US President Donald Trump announced an immediate energy ceasefire between Russia and Ukraine, while US Treasury Secretary Scott Bessent defended Russian diesel imports to lower domestic fuel costs. Meanwhile, the Russian government considered a moratorium on diesel dampener zeroing, and Armenia surpassed neighboring regional countries in retail petrol prices.
Global market
US Treasury Secretary Scott Bessent defended executive waivers allowing Russian diesel imports into global and US markets, calling the agreement beneficial for American consumers and rejecting criticism from European officials. Addressing persistent supply risks, IEA Executive Director Fatih Birol urged considering additional diesel releases from emergency reserves, citing ongoing attacks against Saudi Arabian infrastructure. In the Middle East, Ansar Allah military spokesman Yahya Saria reported drone and missile strikes targeting Saudi energy assets and airports. In Europe, UK North Sea oil producers pressed Prime Minister Andy Burnham to eliminate windfall taxes, while Australia approved a massive coal project extension in New South Wales through 2045.
Russia & CIS
US President Donald Trump declared an immediate energy ceasefire between Russia and Ukraine, though Ukrainian President Volodymyr Zelenskyy noted the announcement was unexpected and criticized US-Russia fuel arrangements. Following the diplomatic friction, The Wall Street Journal reported that US-Ukraine relations fell to an 18-month low. To safeguard domestic refiners, the Russian government is evaluating a moratorium on zeroing diesel dampener payouts if wholesale prices exceed benchmark levels by 30%. In nuclear energy, Rosatom Director General Alexey Likhachev reported that 135 specialists have been deployed to Iran’s Bushehr NPP, while Ukrainian drone attacks halted operations at Yandex’s Vladimir data center.
Armenia
Armenia surpassed neighboring regional countries in retail petrol prices, according to the latest market monitoring data, driven by supply chain dynamics in Transcaucasia. Despite local fuel price inflation, retail prices for diesel and compressed natural gas in Armenia remain relatively stable. Natural gas shipments from Russia and generation at the Armenian Nuclear Power Plant continue at full capacity under long-term EAEU trade agreements shielding the domestic energy sector from international market volatility recorded by international market price assessments.