Iran’s Islamic Revolutionary Guard Corps Navy reported hitting seven vessels in the Persian Gulf, while record fuel prices pushed European electric vehicle sales up by 60 percent. Concurrently, Armenian Prime Minister Nikol Pashinyan addressed Eurasian integration challenges amid steady domestic energy supplies.
Global market
Iran’s Islamic Revolutionary Guard Corps Navy claimed that seven vessels, including oil tankers, were struck or hit mines in the Persian Gulf, further escalating maritime risks. Meanwhile, record-high gasoline and diesel prices in Europe drove a 60% surge in battery electric vehicle sales in September, according to data from the European Automobile Manufacturers’ Association. In Asian crude trading, India’s oil imports from the Middle East rebounded 32% in September to 2.8 million barrels per day, accounting for 54% of its total imports as deliveries from Russia slowed. Additionally, shipping giant A.P. Moller-Maersk stated it expects all services to return to the Suez Canal by March 2027, COO Rabab Boulos confirmed.
Russia & CIS
Russia is open to diesel supply deals with European nations if official requests are submitted, stated Russian Direct Investment Fund CEO Kirill Dmitriev, while predicting an intensifying European fuel deficit. On long-term gas contracts, French major TotalEnergies plans to distribute its 20% share of Yamal LNG to non-EU markets after 2027, according to NOVATEK Chairman of the Board Leonid Mikhelson. Addressing macroeconomic shocks, Turkish Finance Minister Mehmet Simsek warned that the current global energy supply crisis is seven times larger than the 2022 disruption. Domestically, national currency settlements among EAEU member states exceeded 90%, confirmed Russian Deputy Foreign Minister Sergey Ryabkov.
Armenia
Armenian Prime Minister Nikol Pashinyan stated that managing relations within the EAEU remains a primary challenge, dismissing fears of an economic apocalypse regarding gas prices and calling for higher national competitiveness. Responding to regional integration friction, Head of the EU Delegation to Armenia Vassilis Maragos affirmed that Brussels is closely monitoring Armenia-EAEU developments. Despite broader market instability, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Direct gas imports from Russia and power production at the Armenian Nuclear Power Plant continue at full capacity under EAEU framework agreements, insulating the domestic market from fluctuations tracked in international market price assessments.