International
Middle East crisis, Russian-Ukraine war may trigger gas crisis in Europe— German govt, others
Middle East crisis, Russian-Ukraine war may trigger gas crisis in Europe— German govt, others
NEW ORLEANS: The Head of Energy Policy Department, Federal Ministry for Economic Affairs and Climate Action, Germany, Stefan Rolle and the Head of Trading & Optimizing, Gasum, Jouni Liimatta, have said that the crisis in the Middle East and the Russian-Ukraine war may affect Liquefied Natural Gas (LNG) prices in Europe.
The stakeholders gave the explanation during a panel-led discussion at the 20th edition of the Americas Energy Summit.
The panel discussion was on the ‘role of LNG in providing energy security to Europe in the short and long-term.
Stefan said, “I think there are many possibilities that may be realised. For example, a drastic change in demand for energy in East Asia due to a quick recovery of the Chinese economy. Also, the disruptions of important critical infrastructure in some parts of the world not necessarily in Europe but also in other parts of the world.
“This could change the picture, and there are also difficulties which have to be faced and which we cannot foresee. So, they exist.”
Stafen said if Russian LNG had been banned in Europe, there would have been a spike in prices until equilibrium was found.
READ ALSO:
The crisis between Israel and Palestine had worsened the energy crisis in Europe which was induced by the Russian-Ukraine war.
Recall that in October last year, LNG prices spiked more than 40 per cent to $18.35 amid the Israel-Palestine war.
Liimatta said, “Unfortunately there has been a lot of war ongoing in the world in very critical places and I fear that if the Middle East crisis expands, the Russian-Ukraine war could expand as well. This could change the picture completely. So, I’m not seeing any positive surprises coming on.
“It is more pessimistic to me. If there are prices, it will be pessimistic. We are already seeing a couple of gas pipelines exploding or being damaged in Europe. Hopefully let’s say the Norwegian Continental Shelf Pipeline continues to Europe, but if something happens to those, we will have a huge crisis in Europe. Unfortunately, negative gas prices could happen.”
According to him, placing a ban on Russian LNG by European countries will take time due to challenges in individual countries.
Liimatta argued that although the Russian LNG contributes about 8 per cent of the whole gas supplies to Europe, it would take time for European countries to ban the commodity.
He said, “Realistically, even though the Russian LNG is only around 5-8 per cent of the whole gas supplies to Europe, it will take until 2025 or 2026 for it to be banned because that is when new LNG [productions will be going on into the market from US or Qatar.
“So, unfortunately, the Russian LNG will probably still come to Europe for another year or two.”
Middle East crisis, Russian-Ukraine war may trigger gas crisis in Europe— German govt, others
International
Israeli Fire Kills Three UN Peacekeepers in Southern Lebanon
Israeli Fire Kills Three UN Peacekeepers in Southern Lebanon
Three United Nations peacekeepers have been killed in southern Lebanon, with others seriously injured, as clashes between Israeli forces and Hezbollah militants intensify. The fatalities, all members of Indonesia’s UNIFIL contingent, mark one of the deadliest attacks on peacekeepers in recent years.
The first incident occurred on Sunday, March 29, when a projectile exploded near a UNIFIL position in Adchit al-Qusayr, killing one peacekeeper and seriously injuring another. Evidence suggests the projectile may have been fired from an Israeli tank, though investigations are ongoing. The following day, two more Indonesian peacekeepers were killed when a logistics convoy vehicle was destroyed by an explosion of unknown origin near Bani Hayyan, leaving additional personnel injured.
UN Secretary-General António Guterres condemned the killings, calling them “grave violations of international humanitarian law” and emphasizing that “no one should ever have to die while serving the cause of peace.” He extended condolences to the families of the deceased and wished a speedy recovery to the injured.
READ ALSO:
- Iyabo Ojo Quits Mediation Between Funke Akindele, Toyin Abraham
- 2027: Badagry elders rally Tinubu to back zone’s first Lagos governor
- Nigerian Man Gets 15-Year US Prison Term for $1.5M Romance Scam
The incidents have prompted the UN Security Council to convene an emergency session to address the attacks. Several European countries, including France, the United Kingdom, and Belgium, issued a joint statement urging all parties to ensure the safety of UNIFIL personnel in accordance with international law. South Korea and other nations also condemned the attacks, highlighting the critical need to protect peacekeepers in conflict zones.
The deaths come amid escalating hostilities between Israel and Hezbollah, which have involved airstrikes, rocket fire, and ground operations along the Israel-Lebanon border. Civilians in southern Lebanon have been severely affected, with thousands displaced and casualties mounting on both sides.
The Indonesian government has called for a transparent investigation into the deaths of its personnel and stressed the importance of accountability. Meanwhile, UNIFIL continues to operate along the Blue Line, though the recent attacks underscore the growing risks faced by peacekeepers in volatile regions.
Israeli Fire Kills Three UN Peacekeepers in Southern Lebanon
International
Nigerian Man Gets 15-Year US Prison Term for $1.5M Romance Scam
Nigerian Man Gets 15-Year US Prison Term for $1.5M Romance Scam
A U.S. federal court has sentenced Nigerian national Saheed Sunday Owolabi to 15 years in prison for orchestrating an international wire fraud and money laundering scheme that defrauded victims of over $1.5 million. The sentence follows his conviction for conspiracy to commit wire fraud and conspiracy to commit money laundering, highlighting the U.S. government’s crackdown on cross-border cybercrime.
According to the U.S. Department of Justice, Owolabi was a key figure in a sophisticated online scam in which he posed as a woman to build fake romantic relationships with U.S. victims—a tactic commonly known as a romance scam. Once trust was gained, the victims were persuaded to wire money into accounts controlled by Owolabi, who then laundered the funds to Nigeria.
READ ALSO:
- Céline Dion Announces Stage Comeback After Four-Year Health Battle
- Senate Passes ₦68.32trn 2026 Budget, Increases Tinubu’s Proposal
- FG Raises Gas Price to $2.18/MMBtu, Signals Fresh Economic Pressure for Nigerians
Investigations by the Federal Bureau of Investigation (FBI) revealed that Owolabi and his co-conspirators also used victim-provided accounts to launder money from other fraudulent operations. In one case, a single victim in the Eastern District of North Carolina lost more than $120,000, with many other victims nationwide affected by the scheme.
U.S. Attorney Ellis Boyle described Owolabi as a “cheat” and said the sentence underscores the FBI’s commitment to identifying, disrupting, and dismantling international fraud and money-laundering networks targeting American citizens.
The court proceedings, led by Assistant U.S. Attorney Brad DeVoe, highlighted Owolabi’s role as an organiser in the fraud, using complex money-laundering methods to conceal illicit proceeds. The case is part of broader U.S. enforcement efforts against online fraud, cybercrime, and cross-border financial crimes, particularly schemes leveraging digital platforms to exploit victims.
Authorities say the sentence serves as a strong deterrent to others involved in international scams and demonstrates that sophisticated internet fraud operations will be pursued rigorously, regardless of the perpetrators’ location.
Nigerian Man Gets 15-Year US Prison Term for $1.5M Romance Scam
International
US Warns Iran Against Closing Strait of Hormuz, Cites “Severe Consequences”
US Warns Iran Against Closing Strait of Hormuz, Cites “Severe Consequences”
Washington, D.C. — The United States has issued a strong warning to Iran over any potential move to shut down the strategic Strait of Hormuz following ongoing military operations in the region, with Secretary of State Marco Rubio cautioning that such an action would attract “severe consequences.”
Rubio, speaking amid heightened tensions in the Middle East, stressed that the vital waterway must remain open to global shipping, describing any attempt by Iran to block access as unacceptable and destabilising.
“The Strait of Hormuz is an international waterway that must remain open,” Rubio said. “If Iran chooses to close it after military operations conclude, it will face serious consequences. The United States will ensure that freedom of navigation is maintained.”
The Strait of Hormuz is one of the world’s most critical oil transit routes, serving as a gateway for nearly a fifth of global petroleum supplies. Any disruption to its operations could send shockwaves through international energy markets and significantly impact global trade.
Tensions have escalated in recent days following military developments involving the United States and its regional allies, alongside growing concerns over Iran’s response. Analysts say Tehran has previously hinted at the possibility of leveraging the strait as a strategic pressure point during periods of conflict.
READ ALSO:
- China Thanks ‘Relevant Parties’ as Ships Cross Strait of Hormuz Amid Tensions
- Osimhen Among Highest-Paid African Footballers in 2026 — See Full List
- Lagos NURTW Chairman Sego Distributes Exotic Cars, Luxury Items to Cabinet Members (Video)
Security experts warn that a closure of the narrow waterway could trigger a broader regional crisis, potentially drawing in global powers and leading to military confrontations at sea. The U.S. Navy, which maintains a strong presence in the region, has historically conducted operations to safeguard commercial shipping routes.
While Iranian officials have not formally announced any decision to block the strait, past rhetoric from Tehran has included threats to disrupt maritime traffic if its national interests are threatened.
In response, U.S. officials reiterated their commitment to maintaining stability and ensuring the uninterrupted flow of commerce. Rubio emphasised that any move to interfere with international shipping lanes would not only affect the United States but also have far-reaching consequences for the global economy.
Observers note that the warning underscores the strategic importance of the Strait of Hormuz and highlights the fragile security situation in the Gulf region. With tensions still simmering, diplomatic efforts are expected to continue alongside military preparedness.
As the situation unfolds, the international community remains watchful, with many nations urging restraint to avoid further escalation in an already volatile region.
US Warns Iran Against Closing Strait of Hormuz, Cites “Severe Consequences”
-
Entertainment2 days agoFunke Akindele, Toyin Abraham Spark Reactions Over Alleged Snub at Iyabo Ojo’s Premiere
-
metro3 days agoJos Attack: Plateau Govt Declares 48-Hour Curfew After Deadly Assault
-
Education2 days agoWAEC Releases 2026 WASSCE Timetable for School Candidates
-
Auto1 day agoLagos NURTW Chairman Sego Distributes Exotic Cars, Luxury Items to Cabinet Members (Video)
-
metro2 days agoCars Torched as South Africans Protest Alleged Nigerian ‘Igbo King’ Coronation
-
News2 days agoUK Raises Visa Costs, Tightens Immigration Rules From April 8
-
Auto3 days agoMotoring World marks 30 years, set to rally industry leaders in Lagos
-
metro3 days agoDebate as OPM Pastor Marries Autistic Man to Older Woman


