Indonesia Lifts Palm Oil Export Ban

Fourth EstateBottles of Palm Oil

Indonesia will lift its three-week-old palm oil export ban starting May 23 following improvements in domestic cooking oil supply, President Joko Widodo announced on Thursday. Widodo said in a video statement that the supply of bulk cooking oil had now …

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Russia Mulls Withdrawing from WHO and WTO

Fourth EstateRussian Federation seat card

The Russian Ministry of Foreign Affairs has submitted a list of international agreements for the possible denunciation to the Russian State Duma. According to Petr Tolstoy, vice-speaker of the Duma, quoted in a report by Kommersant newspaper, the World Trade …

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Azerbaijan Emerges As Hub For Transporting Goods To EU: Official

Fourth EstateRail cargo cars and containers in Azerhaijan

Azerbaijan said Tuesday that it has emerged as a hub for transporting goods to the European Union countries, and assured to work more to improve this supply chain. “We are not transporting goods to the EU countries only but also …

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India Bans Wheat Exports Over Domestic Supply Shortages

Fourth EstateWoman harvesting wheat, Raisen district, Madhya Pradesh, India. - Yann Forget

India, the second-largest producer of wheat, banned exports of wheat after a scorching heatwave caused a spike in domestic prices, threatening local food security amid strong global demand. In a Commerce Ministry notice, the Indian government said the decision was …

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China Urges US to Cancel Additional Tariffs on Chinese Goods

Fourth EstateChinese Goods - ThiNguyen2021

China urged the United States to reconsider and cancel the additional tariffs imposed on Chinese goods “as early as possible.” Chinese Foreign Minister Zhao Lijian said on Wednesday that the additional tariff imposed on Chinese goods was not in the …

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Russian Ships continue to Unload Oil in Europe

Fourth EstateOil Tanker in the Bosphorus - Teo Romera

Russian ships have continued to unload oil in Europe despite the European Union’s proposed complete import ban on all Russian oil. Gazprom announced Sunday that the company has continued delivering gas to Europe through Ukraine. A company spokesperson said that …

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EU to Propose Phasing Out Russian Oil, Eyes Ban By Year-End

Werner_BNord Stream Pipeline - Werner_B

The European Union is reportedly set to propose phasing out of Russian oil ahead of plans to stop importing Moscow’s highly lucrative energy products by the end of the year. The EU’s executive branch, the European Commission, is drafting a …

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Algeria Threatens to Cut Natural Gas Exports to Spain Over Morocco Spat

Algeria warned on Wednesday that it would stop delivering gas to Spain if Madrid re-exports supplies to other countries, citing tensions over plans to divert Algerian gas to Morocco. Algeria’s Energy and Mines Minister Mohamed Arkab said his Spanish counterpart …

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EU Proposes Suspension of Ukraine Import Duties

The European Commission proposed on Wednesday to temporarily suspend import duties on all Ukrainian exports to support the trade flows from Ukraine to the European Union. The commission said that the present war in Ukraine has affected the country’s ability …

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Black Sea Shippers Face Premiums as High as $5 million

Fourth EstateThe cargo ship MSC Mirabella underway in the Black Sea. (file photo)

Merchant ships sailing the Black Sea are facing insurance costs as high as $5 million to include additional war-risk premium. Underwriters are charging 10 percent of the ship’s hull or the vessel’s worth as an asset. A $50 million tanker …

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