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Market news: Russian oil drilling activity is expected to fall to its lowest level in three years in 2025.Slovakian refinery SLOVNAFT said it has ordered seven tankers to transport oil from Saudi Arabia, Norway, Kazakhstan and Libya to Croatian ports during the Friendship Pipeline shutdown.On February 18, Iranian President Pezzichyan met with visiting Russian Energy Minister Tsering Zivilev. Pezzichyan stated that Iran is determined to swiftly and accurately implement the comprehensive strategic cooperation plan between the two countries and to propel bilateral cooperation to a new level. He added that countries in the region should expand their relations so that regional affairs can be resolved without the intervention of external powers. Zivilev stated that no one can undermine the strategic relationship between Russia and Iran.A Reform Party economic affairs spokesperson said: "We will develop strict fiscal rules and take market views into account."February 18 – The European Commission announced on February 18th that it has adopted a comprehensive strategy to increase support for the EUs eastern regions bordering Russia, Belarus, and Ukraine. The announcement reaffirmed the Commissions continued commitment to supporting these regions. It outlines a series of actions aimed at helping the affected areas address challenges. To ensure progress, the European Commission will launch an annual high-level political dialogue to promote discussions on EU actions and their impact on the resilience and development of the EUs eastern regions bordering Russia, Belarus, and Ukraine. The first dialogue will be held on February 26th, at which time financial institutions will sign a declaration launching the "Eastern Investment Mechanism."

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