Seychelles strengthens economic ties with Russia, President Herminie meets Vladimir Putin
via Le Mauricien1 min read
Seychelles is enhancing its economic relationship with Russia, with Seychellois President Patrick Herminie inviting a Russian military contingent to the 50th independence anniversary celebrations in June, marking half a century of diplomatic relations. President Herminie met with Russian President Vladimir Putin in Moscow at the Grand Kremlin Palace last Wednesday. This meeting occurs as Russia maintains close ties with key allies and some African leaders amidst Western sanctions and an International Criminal Court arrest warrant against President Putin. The Republic of Seychelles is looking to Russia to strengthen its commercial links. The discussions between President Herminie and President Putin covered several areas of cooperation, including fisheries, food security, agriculture, tourism, trade, transport, sports, and energy. A particular focus was placed on the fisheries sector, which is a cornerstone of the Seychellois economy, and on reducing import dependence through local agricultural development. Tourism was also a central topic, with Russia being a significant market for Seychelles. Negotiations are underway with Aeroflot to establish regular direct flights between the two countries. The talks also addressed setting up a maritime link to facilitate trade in perishable goods and strengthening sports cooperation, including athlete and coach training. In the energy sector, Seychelles aims to collaborate with Russia to develop renewable energy and decrease reliance on
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A leak from an Indian Oil pipeline at the port's oil terminal on Tuesday, around 2:30 PM, led to a spill of approximately 200 liters of heavy fuel oil. The Mauritius Ports Authority MPA immediately activated its emergency response, including the Port Louis Harbour Oil Spill Response Plan, to contain the spread. Absorbent booms were deployed around the affected area to limit the oil slick's progression, and a clamp was placed on the faulty pipeline to stop the leak. Environmental Police teams and Ministry officials were dispatched to monitor the situation and assess the environmental impact. An investigation has been launched to determine the cause of the leak and assign responsibility. The Ministry of Environment stated that all necessary measures are being taken to manage the incident and minimize its consequences on the marine ecosystem.
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Must ReadThe global oil market experienced its largest disruption in decades following the war in the Middle East, yet crude prices settled between $90 and $100 per barrel, lower than many anticipated. This was due to a combination of factors that cushioned the initial blow, though much of this capacity has now been utilized. The war effectively closed the Strait of Hormuz, cutting off approximately 20 million barrels per day of crude oil and refined products, which is a fifth of global consumption. Despite some redirection efforts by Gulf producers, only a fraction of lost volumes was offset. Refined product output, particularly diesel and jet fuel, also dropped significantly. By the end of May, over 1.1 billion barrels of crude had not reached the market, exceeding shortfalls seen in previous oil shocks. The global system absorbed this disruption through three main shock absorbers: demand compression, especially in Asia, as higher prices reduced consumption and economies shifted to alternatives; increased production outside the Gulf, notably from the United States, Venezuela, Guyana, and Russia; and the drawdown of global inventories, including commercial stocks in China and strategic reserves. While a US-Iran framework agreement to reopen the strait initially lowered prices, uncertainties remain regarding the full restoration of navigation and the time it will take for shipping and insurance confidence to return. Industry estimates suggest it will take two to three months for signi