Tag Archives: Russia

The European Union, ever the conflicted protagonist in its own energy saga, is gearing up to throw its weight around in the global LNG market—again. A leaked draft from the European Commission suggests Brussels will “immediately engage” with LNG suppliers to stabilize energy prices, all while still pretending it’s on …

The Group of Seven is considering collectively tightening an oil price cap on Russian petroleum in an effort to cut Moscow’s oil revenues as the war in Ukraine rages on, Bloomberg has revealed. A draft statement seen by Bloomberg shows that these nations could task their finance ministers to collectively …

Ever since the U.S. introduced sanctions on Russian energy, Moscow has been transporting oil under the radar using clandestine techniques such as shadow fleets. Demand for Russian crude has risen from some countries as Putin has offered oil at highly discounted rates to maintain Russia’s export revenues. Countries such as …

U.S. sanctions against Russia’s oil exports and trade should not hinder Russian energy trade with India, Russia’s first deputy energy minister, Pavel Sorokin, said on Tuesday. Indian refiners are scrambling for alternatives after the U.S. sanctions designated hundreds of tankers, as well as oil traders, last month. Since the Russian …

China’s independent refiners have slashed their processing rates to the lowest level in nearly five years as costs to procure crude soared amid dwindling Russian supply following the latest U.S. sanctions. Crude supply became more expensive for the private Chinese refiners, concentrated in the Shandong province, and dragged refining margins …

Since Russia launched its full-scale invasion of Ukraine nearly three years ago, Western nations have accused China of supplying Moscow with microchips and other critical dual-use technologies that are “powering Russia’s brutal war of aggression.” In response, Washington and Brussels have hit hundreds of Chinese companies and individuals with sanctions …

Goldman Sachs analysts predict Brent crude prices could temporarily surge to $93 per barrel if sanctions successfully curb oil exports from Iran and Russia by a combined 1 million barrels per day (bpd). In a note shared by Zerohedge on X, the bank outlined a scenario where Iran faces persistent …

The European Commission did not propose a ban on Russian liquefied natural gas in its latest package of sanctions because member states raised concerns about first securing alternatives including from the United States, EU diplomats said. “First you have to have a deal because otherwise you will be left without …

Russia seems to be having little difficulty skirting US Treasury sanctions when it comes to its oil industry, with the country managing to send shipments of sanctioned oil aboard sanctioned tankers to India. The U.S. Treasury’s January crackdown on Russian crude exports doesn’t appear to be a problem for Moscow, …

Trade in Russian crude loading for Asia in March has come to a screeching halt as tanker rates are soaring and shippers are scrambling for non-sanctioned vessels following the latest U.S. sanctions on Russia’s oil supply, Reuters reports, citing shipping data and trade sources. The Biden Administration’s farewell sanctions on …