Tag Archives: Russia

India, the world’s third largest oil importer and consumer, has emerged as the top buyer of the discounted Russian seaborne oil after Western nations stopped buying from Moscow following its invasion of Ukraine. Middle Eastern supplies are also likely to tighten further following Saudi Arabia’s decision to extend its voluntary …

India’s government is expected to reject demands from Russian oil companies to pay for Russia’s crude oil imports in Chinese yuan, Indian officials told Bloomberg on Friday. Russia and its companies need Chinese currency as Russian trade has become much more reliant on China after Putin’s invasion of Ukraine and …

Shipping rates for transporting Russian crude have surged since last week after the U.S. took a tougher stance on sanctions for vessels carrying Russia’s oil above the G7 price cap, traders have told Reuters. Last week, the United States took a tougher stance on the Western sanctions against Russia. The …

Iran’s oil minister on Thursday said that Tehran-Moscow cooperation paves the way for the progress of not only the two countries but also regional states. Javad Owji, who addressed a specialized session of the 6th Russian Energy Week International Forum in Moscow, added that a historic opportunity has been created …

Russian Deputy Prime Minister Alexander Novak said that Russia and Saudi Arabia will discuss the oil market situation and oil prices later on Wednesday, news agencies reported, as the Israel-Palestinian conflict rages on. Saudi Arabia’s Minister for Energy Prince Abdulaziz bin Salman is due to take part in an energy …

A new hub is emerging for ship-to-ship (STS) transfers of Russian oil. In the shadow tanker game of whac-a-mole where some areas make headlines and then fade from view, Israeli maritime artificial intelligence firm Windward has identified an area near the Suez Canal in Egyptian waters as a new spot …

Russian Vladimir Putin on Saturday announced the start of gas supplies to Uzbekistan via Kazakhstan, a boost for Russia’s industry hit by a flurry of Western sanctions over the offensive in Ukraine. Despite being home to a wealth of natural resources including gas, the Central Asian country of Uzbekistan has …

Russia’s potential withdrawal from the Comprehensive Nuclear-Test-Ban Treaty (CTBT) will not imply that the country will restore nuclear tests, Kremlin spokesperson Dmitry Peskov said Friday in a statement. The statement came after Russian President Vladimir Putin said at the 20th Annual Meeting of the Valdai Discussion Club on Thursday that …

The government is scheduled to discuss a long-term program for the import of discounted crude oil from Russia with the administration in Moscow next week, officials confirmed Arab News on Friday, as the South Asian state seeks to diversify its energy supplies at cheaper rates. A Pakistani delegation, headed by …

Cheaper Russian crude compared to Middle Eastern alternatives has prompted Indian refiners to import more crude from Russia in September compared to a seven-month low in August, according to preliminary tanker-tracking data. India’s crude oil imports from Russia rebounded amid tighter market and more expensive crude from the Middle East, …