Tag Archives: Russia

India will not breach Western sanctions on Russia including the price cap of $60 imposed on purchases of oil from Moscow, according to people familiar with the matter. Government authorities have asked banks and traders to adhere to the rules, the people said, declining to be identified as the information …

Russia is accelerating its exports of diesel to Saudi Arabia by both direct shipments and ship-to-ship transfers, Reuters reported on Friday, quoting trade sources and shipping data from Refinitiv. Using STS loadings, Russia is shortening the routes for tankers headed to Africa and Asia after Moscow is now banned from …

The EU’s energy policy chief has called on European countries and companies to refrain from signing new contracts for the purchase of Russian liquefied natural gas (LNG). Earlier today, Kadri Simson, had a meeting with IEA’s Executive Director Fatih Birol – they both discussed the challenges in the European energy …

Saudi Arabia and Russia reaffirmed close cooperation in the OPEC+ oil cartel, and discussed Ukraine, grains and Syria at a foreign ministers’ meeting Thursday. Saudi Foreign Minister Prince Faisal bin Farhan said he spoke with his Russian counterpart about “the importance of deep coordination between the Kingdom and Russia in …

Despite the exodus of almost every Western oil company, Russia can maintain crude oil production longer than many expect, according to S&P Global Vice Chairman Dan Yergin. “There’s going to be a decline but it’s going to be a slower decline,” Yergin told Bloomberg TV at the CERAWeek by S&P …

U.S.-led international sanctions on Russia have begun to erode the dollar’s decades-old dominance of international oil trade as most deals with India – Russia’s top outlet for seaborne crude – have been settled in other currencies. The dollar’s pre-eminence has periodically been called into question and yet it has continued …

India’s imports of crude oil from Russia soared to a record 1.6 million barrels per day in February and is now higher than combined imports from traditional suppliers Iraq and Saudi Arabia. Russia continued to be the single largest supplier of crude oil, which is converted into petrol and diesel …

Russia is expected to mothball the Nord Stream natural gas pipelines damaged in the sabotage last autumn as there are no plans to either put them to use or repair them soon, Reuters reported on Friday, quoting sources with knowledge of the plan. Russia plans to seal up the ruptured …

Russia will no longer rely on the West for its energy trade and its new energy policy will be oriented towards more reliable partners like India and China, said Russian Foreign Minister Sergey Lavrov in Delhi on Friday. “We would not rely anymore on any partners in the West. We …

Poland and Ukraine on Thursday called for international sanctions against Russia’s nuclear energy sector, saying they feared their neighbour may hurt energy security and economies in Europe if attacks on Ukrainian power facilities continue. Last week, the European Union adopted the tenth package of sanctions targeting Russia, but did not …