Radio National Breakfast

Senior federal government ministers are travelling to Asian countries, as they seek assurances on fuel supply.

Prime Minister Anthony Albanese will meet with his Malaysian counterpart in Kuala Lumpur today, after suggesting Brunei might be able to send additional supplies of fertiliser to Australia, while visiting the country earlier this week. 

• GUEST: Don Farrell, Minister for Trade and Tourism
• PRODUCER: Isadora Bogle 

First it was Iran imposing a de facto blockade strangling the Strait of Hormuz and a fifth of the world's oil trade.

This week, the United States followed suit - imposing its own blockade after calls for naval assistance fell on deaf ears among world leaders.

The U.S. Central Command says no vessels have made it past U.S. naval forces during the first 48 hours of the blockade, but ship tracking data suggests several Iranian-linked vessels have travelled through the Strait since the US blockade began.

• GUEST: Arsenio Dominguez, Secretary General of the International Maritime Organization
• PRODUCER: Pip Cook

Key Pakistani mediators are in the Iranian capital in a bid to revive peace talks between the US and Iran.

It comes after marathon talks between the two sides ended without a deal in Islamabad at the weekend. 

• GUEST: Richard Nephew, former deputy special envoy for Iran and principal sanctions coordinator in the US state department
• PRODUCER: Pip Cook

As the price of jet fuel soars by as much as 150% for the Asia and Oceania region, airlines are raising prices and cutting flights which they say are no longer viable.

Qantas and Virgin are reducing their domestic services, with one flight into Mount Gambier being axed entirely, while Chinese airlines are scrapping some Australian-bound planes in favour of those heading to Europe.The soaring fuel costs are also affecting air-bound charities - including Little Wings.

The charity flies sick children from the bush to city hospitals, but now it's had to drastically reduce its services.

• GUEST: Clare Pearson, CEO of Little Wings

Australia's wealthiest person Gina Rinehart might have to pay hundreds of millions of dollars in royalties to the descendants of her father's former business partners, following a landmark decision handed down in the WA Supreme Court yesterday. 

It's been one of the most costly civil actions ever seen in an Australian court - with most of the case resting on a partnership agreement dating back to 1978. 

• GUEST: Paul Garvey, senior reporter at The Australian
• PRODUCER: Eddy Diamond 

A fire has broken out at Viva Energy's Geelong Oil Refinery - one of Australia's two remaining oil refineries.

Firefighters spent the night battling the fire, which is now at Advice level. All refinery staff have been accounted for.

• GUEST: Stretch Kontelj OAM, Mayor of Geelong

The Coalition says it has a plan to restore "integrity and confidence" to Australia's migration system, with Opposition Leader Angus Taylor vowing to slash the intake and enhance screening in a major policy speech this week.

Many working in the migration sector agree reform is vital - but for economic rather than security reasons; arguing the system is failing to address skills shortages and drive productivity.

• GUEST: Mark Glazbrook, migration agent and Managing Director of Migration Solutions
• PRODUCER: Jason Whittaker 

The Victorian government will have to establish new political donation and disclosure laws, after the High Court ruled current legislation invalid.

The court yesterday found the current laws unfairly favoured the major parties.

Integrity watchdogs have welcomed the ruling, saying major parties have been able to exploit current loopholes in the law. 

• GUEST: Catherine Williams, Executive Director, Centre for Public Integrity
• PRODUCER: Eddy Diamond

The Coalition says the government has "lost control" of migration, with the opposition leader vowing to slash the intake and enhance screening on visa applicants.

• GUEST: David Gazard, corporate consultant and former Liberal Party adviser to Peter Costello, Tony Abbott and John Howard.

The International Monetary Fund has warned of significant pressure on the global economy and inflation if the war between the US and Iran is prolonged.

Its worst-case scenario would see a global recession... inflation as high as six per cent... and elevated fuel prices all the way through 2027.

We'll speak to Treasurer Jim Chalamers.

Then, Israel and Lebanon have held their first direct talks in over three decades, with U.S. Secretary of State Marco Rubio calling it a “historic opportunity”.

But he also made clear no breakthrough agreement was expected, as the conflict -- between the Iran-backed militant group Hezbollah and Israel -- continues.

Back in Australia, the Opposition Leader Angus Taylor has outlined the first part of the Coalition's immigration policy, aiming to reduce migration, increase screening of visa applicants and kick migrants out of the country who do not abide by Australian values.

Finally, we look back at three years of civil war in Sudan, which has seen more than 14-million people displaced.

Recap the morning's news, politics and global affairs with the Breakfast Wrap.