Tag Archives: Russia

The European Union on Friday formally approved an embargo on Russian oil and other sanctions targeting major banks and broadcasters over Moscow’s war on Ukraine. EU headquarters says Russian crude oil will be phased out over six months, and other refined petroleum products over eight months. It says that “a …

Moscow could respond to European sanctions on Russian oil by seeking other buyers for its crude or cutting production to keep prices high. Its actions would have a global economic impact — unless OPEC intervenes. EU leaders on Monday agreed to ban 90% of Russian crude by the end of …

Oil prices strengthened on Wednesday after European Union leaders agreed to a phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai, which could bolster demand in an already tight market. Oil benchmarks have marched steadily higher for several weeks as Russian shipments are squeezed by …

Russia will find other importers for its oil, Russian Permanent Representative to international organizations in Vienna Mikhail Ulyanov said, commenting on the sixth package of EU sanctions against Russia. “As she rightly said yesterday, #Russia will find other importers. Noteworthy that now she contradicts her own yesterday’s statement. Very quick …

Oil prices extended their rally on Tuesday after the EU agreed to ban most of Russia’s oil imports by the end of the year, raising concerns about a tighter market amid higher demand expectations in the summer. Brent, the benchmark for two thirds of the world’s oil, was up 1.43 …

Long before the re-emergence of the ‘Pan-Arab’ ideology now increasingly evident among several leading Middle Eastern countries, Qatar had sought to go its own way, neither aligning fully with the U.S.-led power bloc on the one side nor the China/Russia-lead bloc on the other. This is in part a reflection …

Russian oil behemoth Rosneft PJSC promised record dividends on the back of soaring prices, but some foreign investors may struggle to access the payout. The board recommended 23.63 rubles a share for the second half of 2021, bringing full-year dividends to an all-time high of 41.66 rubles. That follows an …

Denmark could be the next country cut off from Russian natural gas as its biggest utility is refusing to cave in and make payments in rubles. Orsted A/S is preparing for Gazprom PJSC to cut off one of Denmark’s biggest sources of the fuel, the firm said in a statement …

European diplomats were pushing for a deal on stopping Russian oil imports on Monday, with leaders poised to back down to Hungary in a stand-off over sanctions when they assemble for a two-day summit on the fallout of the war in Ukraine. A proposal circulated among European Union diplomats would …

Russia’s Gazprom has resumed shipping natural gas to Turkey after completing planned maintenance on the undersea Blue Stream gas pipeline, the Interfax news agency reported on Monday.