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Hungary election: PM Viktor Orban concedes defeat to opposition, ending 16 years in power. He has congratulated opposition leader Peter Magyar, whose party is on track to win a 2/3 majority.
After Trump's announcement that he will cut off all trade with Spain for refusing to support Israel, Spanish Prime Minister Pedro Sanchez visits China for the fourth time in four years.
reuters.com/…/spanish-pm-sanchez-visit-china-apri…
“China is willing to work with Spain to take Prime Minister Sanchez’s visit to China as an opportunity to further deepen strategic mutual trust, intensify exchanges and cooperation, strengthen multilateral coordination, and push bilateral relations to new heights,” said the spokesperson, Mao Ning.
Universe expected to decay in 10⁷⁸ years, much sooner than previously thought
Mexico is moving toward universal healthcare by 2027—here’s what it means and why it matters beyond its borders
China preparing delivery of new air defense systems to Iran, report says
As the Iran war intensifies, South Korea renewables shift accelerates
But if the crisis continues, or other regions are impacted, that could change. Japan, Taiwan, and Korea lack any meaningful petroleum or natural gas resources and are reliant almost entirely on imports. For gas, that means LNG, and of the three countries, Taiwan is the most dependent on LNG via the Strait of Hormuz. 30% of their LNG comes from Qatar and the United Arab Emirates, compared to 6% for Korea and 14% for Japan.
According to Japan NRG, a Tokyo-based energy consultancy, “the economy is still exposed to higher import prices, shipping disruptions, and financial market spillovers.” Moreover, “rising fuel costs could feed into electricity tariffs, manufacturing costs, and inflation.”
Warehouse Luigi: “Should’ve Paid Us Enough To Live”
Breaking Points | Oil Execs PANIC After Iran Takes Control Of Hormuz Strait
Spain to reopen embassy in Tehran