EU Investigates after 3 Countries Ban Ukraine Grain Imports

Commercial vessels including vessels which are part of Black Sea grain deal wait to pass the Bosphorus strait off the shores of Yenikapi during a misty morning in Istanbul, Türkiye, October 31, 2022. (Reuters)
Commercial vessels including vessels which are part of Black Sea grain deal wait to pass the Bosphorus strait off the shores of Yenikapi during a misty morning in Istanbul, Türkiye, October 31, 2022. (Reuters)
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EU Investigates after 3 Countries Ban Ukraine Grain Imports

Commercial vessels including vessels which are part of Black Sea grain deal wait to pass the Bosphorus strait off the shores of Yenikapi during a misty morning in Istanbul, Türkiye, October 31, 2022. (Reuters)
Commercial vessels including vessels which are part of Black Sea grain deal wait to pass the Bosphorus strait off the shores of Yenikapi during a misty morning in Istanbul, Türkiye, October 31, 2022. (Reuters)

Slovakia became the third European Union country to ban food imports from Ukraine on Monday, deepening the challenge for the bloc as it works to help Ukraine transport its grain to world markets.

Slovakia followed Poland and Hungary, both of which announced bans Saturday on Ukrainian food imports through June 30. They did so in response to rising anger from farmers who say that a glut of grain in their countries is causing them economic hardship.

The EU’s executive branch, the European Commission, manages trade on behalf of the 27 member countries and objects to them taking unilateral or uncoordinated measures.

At a briefing in Brussels, two spokespeople stressed gratitude to Poland and other Central European countries for supporting Ukraine, but said a solution must be found that respects the EU legal framework.

"We are dealing with a war, right? And this war has consequences, obviously, on farmers and more generally, the population in Ukraine and the European Union and its member states," said Eric Mamer, chief spokesperson.

He acknowledged that Poland and other countries "have been doing their utmost in order to help Ukraine," adding: "So this is not about sanctioning. This is about finding solutions based on EU law in the interests at the same time of the Ukrainians and of the EU."

Five EU countries that neighbor Ukraine have asked the EU to treat the matter of Ukrainian food with urgency. Poland, Bulgaria, the Czech Republic, Hungary and Slovakia argue that they can’t allow their own farmers to bear the cost of disruption that Ukrainian grain and other agriculture products are causing to their markets.

"The Hungarian government will always stand by Hungarian farmers and will protect Hungarian agriculture," the agriculture minister, Istvan Nagy, said. He said the surge in Ukrainian products on European markets had made it "impossible" for Hungarian farmers to remain competitive.

Bulgaria is reportedly mulling a similar ban. Meanwhile, a delegation of Ukrainian officials visited Warsaw on Monday for government consultations on the issue.

Nagy also said that low production costs in Ukraine, owing to practices being used that are not permitted in EU countries, had allowed Ukraine to export large quantities of poultry, eggs and honey to the European market, driving costs down to unsustainable levels.

The Slovak Agriculture Ministry announced last week that tests of 1,500 tons of grain from Ukraine in one mill in Slovakia revealed it contained a pesticide banned in the EU. As a result, the Slovak authorities decided to test all Ukrainian grain in the country and temporarily banned its processing.

Ukraine and Russia are both major global suppliers of wheat, barley, sunflower oil and other affordable food products that developing nations depend on. The war upended those supplies to Africa, the Middle East and parts of Asia where people were already going hungry and helped push millions more people into poverty or food insecurity.

After Russia's full-scale invasion of Ukraine, it became too dangerous for ships to sail in the Black Sea, disrupting the flow of large ships carrying food to distant markets. Shipments resumed under a deal brokered by the United Nations and Turkey.

The EU reacted to the crisis by lifting tariffs and other trade duties on Ukraine to help keep its economy afloat. That helped to divert Ukraine’s grain flows destined for Africa and the Middle East through Europe — but much of this food has instead remained in the bordering countries, creating a glut that has caused high losses for local farmers.

The EU measures expire in June, but the EU is expected to renew them.

Ukraine's EU neighbors are, with the exception of Hungary, allies of Ukraine who favor their neighbor’s future membership in the EU.

Yet already the EU’s decision to banish tariffs for Ukrainian goods as a result of Russia’s invasion of its neighbor underlines the challenges that would come with integrating a huge food producer with the rest of the bloc.

Their bans come as Russia threatens to pull out of the Black Sea deal. Moscow is complaining that a separate agreement to facilitate exports of Russian food and fertilizers amid Western sanctions hasn’t worked.

Global food commodity prices surged to record levels after the invasion of Ukraine and have been falling steadily since, but food is still expensive for people in many places because of factors like droughts, trade restrictions and the high cost of buying imported food priced in dollars as some emerging economies’ currencies weaken.



Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
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Oil Prices Extend Gains on Concerns of Potential US-Iran Conflict

FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo
FILE PHOTO: The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, US, June 12, 2018. REUTERS/Jonathan Bachman/File Photo

Oil prices rose on Thursday as the US and Iran attempted to ease a standoff in talks over Tehran's nuclear program while both sides heightened military activity in the key oil-producing region.

Brent futures climbed 23 cents, or 0.3% to $70.58 a barrel by 0735 GMT, while US West Texas Intermediate (WTI) crude gained 25 cents, or 0.4%, to trade at $65.44 a barrel.

Both benchmarks settled more than 4% higher on Wednesday, posting their highest settlements since January 30, as traders priced in the risk of supply disruptions in the event of ‌a conflict.

"Oil prices are ‌rallying as the market becomes increasingly concerned over the potential ‌for ⁠imminent US action ⁠against Iran," said ING analysts in a Thursday note.

Iranian state media reported the country had shut down the Strait of Hormuz for a few hours on Tuesday, without making clear whether the waterway had fully reopened. About 20% ⁠of the world's oil supply passes through the waterway.

"Tensions between Washington ‌and Tehran remain high, but the prevailing view ‌is that full-scale armed conflict is unlikely, prompting a wait-and-see approach," said Hiroyuki Kikukawa, chief strategist of ‌Nissan Securities Investment, a unit of Nissan Securities.

"US President Donald Trump does not ‌want a sharp rise in crude prices, and even if military action occurs, it would likely be limited to short-term air strikes," Kikukawa added.

A degree of progress was made during Iran talks in Geneva this week but distance remained on some issues, the White House said on Wednesday, ‌adding that it expected Tehran to come back with more details in a couple of weeks.

Iran issued a notice to ⁠airmen (NOTAM) that ⁠it plans rocket launches in areas across its south on Thursday from 0330 GMT to 1330 GMT, according to the US Federal Aviation Administration website.

At the same time, the US has deployed warships near Iran, with US Vice President JD Vance saying Washington was weighing whether to continue diplomatic engagement with Tehran or pursue "another option".

Meanwhile, two days of peace talks in Geneva between Ukraine and Russia ended on Wednesday without a breakthrough, with Ukrainian President Volodymyr Zelenskiy accusing Moscow of stalling US-mediated efforts to end the four-year-old war.

US crude and gasoline and distillate inventories fell last week, market sources said, citing American Petroleum Institute figures on Wednesday, contrary to expectations in a Reuters poll that crude stocks would rise by 2.1 million barrels in the week to February 13.

Official US oil inventory reports from the Energy Information Administration are due on Thursday.


Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
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Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 

Saudi Arabia’s Minister of Tourism, Ahmed Al-Khateeb, has toured hospitality facilities and visitor services in Madinah as part of the “Spirit of Ramadan” inspection tour, which also included Jeddah and Makkah.

New data show visitor numbers exceeded 21 million over the past year, a 12 percent increase from 2024, while total tourism spending reached SAR 52 billion (about $13.9 billion), up 22 percent.

The visit focused on assessing the sector’s readiness for the Ramadan season, evaluating service quality, and supporting ongoing and upcoming tourism projects.

Madinah posted strong tourism performance in 2025, driven by higher visitor inflows and expanded hospitality capacity, reinforcing its position as a leading religious destination within Saudi Arabia’s tourism landscape.

Demand growth has been matched by a sharp rise in supply. Licensed hospitality facilities increased to 610, up 35 percent, while the number of licensed rooms surpassed 76,000, a 24 percent gain, strengthening the city’s ability to accommodate during peak seasons such as Ramadan and Hajj.

Travel and tourism offices also grew to more than 240, reflecting a 29 percent expansion in supporting services.

Al-Khateeb said the entry of international hospitality brands and new projects over the past five years underscores both sectoral growth and rising investor confidence in the Kingdom’s tourism ecosystem.

“The landscape today is different. The sector is growing steadily, supported by a system that empowers investors and facilitates their journey, with a promising future ahead,” he said.

To expand hotel capacity, the minister inaugurated the Radisson Hotel Madinah, a project worth more than SAR 39 million (around $10 million) and financed by the Tourism Development Fund.

The 2025 performance signals a shift from traditional seasonal growth toward more sustainable expansion built on diversified offerings, improved service quality, and a stronger contribution to the local economy.

 

 

 

 

 

 


Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
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Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File

Plane maker Airbus aims to deliver a record number of commercial aircraft this year, the company said Thursday, capitalizing on "strong demand" and a jump in profit in 2025.

"2025 was a landmark year, characterized by very strong demand for our products and services across all businesses," CEO Guillaume Faury said in a press release announcing annual results.

The European manufacturer said it received 1,000 orders for commercial planes in 2025, with net orders of 889 after taking cancellations into account, and 793 delivered.

Last year, its overall profit jumped 23 percent to 5.2 billion euros ($6.1 billion).

The company said it is targeting "around 870 commercial aircraft deliveries" this year.

"As the basis for its 2026 guidance, the Company assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, its internal operations, and its ability to deliver products and services," it said in its outlook.

Both Airbus and its rival Boeing have struggled to return to pre-pandemic production levels after their entire network of suppliers was disrupted, even as airlines are eager to modernize their fleets with more fuel-efficient aircraft and expand to meet an expected increase in passenger numbers over the coming decades.