Greece is seeking Russian oil supplies to help stabilize its energy costs amid global market disruptions.

The entities involved

• Greece →

  country in Southeast Europe

  • International aid is being deployed as contributing aircraft assist in efforts to contain wildfires testing regional resources in Italy, Greece, and Europe.10:32
  • Greece placed orders for firefighting aircraft as global demand for such planes is soaring.10:32
• Hormuz →

  city in Hormozgan Province, Iran

  • Russian actions are threatening agricultural exports, potentially impacting global supply chains via Hormuz.12:30
  • Hezbollah launched rockets into northern Israel, amid ongoing IDF operations and opposition to US-Iran peace talks.08:41

Related events

• Closure of Strait of Hormuz pressures consumption while military operations disrupt oil production, according to IEA reports.Aug 12
• Hormuz closure threats are driving up oil prices, prompting the IMF to base its assumptions on the Brent benchmark.Tue 06:38
• The closure of the Strait of Hormuz due to conflict is causing supply shocks, but some entities are demonstrating resilience.Jun 7
• The IMF is analyzing the Greek economy under Article IV of its charter, noting that geopolitical instability and wars are introducing energy price shocks across Europe.Jun 7
• The government has ended the excise duty discount on fuel, while negotiations are underway to unblock the Strait of Hormuz.Jul 7