Tag Archives: Russia

Global oil prices could reach a “stratospheric” $380 a barrel if US and European penalties prompt Russia to inflict retaliatory crude-output cuts, JPMorgan Chase & Co. analysts warned. The Group of Seven nations are hammering out a complicated mechanism to cap the price fetched by Russian oil in a bid …

The European Union’s executive arm on Friday pledged to draft an emergency plan this month aimed at helping member countries do without Russian energy in the wake of the Kremlin’s war in Ukraine. European Commission President Ursula von der Leyen said the initiative would build on EU moves to ditch …

Russia’s move to reshuffle ownership of the Sakhalin-2 natural gas project may constrict global markets even more by pushing Japan to compete with Europe for alternative sources of supply. President Vladimir Putin’s decree to transfer rights for the plant to a new Russian company has no immediate impact on the …

Gazprom could reportedly seek to change the terms of its delivery contracts if countries implemented a price cap on Russian gas. That follows reports which claimed that G7 leaders will start exploring the options around imposing possible price caps on Russian oil and gas imports. It is expected that the …

Oil tankers owned by Russia’s state-backed fleet operator Sovcomflot are still delivering to ports in Europe, according to OCCRP, a global network of investigative journalists. The company disguised its ownership of the vessels by basing subsidiaries in Cyprus and the United Arab Emirates. Once the sanctions came into full effect, …

European natural gas prices fluctuated, with traders weighing the return of flows via Turkey against the risk of a further deterioration in supplies to the continent. Gas shipments via the TurkStream pipeline resumed after maintenance ended on Monday, Russia’s Gazprom said on Telegram. The link, which has an annual transport …

Russia’s reckless and bloody invasion of Ukraine in February set in motion a cascade of events for which it was ill-prepared. Europe began the process of divorcing itself from Russian fossil fuels, the U.S. coordinated sweeping export controls on key inputs such as semiconductors with Asian partners, and the Russian …

Oil prices were rising on Tuesday sparked by renewed supply fears as the G7 group of nations discussed a price cap on Russian crude imports. The front-month contract for Brent crude North Sea oil was last seen up USD 1.27 at USD 116.36/bbl, while the WTI equivalent was USD 1.07 …

Germany is in crisis in the immediate aftermath of Russia’s energy giant, Gazprom, effecting a 60 per cent reduction in the amount of natural gas it supplies to the country. This appears to be the latest move by the Kremlin to punish Europe for sanctions and military support for Ukraine. …

European Union governments are confronting the risk of a splintering energy market as Russian cuts in natural-gas supplies test EU unity in response to the war on Ukraine. An increase in gas supply disruptions following EU sanctions on Russia is prompting member countries to step up winter preparations as they …