Tag Archives: Russia

European Union diplomats meeting for a second week in a row failed to agree on a ceiling to cap Russian oil exports as countries remained divided about how to best to reduce Moscow’s capacity to fund its war in Ukraine. The European Commission brought down its initial suggestion of $65-$70 …

The European Union’s energy crisis response plan is being challenged by the bloc’s members’ differing opinions on whether a price cap should be implemented on natural gas imports and, if yes, how exactly this implementation should look. While EU officials try to put on a brave face and send positive …

This week saw two documents published by two government departments: the European Commission in Brussels and the Department of Treasury in Washington. The Commission’s document was a proposal for “a new instrument” aimed at limiting excessive gas prices in Europe. The Treasury’s document was guidance on the implementation of a …

A meeting of European Union government representatives, scheduled for Friday evening to discuss a Group of Seven (G7) proposal to cap Russian seaborne oil prices, was cancelled, EU diplomats said. “There was not enough of a convergence of views,” one diplomat said. “There won’t be a meeting tonight nor this …

Oil prices fell on Nov. 26, recording their third straight weekly losses, amid anticipation of talks about ceiling Russia’s oil prices. The European Union decided to postpone talks on setting a ceil for Russia’s oil prices, due to disagreements between member states, Bloomberg reported. Some European countries, such as Poland, …

After failing to reach an agreement on a price cap for Russian gas, the EU is set to resume talks on limiting the price of Russian crude on Friday night. And, just as was the case for natural gas, the bloc has so far failed to agree on how strict …

Ambassadors from the 27 EU countries are discussing the G7 proposal with the aim of reaching a common position by the end of the day. Views in the EU are split, with some pushing for a much lower price cap and other arguing for a higher one. The G7, including …

Oil tanker tycoons are enjoying a surge in revenue as the sanctions triggered by Russia’s war are redrawing the global trade in crude. And it’s set to last. The disruption is fairly simple. Europe, for decades the top buyer of Russian oil, is banning purchases from Moscow next month and …

Russia said on Friday that it and China had switched to national currencies in their trade for natural gas, implementing a deal they signed in early September. Noting that Beijing already paid for Russian gas on the basis of the ruble-yuan parity, Deputy Prime Minister Alexander Novak said in a …

The European Union will have its regulations in order before the Russian crude oil price cap and ban goes into effect, the EU’s energy commission told Reuters on Friday. Although the G7 price cap has yet to be quantified. The G7 plan to cap the price of Russian crude oil …