Australia to underwrite fuel imports under new security powers
Australia's government announced new fuel security powers under Prime Minister Anthony Albanese. It will underwrite financial risks of importing petrol, diesel, and fertiliser affected by Middle East conflict. The measures aim to guarantee additional supplies reach the country.
Albanese announces forthcoming legislation to guarantee private sector purchases of fuel and fertiliserThe Australian government will take on the financial risk of importing essential products affected by the war in the Middle East to get additional supplies of petrol, diesel, and fertiliser into the country.The prime minister, Anthony Albanese, announced the new fuel security powers on Saturday after a month of soaring diesel and petrol prices and widespread shortages at service stations, particularly in regional Australia. Continue reading...