Russian Oil Grab in Libya Fuels U.S.-Kremlin Tensions | Weekly News Update

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Russian Oil Grab in Libya Fuels U.S.-Kremlin Tensions in Mideast

Since June, armed fighters from the Wagner Group, a Russian firm with ties to the Russian government, have moved in to secure Libya’s largest oil field and its most important oil-exporting port, Es Sider. The advance has helped Libyan warlord Khalifa Haftar maintain a blockade of the country’s petroleum exports in defiance of U.S. pressure to restart them, according to Libyan and Western officials.

Moscow’s moves show how Libya has become a key front in a struggle between the U.S. and Russia for influence in the Middle East and access to strategic assets. The two nations have also locked horns in Syria, where Russian and American troops patrolling near oil fields in eastern Deir Ezzor province have engaged in roadside confrontations.

The recent Russian oil grab in Libya triggered a stern reaction by the U.S. The Treasury Department cited Russian involvement in Libya in a new round of sanctions applied in July to a Russian businessman with ties to President Vladimir Putin. The U.S. is also seeking to counter the Kremlin’s influence by threatening sanctions against their local Libyan ally, Mr. Haftar.

 

Freight volumes hold, albeit in an upheaval, as carriers and shippers enter contract season

Despite high unemployment, lingering holes in the economy, and spiking coronavirus cases, freight volumes are mostly holding steady, analysts said this week, propped up in large part by persistent consumer spending and retail.

After being jolted back to life in late May by lifted shutdown orders and the onset of the usual season spring freight season, “volumes peaked higher than we expected, and they haven’t come back down as fast or to the level we would have expected,” said Ken Adamo, chief of analytics at DAT Solutions.

 

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Businesses such as health-care providers and restaurants—which closed during pandemic lockdowns—have recalled millions of laid-off workers. Job growth has also been boosted by increased demand in a handful of industries such as logistics, financial services, and retail, including at furniture stores.

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This weekly publication is designed to highlight relevant industry news to provide professionals in the transportation, supply chain, and energy sectors with up-to-date information in a rapidly changing marketplace. This update is purely a compilation of industry news and as such, does not necessarily reflect the opinion of Breakthrough. We do not warrant or guarantee accuracy or completeness of information. For additional information, please contact us at info@breakthroughfuel.com.

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