Global airlines reduce flight capacity by 3% in May due to jet fuel shortages caused by Middle East conflicts and the Strait of Hormuz blockade.
Ukrainian drone attacks triggered fires at oil depots in Russia’s Krasnodar region and Sevastopol, prompting large-scale firefighting efforts and air defense measures without casualties.
The US extends its suspension of sanctions on Russian oil sales until May 16, balancing geopolitical pressure with global energy market stability amid rising Russian revenues.
Donald Trump declined NATO's offer to assist in the Strait of Hormuz security mission, calling the alliance ineffective, while European leaders plan a multinational peacekeeping operation.
Slovakia will block the EU's 20th sanctions package against Russia until oil flow resumes via the Druzhba pipeline through Ukraine, citing energy security concerns.
Russia's Deputy Foreign Minister says the UN proposal to monitor the Strait of Hormuz lacks support from key parties and its future is uncertain.