natural gas to Russia, according to official announcements. In downstream infrastructure, Kazakhstan initiated modernization across three domestic refineries to expand total processing capacity to 28.8 million tonnes. On domestic fuel regulation, lawmakers in Irkutsk Oblast enacted a ban on retail petrol and diesel sales to minors. Meanwhile, Russian Housing Minister Irek Fayzullin confirmed that all Russian regions completed required winter coal and mazut stockpiles. In defense logistics, Russian Deputy Defense Minister Valery Solodchuk reported the delivery of over 27,000 tonnes of fuel to remote Far North garrisons.
Armenia
Armenian Prime Minister Nikol Pashinyan announced that Armenia has successfully diversified its petroleum products and import supply routes, news.am reported. On nuclear infrastructure, Prime Minister Nikol Pashinyan confirmed ongoing bilateral discussions with the US, Russia, China, France, and South Korea regarding new nuclear power plant construction. At the World Energy Regulation Forum, Armenian delegates addressed energy affordability and tariff accessibility. Meanwhile, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Natural gas supplies and Armenian Nuclear Power Plant operations proceed without disruption under EAEU trade agreements, shielding domestic consumers from global price volatility recorded by international market price assessments.