A Japanese lawmaker, Shoji Nishida, stated that energy cooperation with Russia would benefit Japan, which is facing resource supply issues due to the Strait of Hormuz blockade. He believes joint development and resource sharing would be mutually beneficial, and suggested US pressure is preventing the lifting of price caps on Russian oil.
The European Commission has acknowledged the potential to increase the price cap on Russian oil, citing the conflict surrounding Iran. The current cap is $44.1 per barrel, calculated on a 6-month average minus 15%.
An Irish economic analyst believes the EU's discussion on freezing Russian oil price caps indicates the collapse of Western sanctions. Meanwhile, leaked remarks suggest Zelensky promised Ukrainian colleagues Republican defeat in US elections, and he also stated the US hasn't responded to his request for air defense ammunition.
Richard Palmer, 76, was sent into a panic by a ScottishPower bill for over £8,400, forcing him to use half his savings. The energy company admitted a miscalculation due to an incorrect meter reading from 2022. ScottishPower has since refunded Palmer £9,000 and offered a £1,000 goodwill payment.
The EU is considering a temporary freeze on its Russian oil price cap, currently at $44.10/barrel, due to soaring energy prices linked to the US-Iran conflict. The move, part of the 21st sanctions package, aims to address market distortions and global economic shock, with options including suspending automatic increases or reverting to the $60 cap.
The UK's energy price cap will increase by 13% to £1,862/year from July to September, driven by soaring global energy prices amid the war in Iran, affecting average households with a £221 annual rise.
Household energy prices in the UK will increase by 13% from July due to soaring wholesale costs caused by the US-Israel war with Iran, affecting 33 million households with an average annual bill rise of £221 to £1,862.
Millions in Great Britain face rising energy bills as costs are forecast to increase by nearly 13% from summer. Ministers are urged to provide targeted support, with campaigners expressing disappointment over the lack of immediate action on domestic energy costs.
XRP Ledger added 4,300 new wallets in 24 hours, the fourth-largest growth spike of 2026. Despite positive network activity and ETF inflows, XRP price faces resistance at $1.40-$1.55, suggesting a prolonged consolidation.
South Korea has frozen fuel price ceilings for the fourth consecutive time, extending them for two weeks due to stable oil supply and moderating global crude prices. The government aims to ease inflationary pressure and financial burdens on citizens.
Marks & Spencer CEO Stuart Machin slammed a government proposal for voluntary food price caps as 'preposterous', urging tax and regulatory relief instead. He cited increased costs from new levies and global conflict impacting M&S's profits, which fell nearly 24% last year due to a cyber-attack.
UK inflation dropped to 2.8% in April, down from 3.3% in March, driven by a lower household energy price cap. While welcome, the slowdown may be temporary as fuel costs rise due to the Middle East conflict.
The UK government has distanced itself from reported plans to introduce voluntary price caps on essential supermarket products after supermarkets reacted with anger. Treasury minister Dan Tomlinson denied the government was pursuing price caps, while retailers and the BRC opposed the idea, warning it would deter investment and amount to illegal collusion.
The UK government is reportedly urging supermarkets to voluntarily limit price rises on key groceries in exchange for eased regulations. Retail industry sources suggest the plan, which the British Retail Consortium calls "1970s style price controls" and warns would force retailers to sell at a loss, aims to help families with costs.
Household energy bills in Great Britain are forecast to rise by over £200 annually from July, reaching nearly £1,900, due to increased wholesale energy prices linked to the Iran war disrupting Gulf supplies. Experts warn of continued high costs and urge a shift to renewables.
SNP leader John Swinney defended his plan to cap food prices, stating it's a response to the cost of living crisis, not a bid to provoke the UK government. He aims to ensure affordable, nutritious diets for struggling Scots.
UK households face an estimated £200 annual increase in energy bills, reaching nearly £1,900 from July, due to rising wholesale prices linked to geopolitical events. Experts suggest targeted support and a shift to renewables for long-term stability.
Australia has indefinitely deferred planned price caps for home care services, citing concerns about volatile costs linked to the Iran war. New financial protections, including refund powers for overcharging and public price comparisons, have been introduced.
Over 96% of South Korea's gas stations have maintained gasoline prices unchanged under the fuel price cap system, with domestic prices rising 19% for gasoline and 26% for diesel since late February, compared to sharper increases in other major economies.
SEJONG, May 11 (Yonhap) -- Finance Minister Koo Yun-cheol said Monday the tempor...
SEJONG, May 11 (Yonhap) -- Finance Minister Koo Yun-cheol said Monday the tempor...
SEOUL, May 7 (Yonhap) -- The government froze the price ceilings on fuel product...
TotalEnergies CEO Patrick Pouyanné warned that the company may end its fuel price cap in France if "superprofits" are taxed, citing refinery losses and the cost of maintaining the cap.
Jakarta’s move to press on with importing 150 million barrels of Russian oil despite latest EU sanctions against an Indonesian port underscores a growing divide between Western efforts to isolate Moscow and Asia’s push for energy security. On Thursday, the European Commission announced its 20th package of sanctions against Russia, which includes Indonesia’s Karimun Oil Terminal for its “connections with the shadow fleet and circumvention of the oil price cap”. The sanction on Karimun, located in...
