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Desperate for Fuel, US Allies in Asia Are Turning to Its Adversaries Instead
Japan released emergency reserves and bought Russian naphtha as sanctions waivers and higher oil prices strained supplies, analysts said.
- On Friday, South Korea announced it would send a special envoy to Iran to secure safe passage for its vessels through the Strait of Hormuz, joining The Philippines and Japan in diversifying energy sources amid ongoing disruptions.
- President Donald Trump announced a two-week ceasefire on Tuesday to reopen the Strait of Hormuz, but told nations needing oil to "take the lead" and secure their own supplies after Iran closed the passage following February airstrikes.
- The Trump administration's mid-April sanctions waivers provided an inadvertent windfall for US adversaries: Russia earned between $3.3 billion and $5 billion in March alone, while Iran now exports about 1.7 million barrels daily at over $100 per barrel.
- Japan released a historic amount of emergency stockpiles last month to cushion price spikes, while Prime Minister Sanae Takaichi is working to arrange talks with Iran's president to address the energy crisis.
- Governments across Asia are increasingly questioning whether the American security umbrella extends to critical energy supply routes, leading nations to prioritize diversifying fuel sources—including purchases from United States rivals—to ensure long-term energy security.
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Australia Turns to Asia for Fuel, Security as US Distracted
(Bloomberg) — Australia is reinforcing links with its northern neighbors to secure fuel supplies and bolster defense ties as a US administration grows increasingly preoccupied with — and potentially weakened by — the war in Iran.
·Canada
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Coverage Details
Total News Sources11
Leaning Left2Leaning Right1Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 22%
C 67%
11%
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