International News 04 May 2026
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China Rejects U.S. Sanctions on Iranian Oil Buyers, Raising New Risks for Global Energy Markets
Tensions in trade and geopolitics have escalated again after China declared it would not comply with U.S. sanctions targeting five Chinese companies accused of purchasing Iranian oil. Beijing’s stance marks an open resistance to United States efforts to curb energy exports from Iran. According to a Bloomberg report (May 3), China’s Ministry of Commerce stated that the U.S. sanctions would neither be recognized nor enforced. Beijing argued that such measures violate international law and disrupt normal trade activities between Chinese firms and third-party countries. This development underscores how U.S.-China rivalry is no longer limited to tariffs and technology, but is increasingly extending into global energy markets. China remains one of the key buyers of Iranian oil, particularly through independent “teapot” refineries that take advantage of discounted prices amid Western sanctions.
New Berkshire Hathaway CEO Seeks to Reassure Investors as Cash Pile Hits Rp6,577 Trillion
Berkshire Hathaway, the U.S.-based investment giant, reported a record-breaking cash position. As of the end of March 2026, the company held US$380.2 billion in cash (approximately Rp6,577 trillion at an exchange rate of Rp17,300), drawing major attention at its annual shareholder meeting. CEO Greg Abel emphasized his commitment to managing this massive cash reserve with discipline and prudence amid the leadership transition following Warren Buffett. “We don’t have to invest all the money just for the sake of being active,” Abel said, as reported by Reuters. In his debut as CEO at the annual meeting in Omaha, Abel sought to reassure investors that he can uphold Buffett’s long-term investment philosophy without becoming bogged down by bureaucracy. He also confirmed that Berkshire will not be broken up and will remain focused on strengthening its existing portfolio of businesses.
OPEC+ Set to Approve Third Oil Production Quota Increase Since the Closure of the Strait of Hormuz
OPEC+ is preparing to approve a modest increase in oil output, but much of this rise is likely to remain largely symbolic as long as the ongoing conflict between the U.S. and Iran continues to disrupt Gulf oil supplies. According to Reuters sources on Sunday (May 3, 2026), seven OPEC+ members have in principle agreed to set a production target of around 188,000 barrels per day for June, marking the third consecutive monthly increase. This move is intended to signal the group’s readiness to boost supply once the conflict subsides, while also proceeding with planned output hikes despite the recent departure of the United Arab Emirates from the alliance.