The UN Development Programme (UNDP) has started implementing a project to prevent a massive oil spill from a supertanker off Yemen's Red Sea coast with the removal of more than 1 million barrels of oil from the decaying vessel.
The FSO Safer has been at risk of breaking up or exploding for years. A major spill from the vessel would result in an environmental and humanitarian catastrophe.
Under the supervision of experts, 1.14 million barrels of oil is being pumped into the replacement vessel Yemen in a ship-to-ship transfer that is expected to take 19 days to complete.
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.