G7

The United States and other G7 powers will hold crisis talks on Oct. 11 on Russia's recent bombing blitz across Ukraine, with Britain's Liz Truss expected to insist they "must not waver one iota" in their support for Kiev.

Türkiye is holding talks with Oman for natural gas trade, Energy and Natural Resources Minister Fatih Dönmez has said.
The minister recalled he engaged in diplomatic efforts for energy last month, visiting several countries amid the sharp increase in global energy prices.

Financial markets have been rattled by the shutdown of Russia's Nord Stream 1 gas pipeline, as energy pressure on European economies intensifies as winter approaches. The euro fell to a two-year low this morning in early trading on Monday after Russian energy company Gazprom extended the shutdown of its gas pipeline to Germany on Friday night.

Capping the price of Russian oil, an approach G7 members said Friday they want to pursue "urgently," would be an unprecedented move and one which some analysts say could backfire.        

EU Economy Commissioner Paolo Gentiloni has said that the European Union was "well prepared" in the event of a total halt in Russian gas deliveries, thanks to storage capacity and energy-saving measures.     

Political uncertainty and growing economic woes, including spiralling inflation and the threat of a recession, are weighing heavily on the British pound, against both the U.S. dollar and the also struggling euro.    

The war in Ukraine goes painfully on. After 4 months, the Russians show slow gains and have taken much of the Donbas, E Ukraine. In fact, if we count Crimea and the land along the south coast as well, Russia has grabbed almost 20% of Ukraine's land, and most of it is the most valuable, including where the wheat is grown.

The European Union today put a tighter focus on energy during the Czech presidency of the EU Council, given Russia's war in Ukraine. "We must prepare for a further disruption of gas supplies, even a complete shutdown of supplies from Russia," European Commission President Ursula von der Leyen told the European Parliament.

"Moscow and Kyiv are just days away from finalizing an agreement that will allow millions of tons of Ukrainian grain to pass through the Black Sea", Turkish President Recep Tayyip Erdogan said.

Mitsui and Mitsubishi are shareholders in the Sakhalin-2 liquefied natural gas (LPG) project.
Shares of Mitsui fell by 5.7 percent and of Mitsubishi by 5.4 percent respectively, by the midday break in today's trading on the Tokyo Stock Exchange, reports Reuters.