Japan's Taiyo Oil Imports Russian Crude on US-Sanctioned Tanker
The Japanese oil refiner Taiyo Oil Co. is taking delivery of a cargo of Russian crude on a tanker that's blacklisted by both the US Treasury and the European Union.
While Japan has a waiver to buy the oil in question, the delivery — the nation's first in over two years from Russia — speaks to a growing ease among buyers around the world in dealing with Moscow as the war in Ukraine rages for a fourth year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fast Company
31 minutes ago
- Fast Company
Air India crash sends Boeing's troubles back into the spotlight
The crash of a Boeing 787 passenger jet in India minutes after takeoff on Thursday is putting the spotlight back on a beleaguered manufacturer though it was not immediately clear why the plane crashed. The Air India 787 went down in the northwestern city of Ahmedabad with more than 240 people aboard shortly after takeoff, authorities said. It was the first fatal crash since the plane, also known as the Dreamliner, went into service in 2009, according to the Aviation Safety Network database. Boeing shares fell more than 4% in afternoon trading. The 787 was the first airliner to make extensive use of lithium ion batteries, which are lighter, recharge faster and can hold more energy than other types of batteries. In 2013 the 787 fleet was temporarily grounded because of overheating of its lithium-ion batteries, which in some cases sparked fires. 737 Max The Max version of Boeing's best-selling 737 airplane has been the source of persistent troubles for Boeing after two of the jets crashed. The crashes, one in Indonesia in 2018 and another in Ethiopia in 2019, killed 346. The problem stemmed from a sensor providing faulty readings that pushed the nose down, leaving pilots unable to regain control. After the second crash, Max jets were grounded worldwide until the company redesigned the system. Last month, the Justice Department reached a deal to allow Boeing to avoid criminal prosecution for allegedly misleading U.S. regulators about the Max before the two crashes. Worries about the plane flared up again after a door plug blew off a Max operated by Alaska Airlines, leading regulators to cap Boeing's production at 38 jets per month. Financial woes Boeing posted a loss of $11.8 billion in 2024, bringing its total losses since 2019 to more than $35 billion. The company's financial problems were compounded by a strike by machinists who assemble the airplanes plane at its factories in Renton and Everett, Washington, which halted production at those facilities and hampered Boeing's delivery capability. For the first three months of 2025, Boeing reported a narrower loss of $31 million compared with the previous year. CEO Kelly Ortberg said Boeing made progress on stabilizing operations during the quarter. Orders and deliveries The stepped-up government scrutiny and the workers' strike resulted in Boeing's aircraft deliveries sliding last year. Boeing said it supplied 348 jetliners in 2024, which was a third fewer than the 528 that it reported for the previous year. The company delivered less than half the number of commercial aircraft to customers than its main rival Airbus, which reported delivering 766 commercial jets in 2023. Still, Boeing's troubles haven't turned off airline customers from buying its jets. Last month the company secured big orders from two Middle Eastern customers. The deals included a $96 billion order for 787 and 777X jets from Qatar, which it said was the biggest order for 787s and wide body jets in the company's.
Bloomberg
an hour ago
- Bloomberg
Airline Stocks Slide After Israel-Iran Strikes Shut Airspace
Airline stocks declined around the world on Friday after Israel launched airstrikes across Iran, forcing several countries in the Middle East to close their airspace to commercial flights. Airlines were the worst-performing sector in Europe, with Air France-KLM, Deutsche Lufthansa AG and British Airways parent IAG SA sliding over 3%. Discount carriers Ryanair Holdings Plc, EasyJet Plc and Wizz Air Holdings Plc posted similar declines. In Asia, Japan Airlines Co. dropped 3.7%, while ANA Holdings Inc. fell 2.8%.
Washington Post
an hour ago
- Washington Post
Hong Kong rights group shuts down after years of advocating for workers
HONG KONG — A Hong Kong group that advocated for workers rights for decades announced its shutdown abruptly on Thursday, citing financial difficulties and debt issues. China Labor Bulletin planned to stop updating its website content and appeared to have deleted Facebook and Instagram social media accounts used by the nonprofit rights organization. 'The company can no longer maintain operations and has decided to dissolve and initiate the relevant procedures,' it said in a statement on an archived web page Friday. Founded in 1994, organization maintained a database tracking workers' strikes, protests, workplace accidents and other labor rights incidents in China . As dozens of civil society groups disbanded or left Hong Kong in the wake of the 2020 Beijing-imposed national security law , China Labor Bulletin continued providing valuable resources for journalists and academics in the southern Chinese city. Critics say the drastic political changes in Hong Kong indicated the decline of Western-style civil liberties that China promised to keep intact when the former British colony returned to Chinese rule in 1997. However, Beijing and Hong Kong governments insisted the law was crucial to bring stability to the city following massive anti-government protests in 2019. China Labor Bulletin's founder Han Dongfang, a former railway worker who participated in the 1989 Tiananmen Square protests, did not immediately respond to a request for comment from The Associated Press. He told the Central News Agency of Taiwan that the shutdown was his decision and he would stay in Hong Kong. Han's decision appeared sudden to many Hong Kong civil society observers. Three weeks ago, he wrote on social media platform LinkedIn about his work anniversary and his team's progress. 'Let's keep our faith up at this abnormal time and continue our important work,' he said.
