World

The Strait of Hormuz is a route transporting 20% of global oil and LNG. Photo: BOE Report

The reason for the US blockade of Hormuz, which is currently being blockaded by Iran

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President Donald Trump unexpectedly announced the blockade of the Strait of Hormuz - although Iran has tightened it and the US itself wants this route to be reopened.

East-West crude oil pipeline (East - West crude oil pipeline). Photo: US Energy Information Administration

Saudi Arabia's key oil pipeline 100% restored

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Saudi Arabia has fully restored the capacity of the East-West oil pipeline to about 7 million barrels/day.

Oil prices exceeded the 100 USD/barrel mark on the morning of April 12 when the US blockaded the Strait of Hormuz. Photo: Xinhua

Oil prices rise above $100 mark as US blockades Hormuz Strait

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Oil prices surged above $100/barrel as President Donald Trump announced that the US would blockade the Strait of Hormuz from April 13.

Russian oil tanker Anatoly Kolodkin in Matanzas Bay, Cuba, March 2026. Photo: TASS

Russia operates factory in Cuba, activating billion-dollar capital flow

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The fact that Russian businesses are allowed to directly manage production facilities in Cuba marks a major turning point in Russia-Cuba economic cooperation.

Hungarian Prime Minister Viktor Orban and his wife vote in Budapest on April 12, 2026. Photo: Xinhua

Hungarian Prime Minister Viktor Orban loses election after 16 years in power

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Hungarian Prime Minister Viktor Orban admitted a heavy defeat in the landmark election on April 12, ending 16 years in power.