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	<title>energy trade &#8211; The Milli Chronicle</title>
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	<title>energy trade &#8211; The Milli Chronicle</title>
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		<title>EU Naval Inspections Trigger Sharp Russian Warning Over Oil Tanker Seizures</title>
		<link>https://millichronicle.com/2026/06/68651.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Wed, 10 Jun 2026 14:26:20 +0000</pubDate>
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		<category><![CDATA[Caribbean energy markets]]></category>
		<category><![CDATA[energy trade]]></category>
		<category><![CDATA[EU sanctions]]></category>
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		<category><![CDATA[moscow]]></category>
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		<category><![CDATA[oil tankers]]></category>
		<category><![CDATA[Operation IRINI]]></category>
		<category><![CDATA[russia]]></category>
		<category><![CDATA[Russian oil]]></category>
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		<category><![CDATA[shadow fleet]]></category>
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					<description><![CDATA[Moscow-Russia on Wednesday condemned a European Union decision to authorize naval vessels operating in the Mediterranean to stop and inspect]]></description>
										<content:encoded><![CDATA[
<p><strong>Moscow-</strong>Russia on Wednesday condemned a European Union decision to authorize naval vessels operating in the Mediterranean to stop and inspect ships suspected of transporting Russian oil as part of what Brussels describes as a “shadow fleet,” warning that Moscow would take legal and other measures to protect affected vessels and their operators.</p>



<p>The dispute follows the EU’s decision on Monday to expand the mandate of Operation IRINI, a naval mission established to enforce the United Nations arms embargo on Libya. Under the revised mandate, EU military vessels operating in the Mediterranean will be able to stop and inspect foreign ships suspected of circumventing sanctions through the transport of Russian oil.</p>



<p>Russian Foreign Ministry spokeswoman Maria Zakharova said the move represented a threat to maritime security and accused the EU of attempting to intimidate civilian shipping under the guise of sanctions enforcement.</p>



<p>“The European Union’s deployment of ships from the IRINI naval operation in the Mediterranean to inspect or seize, as they now say, vessels carrying oil products would constitute a flagrant violation of international law,” Zakharova told a briefing in Moscow.</p>



<p>Zakharova rejected the EU’s characterization of a Russian-linked “shadow fleet,” describing the term as a political construct rather than a recognized legal category under international law. She argued that the planned inspections lacked a valid legal basis and risked undermining established principles governing international navigation.</p>



<p>She said Russia reserved the right to employ “the full arsenal of political, legal, and other instruments” to safeguard maritime security and protect the interests of shipowners and commercial operators involved in the transportation of oil products.</p>



<p>The EU has increasingly targeted vessels it believes are helping transport Russian oil outside Western sanctions frameworks imposed following Moscow’s actions in Ukraine. European officials have argued that tighter monitoring of tanker activity is necessary to strengthen sanctions enforcement and reduce opportunities for evasion.</p>



<p>The latest disagreement highlights growing tensions between Moscow and Brussels over the implementation of sanctions and the policing of maritime trade routes, particularly in areas where commercial shipping intersects with broader geopolitical disputes.</p>
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		<title>Chinese-Owned Tanker Hit Near Hormuz Escalates Maritime Security Fears</title>
		<link>https://millichronicle.com/2026/05/66588.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Thu, 07 May 2026 14:50:45 +0000</pubDate>
				<category><![CDATA[Asia]]></category>
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		<category><![CDATA[crude oil imports]]></category>
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		<category><![CDATA[oil tanker]]></category>
		<category><![CDATA[regional escalation]]></category>
		<category><![CDATA[Strait of Hormuz]]></category>
		<category><![CDATA[tanker attack]]></category>
		<category><![CDATA[uae]]></category>
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					<description><![CDATA[Beijing &#8211; A Chinese-owned refined-products tanker was attacked near the entrance to the Strait of Hormuz earlier this week, marking]]></description>
										<content:encoded><![CDATA[
<p><strong>Beijing</strong> &#8211; A Chinese-owned refined-products tanker was attacked near the entrance to the Strait of Hormuz earlier this week, marking the first reported strike on a Chinese oil tanker since the escalation of conflict linked to the Iran war, Chinese financial outlet Caixin reported on Thursday.</p>



<p>The tanker was attacked off the UAE’s Al Jeer Port on May 4, according to the report, which cited people familiar with the incident. The vessel’s deck caught fire during the attack and bore markings reading “CHINA OWNER &amp; CREW,” Caixin said.</p>



<p>No casualties or details regarding the extent of the damage were immediately disclosed.A person familiar with the shipowner told Caixin the incident represented the first known attack involving a Chinese oil tanker in the region, describing the event as “psychologically very hard to accept.”The strike comes amid mounting security risks around the Strait of Hormuz, a strategic maritime chokepoint through which a significant share of global oil and fuel shipments passes daily.</p>



<p>Shipping activity across the Gulf region has faced heightened disruption since the outbreak of hostilities involving Iran, the United States and Israel earlier this year. Regional tensions have raised concerns among energy traders, insurers and shipping operators over vessel safety and supply-chain stability.</p>



<p>The reported attack follows a series of incidents affecting commercial shipping near Hormuz, including claims and denials involving vessels linked to South Korea and other Asian economies heavily dependent on Gulf energy supplies.China, the world’s largest crude oil importer, relies heavily on Middle Eastern energy exports transported through the Strait of Hormuz. </p>



<p>Beijing has repeatedly called for stability in the Gulf and urged all parties to avoid actions that could threaten international trade routes.Neither Chinese authorities nor UAE officials immediately issued public statements regarding the reported attack.</p>
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		<title>South Korea’s Lee seeks trade surge with India in Modi summit</title>
		<link>https://millichronicle.com/2026/04/65517.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Mon, 20 Apr 2026 03:40:55 +0000</pubDate>
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		<category><![CDATA[Lee Jae Myung]]></category>
		<category><![CDATA[naphtha]]></category>
		<category><![CDATA[Narendra Modi]]></category>
		<category><![CDATA[shipbuilding]]></category>
		<category><![CDATA[south korea]]></category>
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		<category><![CDATA[Vietnam visit]]></category>
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					<description><![CDATA[Seoul— South Korean President Lee Jae Myung is set to hold talks with Indian Prime Minister Narendra Modi in New]]></description>
										<content:encoded><![CDATA[
<p><strong>Seoul</strong>— South Korean President Lee Jae Myung is set to hold talks with Indian Prime Minister Narendra Modi in New Delhi on Monday, aiming to significantly expand economic cooperation and nearly double bilateral trade to $50 billion by 2030.</p>



<p>The visit marks the first state trip by a South Korean president to India in eight years and comes as both countries seek to strengthen supply chain resilience amid global economic uncertainty linked to the Iran conflict.Lee said the current level of economic cooperation between the two countries remains limited and called for a substantial expansion of ties.</p>



<p> Officials from Seoul said the two sides plan to upgrade their Comprehensive Economic Partnership Agreement to boost trade from $25.7 billion recorded last year.Discussions are expected to cover sectors including shipbuilding, finance, artificial intelligence and defence, with Lee also scheduled to attend business events alongside corporate leaders during his visit.</p>



<p>South Korea has increasingly looked to India as a key partner in diversifying supply chains, particularly as disruptions in the Middle East affect energy flows. Last month, Seoul sought increased naphtha supplies from India to offset potential shortages linked to regional tensions.</p>



<p>India accounted for about 8% of South Korea’s naphtha imports last year, and officials say expanding energy trade could also help address imbalances in bilateral commerce. South Korea recorded a trade surplus of $12.8 billion with India, exporting $19.2 billion worth of goods while importing $6.4 billion, according to Korea International Trade Association data.</p>



<p>Analysts say closer cooperation in shipbuilding could emerge as a focal point, aligning India’s employment priorities with South Korea’s industrial strengths. Consumer goods and food sectors tied to the global popularity of Korean culture are also seen as potential growth areas.</p>



<p>Lee is expected to travel to Vietnam after concluding his India visit, as part of a broader regional outreach strategy.</p>
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