#BlackRock plans to launch two money-market funds for investors holding cash in stablecoins, a sign the asset manager sees a durable customer base in the digital-dollar #economy.

#Japanese #oil company Idemitsu has purchased a Russian crude oil run from Sakhalin as part of its efforts to diversify its import sources, the company's press service told #TASS.

#TASS has compiled the main facts on the topic. #Oil purchase from Russia

- Japan purchased a cargo of Russian oil amid the escalating situation around Iran and the closure of the Strait of Hormuz, a #TASS correspondent discovered based on an analysis of data from monitoring services.

- Japanese oil company Idemitsu confirmed the purchase of Sakhalin oil to a TASS correspondent.

- Even a small volume of oil from Russia is important for Japan amid the escalating situation around Iran and the closure of the Strait of Hormuz, a representative of the Natural Resources and Energy Agency of the Japanese Ministry of Economy, Trade, and Industry stated on May 2.

- The agency’s official also noted that imports from Sakhalin-2, where oil is produced through the production of liquefied natural gas (LNG), have been approved by the United States and do not violate sanctions.

- The purchase was made as part of efforts to diversify import sources, Idemitsu clarified.

- The company noted that the purchase decision was made at the request of the Natural Resources and Energy Agency to ensure stable supplies of petroleum products.

- In March, the Nikkei newspaper reported that Japanese oil company Idemitsu Kosan may cease ethylene production due to disruptions in raw material supplies from the Middle East due to the blockage of the Strait of Hormuz.
Tankers from Russia arrive in Japan

- The Omani-flagged tanker Voyager, which had previously delivered a cargo of Russian oil to the Japanese company Taiyo Oil refinery on Shikoku Island, arrived in Tokyo Bay, a #TASS correspondent reported on May 8.

- Several Japanese companies, including Idemitsu, have refineries there.

- Voyager, carrying Sakhalin Blend crude oil, departed from a port on Sakhalin at the end of April.
Sanctions

- Sakhalin Blend crude oil for Japan is not subject to sanctions, Idemitsu Kosan noted.

- The press service added that they are working "in cooperation with the Natural Resources and Energy Administration, observing the laws and regulations of each country, including Japan."

- Japan has banned imports of Russian oil after February 2022.

- The country later joined the "price cap" mechanism initiated by Western countries.

- The exception was certain shipments from the Sakhalin-2 project, tied to #LNG supply contracts; these were exempted from the sanctions regime.

- The last time #Japanese companies purchased Russian oil from Sakhalin was in June 2025.

Artificial intelligence isn’t all it’s cracked up to be when it comes to replacing #traders. Not yet anyway.

#Chinese creditors who have struggled to recover funds from distressed property developers on the mainland are increasingly turning to Hong Kong courts in their quest for repayment

Hawkeye 360, a provider of satellite-based signals intelligence for #US government agencies, is raising $416 million in a USIPO priced at the top of a marketed range, sources say

Proposed #UN resolution threatens Iran with sanctions if it doesn't allow freedom of navigation.

UNITED NATIONS — A proposed UN resolution threatens Iran with sanctions or other measures if it doesn’t halt attacks on ships in the Strait of #Hormuz, stop imposing “illegal tolls,” and disclose the placement of all mines to allow freedom of navigation.

The draft Security Council resolution, co-sponsored by the United States and Gulf nations and obtained Tuesday by The Associated Press, also demands that Iran “immediately participate in and enable” United Nations efforts to establish a humanitarian corridor in the strait to enable the delivery of vital aid, fertilizer and other goods.

It is the latest diplomatic effort by the U.S. and its Gulf allies after a watered-down resolution aimed at opening the strait was vetoed by China and Russia hours before Washington and Tehran announced a temporary ceasefire in early April.

U.S. Secretary of State Marco Rubio on Tuesday accused Iran of continuing “to hold the world’s economy hostage” by trying to close the strait, threatening to attack ships, laying sea mines, and attempting to charge tolls “for the world’s most important waterway.”

“The United States looks forward to this resolution being voted on in the coming days and to receiving support from Security Council members and a broad base of co-sponsors,” he said in a statement.

U.S. Ambassador Mike Waltz told reporters Monday he believes the new, narrow proposal will gain the necessary support it needs to pass the 15-member council, without triggering opposition or a veto from Iran’s allies.

The U.S. and Gulf nations proposed the new draft as the Trump administration tries to restore freedom of navigation in the strait, which carried about 20% of the world’s crude oil before the U.S. and Israel began the war on Feb. 28. A shaky ceasefire remains in effect.

The proposed resolution, which was drafted under Chapter 7 of the UN Charter and thus could be enforced militarily, threatens “effective measures that are commensurate with the gravity of the situation, including sanctions” if Iran doesn’t comply. The earlier resolution removed a Chapter 7 reference but was still vetoed.

The new draft resolution reaffirms the right of all countries to defend their vessels from attacks and provocations, and orders all other countries not to assist Iran in closing the strait or levying tolls.

The draft also “welcomes ongoing efforts to deconflict and coordinate safe and secure transit passage through the Strait of Hormuz, expresses support for ongoing efforts to seek a durable peace in the region, and encourages member states in the region to strengthen dialogue and consultations in this regard.”

Farnoush Amiri contributed to this report.

Edith M. Lederer, The Associated Press

Unidentified projectiles were fired at a tanker in the Strait of #Hormuz off the #UAE coast, the #UK Maritime Trade Operations (UKMTO) said.

"UKMTO has received a report of an incident 79 nautical miles [125.9 km] north of Fujairah, United Arab Emirates. A tanker has reported being hit by unknown projectiles," the statement says.

All crew was reported safe. No environmental impact has been reported.

#News : #China rejects #US sanctions on #refineries over #Iran oil links. #TradeNews

MT Sarv Shakti gas carrier flying the flag of the Marshall Islands with the Indian cargo on board safely traversed the Strait of Hormuz and is expected to reach India by mid-May, the ANI news agency said.

According to its sources, MT Sarv Shakti, carrying 46,313 metric tons of liquefied petroleum gas, with twenty crewmembers on board, including eighteen Indian nationals, went through the Strait of Hormuz on May 2 and is estimated to reach the port of Visakhapatnam on May 13. #TradeNews

#Oil prices reach wartime high as #Iran and U.S. tanker blockades remain. Follow for live updates here. Both Iran and the U.S. have blocked the Strait of Hormuz, a critical shipping artery that in peacetime sees about 20 per cent of worldwide crude shipments.

Gas in B.C. now costs more than C$2/L, with prices elsewhere not far behind.

U.S. wants to work with Canada on energy trade: sources

United States Trade Representative Jamieson Greer told Canadians looking for insights into the future of bilateral trade this week that “America First” is policy, not a slogan, and they should not expect a return to the way things were.

Sources who attended a roundtable with U.S. President Donald Trump’s trade czar in Washington on Wednesday told The Canadian Press that Greer was measured and pragmatic as he laid out the administration’s policy goals ahead of the coming review of the Canada-U.S.-Mexico-Agreement on trade, better known as CUSMA.

About 40 people attended the event hosted by the American Chamber of Commerce in Canada, including Conservative MPs Jamil Jivani, Michael Chong and Shuv Majumdar. Also in the room were multiple executives from oil and gas companies.

Canada’s Ambassador to the U.S. Mark Wiseman sat two seats away from Greer during the meeting. Alberta’s Washington trade representative Nathan Cooper and Manitoba’s trade representative Richard Madan were also in attendance.

Greer said the United States is looking to work with Canada on energy and critical minerals development in ways that would be mutually beneficial to both countries, the sources said.

One source said Greer cautioned that Canada should not attempt to use those resources as leverage in negotiations on the trilateral trade pact.


Canada is a major oil producer. Why are prices so high?

Canada is the fourth-largest oil producer in the world. It produced 5.13 million barrels of oil per day on average in 2024 and 5.19 million barrels per day in the first half of 2025, according to a snapshot released in December.

But if that’s the case, why are our fuel prices going up just like the rest of the world?

“Oil and gas are global commodities,” economist Moshe Lander explained during an interview with CTV News Channel.

Consider an oil exporter in Canada who sells to the domestic market and internationally, he said. Since every country in the world purchases oil, or some derivative, Canada’s local prices are influenced by whatever the highest price is elsewhere in the world.

And because oil is refined into so many different products, such as fuel for our cars, jets, plastics and more, all those prices stand to rise as well.