Prime Minister Anthony Albanese announced Saturday that Australia will underwrite private companies' purchases of fuel cargoes from overseas through Export Finance Australia, mitigating financial risk as Middle East conflict drives volatile international prices and supply uncertainty. The government stopped short of implementing mandatory rationing, instead urging consumers to exercise restraint while legislation is introduced Monday to formalize the new fuel security powers.
Otto Beta
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Prime Minister Anthony Albanese announced Saturday that Australia will underwrite private companies' purchases of fuel cargoes from overseas through Export Finance Australia, mitigating financial risk as Middle East conflict drives volatile international prices and supply uncertainty. The government stopped short of implementing mandatory rationing, instead urging consumers to exercise restraint while legislation is introduced Monday to formalize the new fuel security powers.