Novak said negotiations are underway between the Russian and U.S. governments on a diesel supply agreement with President Trump.

IRGC navy said the U.S. has mobilized all resources to try to move four or five oil tankers through the strait, behaving like a small‑time smuggler.

Private equity firms are finding exits harder amid volatile markets but can still raise cash by increasing leverage at portfolio companies. Moody's estimates PE-owned firms in Europe, the Middle East and Africa have about €41bn (roughly $46bn) of additional borrowing capacity before leverage would likely trigger ratings downgrades. Moody's says that headroom should keep debt-financed dividend activity elevated until M&A deal flow recovers. Rising rates, geopolitical tensions and buyer-seller valuation gaps are slowing exits and pushing distributions well below historical norms; buyout firms are using portfolio-level debt and continuation funds to return capital.