The European Union on Friday formally approved an embargo on Russian oil and other sanctions targeting major banks and broadcasters over Moscow’s war on Ukraine. EU headquarters says Russian crude oil will be phased out over six months, and other refined petroleum products over eight months. It says that “a …
Read More »France Calls on Iran to Release Two Seized Greek Tankers
French Foreign Ministry has called on authorities of the Islamic Republic to release the two seized Greek tankers in the waters of the Persian Gulf. Iran’s seizure of two Greek-flagged oil tankers in Gulf waters is a “violation of international law”, France’s foreign ministry claimed in a statement on Sunday, …
Read More »Qatar’s GDP Growth will be Fueled by FIFA World Cup and Gas Prices
Apart from the host nation Qatar, the FIFA World Cup 2022 should deliver sizeable economic prospects for UAE and Bahrain too. The football carnival is expected to give a $20 billion to $25 billion boost to Qatar. In addition, rising liquid natural gas (LNG) prices and the spurt in orders …
Read More »Russia Oil Sanctions won’t be Approved at EU Summit
European Commission President Ursula von der Leyen has ruled out reaching an EU-wide agreement on banning Russian oil imports at next week’s European Council summit. In an interview with POLITICO on the sidelines of the World Economic Forum in Davos, von der Leyen said she did not want to raise …
Read More »Iran Ready to Cooperate with Bulgaria in Energy Field
In a meeting with the Bulgarian official, Iran’s Deputy Foreign Minister for Economic Diplomacy said that Iran is ready to cooperate with Bulgaria in the energy field. During the meeting held with Deputy Minister of Foreign Affairs of Bulgaria Velislava Petrova on Sunday, Mahdi Safari expressed satisfaction with the increase …
Read More »China Warns NATO not to Interfere in Asia
China increasingly sees the war in Ukraine — and the roles of the United States and its NATO allies in backing Kyiv against Moscow — as a reflection of future tensions to come between the military bloc and Beijing in the Indo-Pacific. Ever since Russian tanks first crossed into Ukraine …
Read More »Novak: Russia’s Crude Production up in May
Russia’s crude oil production is on the rise so far in May, Deputy Prime Minister Alexander Novak told TASS news agency on Monday. Russia’s crude oil production slipped by half a million bpd in March, by a full million bpd in April, with many analysts stating concern that those barrels …
Read More »OPEC+ Set to Agree Oil Output Increase of 432,000 bpd for June amid Price Rally
OPEC+ will likely stick to modest oil output increases on Thursday arguing it is not responsible for geopolitics and supply disruptions while stressing its worries over the demand outlook due to new Covid-19 lockdowns in China. Delegates from the group said OPEC+ was set to agree another monthly increase of …
Read More »EU Takes Major Step towards Russian Oil Ban, New Sanctions
The European Union’s top official on Wednesday called on the 27-nation bloc to ban oil imports from Russia and target the country’s biggest bank and major broadcasters in a sixth package of sanctions over the war in Ukraine. European Commission President Ursula von der Leyen, addressing the European Parliament in …
Read More »Putin Publishes New Sanctions against the West
Russian President Vladimir Putin has threatened to terminate exports and deals with the West and add certain individuals and entities to the Kremlin’s sanctions list in retaliation for sanctions imposed by the United States and the European Union. Russian President Vladimir Putin introduced a package of economic measures on Tuesday …
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