South Korea will invest nearly $200 billion into major US energy projects, while the White House considers imposing a ban on diesel fuel exports to contain domestic inflation. Simultaneously, the Russian government planned excise tax hikes on petroleum products for 2027–2029, and Georgia prepared to relocate a key section of the transit gas pipeline to Armenia.
Global market
South Korea will invest nearly $200 billion in major US energy projects, announced US President Donald Trump alongside US Commerce Secretary Howard Lutnick at the White House. Simultaneously, the White House confirmed it is evaluating a ban on diesel exports, previously proposed by US Treasury Secretary Scott Bessent, to control domestic fuel costs. In global supply lines, oil traffic through the Strait of Hormuz reached 13 million barrels per day, though shrinking Iranian supplies are forcing China’s independent refiners to compete for costlier alternatives. In Syria, a gas pipeline explosion at the Tishrin thermal power plant knocked three power stations offline, while Guyana’s crude production exceeded 900,000 barrels per day.
Russia & CIS
The Russian Government plans to raise excise taxes on petroleum products in 2027–2029 to boost budget revenues, according to a draft socio-economic development plan. In utility regulation, the Federal Antimonopoly Service (FAS) will oversee wholesale gas tariff adjustments taking effect October 1 and inspect regional electricity rate compliance against approved federal parameters. In agriculture, grain prices in southern Russia halved year-on-year, while Kyiv reintroduced scheduled power outages following severe energy infrastructure damage. Additionally, Russian and Central African Republic officials held talks to expand bilateral energy cooperation.
Armenia
Georgia will begin relocating a 5.5 km transit gas pipeline section supplying Armenia, with operating company officials confirming zero risk of supply disruptions during construction. Meanwhile, am.sputniknews.ru reported that Armenian energy analysts are monitoring the Strait of Hormuz, where tanker flows reached 13 million barrels per day despite ongoing volatility risks. Retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Natural gas imports and operations at the Armenian Nuclear Power Plant proceed without disruption under long-term EAEU trade agreements shielding domestic consumers from global market volatility recorded by international market price assessments.