The Economic Partnership Agreement between the UAE and the Eurasian Economic Union entered into force on 6 October 2026. The pact grants preferential tariff access across over 86 percent of tariff lines and targets nearly $50 billion in annual trade by 2032.
Chinese fuel exporters have cancelled planned October shipments of diesel and gasoline to safeguard domestic inventories. The export halts follow reduced refined product flows from the Persian Gulf caused by refinery outages and shipping constraints. Supply deficits along Asia-Gulf trade routes were further compounded by an extension of Russian diesel export restrictions.
Japan has introduced additional sanctions targeting Russia's shadow fleet of oil-transporting vessels, according to the Foreign Ministry. The measures restrict maritime services to 35 ships and impose export bans on four entities located in the UAE and Turkey. Restrictions also apply to 33 Russian-linked entities, nine individuals, and 102 export items.
Indian refiners anticipate tighter supplies of Russian crude in October and November 2026 as China steps up purchases and Russian export availability contracts. According to analytics firm Kpler, Russian crude arrivals in India are projected to decline to approximately 1.75 million barrels per day in September. As a result, Indian buyers are turning to alternative supplies, including UAE Murban crude, Iraqi Basrah, and Angolan barrels.
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