Australia will halve a fuel tax to help motorists experiencing soaring petrol prices due to war in the Middle East, Prime Minister Anthony Albanese said Monday. Albanese announced the step after meeting with the leaders of Australia’s states and territories on Monday, agreeing a plan to tackle fuel shortages as the war in the Middle East continues. Australia charges a sales tax of 52 cents on each litre of petrol sold at the pump, which will be halved for three months. The measure will cost the government $1.75 billion (Aus$2.55 billion), officials said. “We are making fuel cheaper today because we understand that Australians are under serious pressure,” Albanese said. Albanese’s government has sought to reassure motorists that shipments of fuel continue to arrive in Australia, and petrol shortages in rural towns stem from panic buying and distribution bottlenecks. Victoria and Tasmania states have made travel on public transport free, and Albanese urged motorists nationally to do what they can to conserve pe...
Australia and Indonesia signed a security treaty on Friday, paving the way for closer cooperation and new military training facilities in Southeast Asia’s largest economy. The pact will facilitate defence initiatives that include embedding a senior Indonesian officer within Australia’s defence force, Prime Minister Anthony Albanese said in a joint statement after the signing in Jakarta. Australia will also support the development of military training facilities to boost Indonesia’s ability to conduct joint drills, he said. Australian Foreign Minister Penny Wong and Indonesia’s sovereign wealth fund Danantara chief Rosan Roeslani show signed document at the Merdeka Palace in Jakarta, Indonesia, February 6, 2026. —Reuters Canberra has been seeking to bolster its military power in the Asia-Pacific region to counter China’s growing influence. Indonesia has proven more cautious with its foreign policy, not wanting to be seen taking sides and upsetting Beijing, its biggest trading partner. Albanese hailed the agree...
United States Treasury Secretary Scott Bessent said Australia and several other countries would join a meeting of finance ministers from the Group of Seven (G7) advanced economies that he is hosting in Washington on Monday to discuss critical minerals. Bessent said he had been pressing for a separate meeting on the issue since last summer’s summit of G7 leaders, and finance ministers had already held a virtual meeting in December. India was also invited to attend the meeting, Bessent told Reuters in an interview after touring the Minneapolis-area engineering lab of RV and boat maker Winnebago Industries. He said he was unsure if it had accepted the invitation. It was not immediately clear which other countries had been invited. The G7 includes the United States, Britain, Japan, France, Germany, Italy and Canada, as well as the European Union, most of whom are heavily dependent on rare earth supplies from China. The group last June agreed on an action plan to secure their supply chains and boost their economie...