President Donald Trump has rejected an Iranian proposal to reopen the Strait of Hormuz within seven days and resume nuclear talks in exchange for lifting the U.S. naval blockade. Trump told reporters Iran should immediately open the strait, suggesting the conflict may continue past the midterm elections.
Russia's Perm oil refinery, the seventh-largest in the country by refining capacity, shut down operations on September 25 following a Ukrainian drone attack that caused fires and damaged pipelines, storage facilities, and processing units including the AVT-5 crude distillation unit.
Ship-to-ship transfer operations in the Gulf of Oman have reached their operational limits after Saudi Arabia redirected crude oil exports away from the Red Sea through the Strait of Hormuz. The surge in Saudi exports, which have hit their highest levels since the Iran conflict began, is straining the existing transfer infrastructure used to move oil from inside the strait to tankers bound for international markets.
The Trump administration is preparing a 90-day ban on diesel exports to address record-high fuel prices, despite opposition from Energy Secretary Chris Wright and industry leaders who warn it could backfire and raise other fuel costs.
Russia's Moscow Oil Refinery, owned by Gazprom Neft, completely halted crude oil processing after Ukrainian drones struck both primary distillation units on September 20, causing fires. Russia's total oil refining capacity has reportedly fallen 45% following the attack.
Two tankers were hit by unknown projectiles or debris in the Strait of Hormuz on September 21, injuring at least two crew members. The incidents occurred amid heightened tensions, with Iran's Revolutionary Guard warning the US against escalation days after a separate attack left two sailors missing.
Stock markets rallied globally as oil prices declined for multiple consecutive days, driven by optimism over renewed US-Iran diplomatic engagement and ongoing US-China trade talks. The dollar strengthened to two-month highs amid expectations of interest rate hikes, while easing crude prices offered relief on inflation concerns.
President Donald Trump's military conflict with Iran, launched in late February 2026, is creating economic headwinds globally, with UK Prime Minister Andy Burnham's government warning the war will complicate next month's budget. While oil prices have risen significantly, China's oil stockpiles have prevented the dramatic price spikes analysts initially predicted.
French President Emmanuel Macron announced Friday that G7 countries will convene an emergency meeting in the coming weeks to coordinate on energy security as fuel prices spike due to the ongoing US-Iran war. Macron also warned of mounting hybrid attacks during the crisis.
Commodity vessel traffic through the Strait of Hormuz has fallen sharply to as few as three to four ships daily, well below the 10-day average of 16, as conflict in the Gulf intensifies. Iran's IRGC struck a Togo-flagged tanker, though some LNG shipments are attempting to transit the critical energy chokepoint.
Poland's state energy company Orlen lost up to $424 million after a $230 million USDT cryptocurrency payment for discounted Venezuelan crude oil disappeared following a covert deal that began in late 2023. The payment vanished on USB drives in a collapsed transaction.
President Trump signed the Lindsey Graham Sanctioning Russia and Iran Act of 2026, authorizing tariffs up to 100% on countries purchasing Russian oil. India warned the measures could damage bilateral ties and vowed to protect its energy security.
Houthi drone strikes forced Saudi Arabia to close its key East-West pipeline capable of transporting 7 million barrels per day, causing oil prices to surge with Brent crude topping $109 and WTI reaching $105. The pipeline was later restored, easing supply concerns.
Yemen's Iran-backed Houthi rebels have seized the strategic Hanish islands and Perim Island in the Red Sea, completing their takeover of Yemen's entire Red Sea coastline and tightening control over the Bab al-Mandab Strait, a vital shipping route for global oil supplies. The advance has raised concerns about potential disruptions to energy corridors and increased pressure on Saudi oil exports.
President Donald Trump called on Ukrainian President Volodymyr Zelensky to stop targeting Russia's diesel fuel infrastructure and refineries, claiming the attacks are contributing to a global diesel shortage and hurting the world. The request comes as diesel prices surge amid ongoing conflict in Iran.
US producer price index rose 5.4% year-over-year in August, exceeding forecasts of 5.3%, as Brent crude topped $107 per barrel amid Middle East tensions, increasing pressure on the Federal Reserve ahead of its September meeting.
Consumer prices rose 3.4% annually in August, unchanged from July, as the Iran war pushed gasoline and diesel prices higher. The persistent inflation increases pressure on the Federal Reserve to raise interest rates next week.
Brent crude oil prices topped $100 per barrel for the first time since July as the United States destroyed five Iranian oil tankers and Iran launched retaliatory ballistic missile attacks, raising fears of supply disruptions through the Strait of Hormuz.
President Trump stated the ongoing Iran war, now in its sixth month, will not end until after November's midterm elections, with oil prices expected to remain elevated. His comments came during the Republican midterm convention in Dallas, where the conflict was largely sidelined despite its impact on the campaign.
Brent crude oil prices surged to near $100 per barrel after Saudi Arabia reported attacks by Iran-aligned Houthi militants on energy facilities, causing temporary operational disruptions. Additional strikes were reported at Iran's Kharg Island export hub, raising fears of supply disruptions in the Middle East.
Iran's Supreme National Security Council announced plans to establish a restricted zone outside the Strait of Hormuz targeting vessels attempting to transit the strategic waterway. The move comes amid escalating tensions and recent exchanges of fire between Iran and the United States.
Oil prices rose sharply this week, driven by escalating military hostilities between the United States and Iran that have heightened concerns over Middle East supply disruptions. Brent crude surged above $95 as crossings through the Strait of Hormuz declined amid the renewed conflict.
US diesel prices reached an all-time high of $5.85 per gallon on September 4, surpassing the previous June 2022 record, driven by the six-month US-Iran conflict disrupting global fuel flows. The price surge threatens higher costs for transportation and refrigerated goods.
Oil giant Chevron confirmed plans to invest more than $7 billion through its Venezuela joint ventures to double oil production to about 600,000 barrels per day over the next five years, following President Trump's announcement of a US-Venezuela oil deal.
The Trump administration announced a deal to secure long-term access to a portion of Venezuela's massive oil reserves, with the US taking majority control of more than 65 billion barrels. The agreement comes as US strategic reserves have fallen to 40-year lows.
President Trump announced that the U.S. has secured a deal with Venezuela to take control of a significant portion of the country's proven oil reserves, which he described as historic and aimed at lowering gas prices. The agreement comes as U.S. strategic reserves have fallen to 40-year lows.
Oil prices climbed to three-week highs as peace talks between the United States and Iran collapsed, with Iran shifting to an offensive military posture and shipping through the Strait of Hormuz drastically reduced following attacks. A temporary ceasefire agreement expired without extension.
Treasury Secretary Scott Bessent announced on August 20, 2026 that the United States will impose unprecedented economic sanctions on Iran aimed at collapsing the Tehran government, warning allies and China they must choose to be "with us or against us." The announcement, which comes amid an existing naval blockade, caused oil prices to rise 2% on concerns about supply disruptions.
Ukrainian forces struck Russia's TANECO oil refinery in Tatarstan and the Tamanneftegaz oil terminal in Krasnodar Krai on August 20, causing fires at both facilities. The attacks are part of Ukraine's ongoing campaign targeting Russian oil infrastructure tied to military fuel supply.
Oil prices jumped after a two-month US-Israel-Iran ceasefire window expired without a peace deal, while conflicting claims emerged over the Strait of Hormuz's status and a vessel was hit by an unknown projectile. Iran rejected UAE accusations of firing a ballistic missile, prompting Abu Dhabi to freeze trade with Tehran.
At least two ships were attacked in the Strait of Hormuz, killing at least one sailor, as Iran enforces restrictions on maritime traffic through the vital waterway. Despite the attacks and slowed traffic, covert oil shipments exceeding 4 million barrels per day are helping keep global prices in the $80-90 range.
Most Asian share indices are heading for weekly declines as stress in global bond markets continues and diplomatic deadlock in the Gulf pushes oil prices to one-month highs. Investors are turning to safe haven assets like gold and Bitcoin amid the market turbulence.
Venezuela has signed its first oil production contracts with US companies including Hunt Oil and SLB since the US captured Nicolás Maduro in January, while BP secured rights to develop an offshore gasfield. The deals mark significant progress in the Trump administration's push to rebuild Venezuela's energy sector, with oil flows to US refineries quadrupling to 500,000 barrels per day since 2025.
A Russian oil refinery in Orsk, located more than 1,300 kilometers from Ukraine, has been completely shut down following a Ukrainian drone strike, with repairs expected to take up to six months according to the local governor.
The United Arab Emirates blamed Iran for conducting drone strikes on two oil tankers operated by state-owned ADNOC while transiting the Strait of Hormuz on Thursday evening. The UAE called the attacks acts of piracy and demanded the immediate reopening of the strategic waterway, while Arab nations and the Gulf Cooperation Council condemned the strikes as threats to maritime safety and global energy security.
A blast at a petroleum product storage facility at the Port of Rotterdam in the Netherlands killed one person and injured six others on Thursday. Police are investigating the cause of the explosion, which occurred during maintenance work near a tank farm at the Gunvor Energy refinery.
Ukrainian forces struck the Gazprom Neftekhim Salavat oil refining and petrochemical complex in Russia's Bashkortostan republic, approximately 800 miles from the border, causing a fire at the facility. The attack marks the fourth refinery strike in three days as part of Ukraine's ongoing campaign to target Russia's vital oil sector.
OPEC reduced its forecast for 2026 world oil demand growth to 580,000 barrels per day, down from 780,000, marking the fourth consecutive downward revision. The adjustment was detailed in the organization's monthly report released Wednesday.
The latest offshore oil and gas lease auction in the Gulf of Mexico attracted $82.7 million in high bids, more than the March sale but significantly less than December's auction. The sale was the third held under the Trump administration's One Big Beautiful Bill Act.
Saudi crude oil tankers are switching off tracking signals to avoid attacks by Yemen's Houthis, with all recent Yanbu loadings conducted without transponders. The escalation follows a Houthi strike that killed six people on a Red Sea ship and fresh missile attacks on Yemeni provinces.
Vessel traffic in the Strait of Hormuz fell to a one-week low of eight ships on Tuesday as shipping owners avoided the strategic waterway due to continued hostilities in the Middle East. The decline comes amid ongoing regional tensions affecting the critical oil transit route.
Ukraine has halted drone strikes on oil tankers using Russia's Black Sea port of Novorossiysk following a request from US Vice President JD Vance, according to Ukrainian officials. The pause comes despite recent Ukrainian attacks on the port that killed three people and damaged grain terminals.
Iran continues to block the Strait of Hormuz pending U.S. agreement to its demands, while the U.S. Energy Information Administration warns that some Middle East oil producers will struggle to restore output to pre-conflict levels through the end of 2027, even if trade patterns normalize by early next year.
A series of drone strikes targeted Libya's largest operating oil refinery in Zawiya, sparking a massive fire, followed by an attack on the South Zawiya power substation that caused widespread electricity outages. The National Oil Corporation warned it may halt refinery operations if attacks continue.
Ukrainian forces attacked several major oil and petrochemical facilities deep inside Russian territory, including the Taneco refinery in Tatarstan and a refinery in Orsk, as part of an escalating campaign targeting Russia's energy infrastructure. The strikes come as Ukraine has submitted new proposals to U.S. negotiators aimed at ending the four-year conflict.
The U.S. Strategic Petroleum Reserve has dropped to 298.7 million barrels, its lowest level since January 1983, as the Trump administration releases crude oil amid an ongoing war in Iran. Oil prices have jumped above $80 per barrel amid concerns over the Strait of Hormuz.
Oil prices climbed as negotiations between the US and Iran to reopen the Strait of Hormuz reached an impasse, with Tehran demanding major concessions before allowing the critical waterway to resume operations. Attacks on ships in the Middle East continued while global demand forecasts were cut.
President Donald Trump extended a waiver of the Jones Act for another 90 days, allowing foreign-flagged ships to transport oil, fertilizers, and other commodities between U.S. ports, but imposed new limits after pressure from shipbuilders. The extension, effective August 17, aims to keep fuel costs down as the war in Iran disrupts crude oil flows.
Tehran has stated it will require concessions from the United States before agreeing to reopen the Strait of Hormuz, a critical global oil shipping chokepoint. The development suggests an ongoing closure or blockage of the strategic waterway.
Waha Oil Company successfully contained a leak on the Zaqout-Sidra pipeline within 24 hours of detection during routine inspection and resumed pumping operations at 4:00 a.m. Saturday. The pipeline typically transports between 340,000 and 400,000 barrels of oil per day.
Iran has issued steep demands including US compensation and sanctions relief as conditions for reopening the Strait of Hormuz, threatening to derail a potential deal with Oman despite earlier optimism. The standoff has pushed oil prices above $83 per barrel and drawn sharp responses from President Trump.
Following U.S. warnings, Ukraine has agreed not to target certain non-Russian oil tankers and Black Sea infrastructure critical for Kazakhstan's crude oil exports, including the Caspian Pipeline Consortium terminal. The agreement comes after Ukrainian strikes in July halted loadings and disrupted energy supplies to Europe.
Russia imported nearly 30,000 metric tons of refined fuels from South Korea in late July and record-high volumes from Belarus, as Ukrainian drone attacks on Russian oil refineries have caused widespread fuel shortages and forced Moscow to seek emergency imports.
The Senate overwhelmingly approved sweeping Russian sanctions legislation Friday that would allow President Trump to impose 100% tariffs on the world's top five purchasers of Russian oil and gas, including India and China. The bill, championed by Sen. Lindsey Graham before his unexpected death in July, now heads to the House of Representatives.
The Senate overwhelmingly approved sweeping Russian sanctions legislation Friday that would allow President Trump to impose 100% tariffs on the world's top five purchasers of Russian oil and gas, including India and China. The bill, championed by Sen. Lindsey Graham before his unexpected death in July, now heads to the House of Representatives.
Ukrainian drone attacks on Russian oil facilities and Black Sea shipping routes reduced Caspian Pipeline Consortium oil loadings by one-fifth in July, disrupting Kazakhstan's exports and adding strain to global commodity markets already facing Middle East tensions.
Ukrainian forces hit two oil refineries deep inside Russian territory in overnight attacks, President Volodymyr Zelenskyy announced Thursday, continuing a 40-day campaign targeting Russia's energy infrastructure and wartime economy. The strikes hit facilities including the Slavneft-Yanos refinery, located thousands of kilometers from the border.
Iran-aligned Houthi militants in Yemen launched missile attacks on Saudi oil tankers in the Red Sea and Gulf of Aden, prompting at least six Saudi-flagged supertankers to divert toward southern Africa. The attacks mark a resumption of Houthi targeting of Saudi vessels after a nine-month pause.
Indian oil refiners are increasingly purchasing crude from West African sources, including Nigerian grades, while some seek to avoid Gulf routes through the Strait of Hormuz and Red Sea amid ongoing regional tensions. Mangalore Refinery bought 1 million barrels of Oman crude while Hindustan Petroleum purchased 2 million barrels of Nigerian crude for its Rajasthan refinery.
The Liberian-flagged bulk carrier Minoan Pioneer was hit by an unidentified projectile in the Strait of Hormuz near Oman's coast, causing a fire and complete blackout in the engine room. The ship's third engineer is missing after the crew abandoned vessel, marking the fourth such incident in the region in five days.
US Treasury Secretary Scott Bessent indicated a deal between the US and Iran over control of the Strait of Hormuz could come as soon as Tuesday, causing oil prices to drop. President Trump later said talks are Iran's 'last chance' before potential strikes, though Iran denied negotiations were ongoing.
An EU naval mission led by Italy boarded a tanker from Russia's so-called 'shadow fleet' in international waters off Pantelleria, between Sicily and Tunisia, marking the second such operation in less than two weeks. The operation was conducted with support from Greek and Polish forces as part of arms and oil trafficking monitoring efforts.
The alliance of oil-producing nations has reached an agreement in principle to increase production targets by approximately 188,000 barrels per day starting in September, followed by a suspension of further increases through the fourth quarter of 2026.
The UK Maritime Trade Operations (UKMTO) reported two maritime incidents off Oman on Saturday, including a tanker struck by an unknown projectile approximately 11 nautical miles northeast of Lima, leaving the vessel not under command with engine room damage. A second incident involved reports of a large splash and explosion near another tanker.
Japan is managing energy security concerns through strategic reserves, subsidies, and nuclear power restarts as a crisis affecting shipping through the Strait of Hormuz continues to disrupt Gulf oil and gas supplies.
Growing concerns about Gulf oil supply reliability are becoming entrenched among global buyers as the Middle East remains caught between war and peace, with Iran's increasing grip on the Strait of Hormuz creating a troubling new normal for regional energy exports.
A geopolitical analysis explores how African nations could economically and strategically benefit from increased energy exports if the Strait of Hormuz faces disruption, while noting that structural weaknesses may limit the continent's ability to capitalize on such opportunities.
Russia has extended its restrictions on diesel and gasoline exports until January 31, 2027, prioritizing domestic fuel supply despite announcing just days earlier that the diesel ban would be lifted once the domestic market recovered. The extension includes some exceptions for direct producers starting September 1.
Saudi Arabia is working to form an international coalition to safeguard shipping in the Red Sea as Houthi strikes on energy tankers intensify, driving oil prices higher and threatening critical maritime trade routes.
Two ships used for gas processing and storage caught fire at Egypt's Damietta port, with security sources reporting a drone strike on a US-owned tanker. Egypt's petroleum ministry confirmed the fire but did not mention a drone attack or specify a cause, stating no injuries occurred and port operations were expected to resume overnight.
Ukrainian drone attacks on tankers and port infrastructure at Russia's Novorossiysk and Taman facilities have forced the third shutdown this month of the Caspian Pipeline Consortium terminal, Kazakhstan's primary oil export gateway. The strikes have disrupted both oil and grain shipments from Russian Black Sea ports.
Oil prices have fluctuated dramatically amid ongoing tensions in the Strait of Hormuz, with crude briefly falling below $90 per barrel after a pause in US-Iran hostilities, though the crisis previously pushed prices above $100. Attacks on oil tankers continue to threaten the critical shipping lane that handles a significant portion of global oil trade.
The United States and Iran halted their mutual attacks over the weekend after 13 consecutive nights of strikes, creating space for diplomatic negotiations. However, Saudi Arabia, Jordan, and Iraq reported drone attacks on Monday, suggesting Iran may be testing the fragile pause while oil prices tumbled on hopes for de-escalation.
President Donald Trump vowed major retaliation against Iran and the Houthis after the group said it had attacked two Saudi oil tankers in the Red Sea, threatening to extend the Middle East conflict to another critical shipping chokepoint. Oil prices surged above $100 per barrel amid fears of wider shipping disruption, while the U.S. military carried out another round of strikes on Iran.
Brent crude oil climbed above $100 per barrel for the first time in 45 days after Houthi attacks on Saudi tankers in the Red Sea and President Trump's warning of infrastructure strikes against Iran for each attack in the Strait of Hormuz.
Yemen's Iran-backed Houthi rebels declared a maritime embargo against Saudi Arabia, causing at least two oil tankers carrying Saudi crude to China and India to make U-turns in the Red Sea. The move opens a new front in the escalating U.S.-Iran conflict and threatens shipping through critical energy chokepoints.
China's economy slowed sharply to 4.3% annual growth in the second quarter of 2026, missing analyst expectations and marking the weakest performance since late 2022. The slowdown was driven by weak domestic demand and oil price shocks from the Iran war, putting pressure on policymakers to accelerate stimulus measures.
A Ukrainian drone attack on July 14, 2026, forced the shutdown of the Gazprom Neftekhim Salavat petrochemical complex in Bashkortostan, which handles approximately 2.7% of Russia's oil refining capacity. Two main refining units were damaged, with repairs potentially taking weeks or months.
Russian authorities in Siberian regions including Novosibirsk and Tomsk are asking residents to work from home and limit vehicle use amid a worsening nationwide fuel crisis. Citizens are converting cars to LPG as gasoline shortages, price increases, and long queues at filling stations spread across the country.
Iran privately told Trump advisers they "made a mistake" after attacking commercial ships in the Strait of Hormuz, which prompted U.S. military strikes and caused a steep decline in tanker traffic through the critical waterway. The incident has raised questions about the administration's Iran strategy as tensions escalate.
Oil, gas, and cargo ship traffic through the Strait of Hormuz has fallen steeply despite a June 17 memorandum of understanding between the United States and Iran to end hostilities and restore shipping through the vital waterway. Complex technical, commercial, and geopolitical obstacles continue to impede recovery of Gulf energy flows to prewar levels.
Maritime traffic through the Strait of Hormuz has fallen steeply after renewed military confrontation between the United States and Iran, following the collapse of a preliminary peace agreement and Iranian attacks on commercial vessels. The disruption is causing significant impacts on global energy markets.
Russia has imposed a full ban on diesel exports following systematic Ukrainian drone attacks on its oil refineries that caused widespread domestic fuel shortages and price spikes. The move comes as global energy markets face additional strain from disruptions in the Strait of Hormuz.
Ukraine launched a sustained campaign of drone attacks targeting Russian refineries, oil depots, and fuel tankers, striking over 20 vessels and multiple facilities in recent days. The offensive has triggered fuel shortages across Russia, prompting Moscow to ban diesel exports to stabilize domestic supplies.
The United States military conducted air strikes against targets in southern Iran in retaliation for Iranian attacks on commercial vessels in the Strait of Hormuz, while the Trump administration simultaneously revoked sanctions waivers on Iranian oil sales. Iran has vowed a 'crushing response' to the strikes.
Russia is experiencing widespread fuel shortages leading to extensive queues at petrol stations, rising prices, and growing public frustration. The crisis, linked to Ukraine's strikes on Russian refineries and the ongoing war's economic toll, has forced Putin to publicly acknowledge the problem in a rare admission of domestic difficulty.
Iran's military fired at least two missiles at commercial ships transiting the Strait of Hormuz on Monday, setting at least one tanker ablaze. The attacks occurred as Iran mourns Supreme Leader Khamenei and as President Trump heads to a NATO summit.
Ukraine's military conducted one of its deepest strikes into Russian territory since the full-scale invasion, hitting the ELOU-AVT-11 primary oil processing unit at Russia's largest oil refinery in Omsk, Western Siberia. The attack comes as Russia continues missile and drone strikes on Ukraine that killed at least 19 people in Kyiv.
Multiple vessels attempting to exit the Strait of Hormuz made abrupt U-turns on July 4-5, 2026, with ship traffic along the Omani coast dropping sharply as some tankers shifted to routes closer to Iran. Iran has previously stated that vessels should only transit through routes designated by the Islamic Republic, though the exact cause of the reversals remains unclear.
Ukraine launched a major overnight drone attack on Russia's second-largest city St. Petersburg and surrounding areas, hitting an oil terminal described as one of Russia's largest and nearby port infrastructure. The strike represents the latest in Ukraine's ongoing campaign of long-range attacks targeting Russian oil facilities.
Oil and gas tankers made unexplained U-turns in the U.S.-protected corridor of the Strait of Hormuz before resuming passage via Oman-side routes, as Iran demands toll fees for ships transiting the vital energy chokepoint. The disruption highlights ongoing U.S.-Iran negotiations and Oman's delicate diplomatic position.
Iran has warned oil tankers to use approved routes through the Strait of Hormuz or face a 'forceful response,' with BBC reporters witnessing seized vessels and stranded tankers. Oman is navigating a delicate diplomatic position over the new fees and restrictions in the critical waterway.
Months of Ukrainian drone attacks on Russian oil refineries have created a severe fuel shortage, forcing the Kremlin to take the rare step of importing gasoline while long lines form at gas stations across the country. The crisis has compelled Russia to tap into fuel reserves as refinery capacity remains crippled.
President Donald Trump and Treasury Secretary Scott Bessent publicly demanded that gasoline retailers immediately reduce prices, with Bessent warning "we're watching." The pressure comes as crude oil prices have fallen following progress on reopening the Strait of Hormuz and a memorandum of understanding with Iran, though gas prices had risen 40.5% year-over-year through May.
Ukraine conducted long-range drone attacks on Russian oil refineries, igniting a major facility in southern Russia and killing at least two people. President Vladimir Putin publicly acknowledged Russia is experiencing a difficult period as Ukraine intensifies strikes on energy infrastructure up to 1,200 miles inside Russian territory.
Ukrainian forces have escalated long-range drone attacks on Russian territory, striking oil refineries up to 1,200 miles inside Russia, prompting emergency declarations in occupied Crimea and vows from President Putin to ensure security amid the four-year conflict.
A fragile shipping recovery in the Strait of Hormuz following a U.S.-Iran deal has been disrupted by an estimated 80 mines in shipping lanes and a renewed attack on a vessel, forcing the UN to pause evacuation operations. Industry leaders warn the mines could delay normal shipping for months.
French naval forces intercepted and seized a Russia-linked oil tanker named Deliver off the coast of Sicily on Tuesday, according to President Emmanuel Macron. The seizure is part of escalating European efforts to enforce sanctions and disrupt Russia's shadow fleet operations that help circumvent oil export restrictions.
