(Bloomberg) – The U.S. imposed the first sanctions for violations of the price cap on Russian oil introduced by the Group of Seven nearly a year ago, as signs mount the restriction is failing to cut Kremlin revenues …
NEW DELHI – Record high imports of crude oil from Russia in fiscal 2022-23 helped India’s refiners boost exports of diesel and jet fuel to Europe as the continent shunned Russian products, preliminary ship-tracking data from Kpler and Vortexa …
The price cap of $60 per barrel for Russian oil devised by the G7 and supported by the European Union comes into effect today, aiming to curb Russia’s revenues from oil exports while keeping flows into the international …
LONDON – Oil prices fell by more than $2 a barrel on Wednesday as the Group of Seven (G7) nations looked at a price cap on Russian oil above where the crude grade is currently trading.
Brent
WASHINGTON – The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow’s ability to fund its invasion of Ukraine, a plan analysts say could work in the long term …
(Bloomberg) — The European Union’s ban on seaborne imports of Russian petroleum in response to Russia’s invasion of Ukraine will lead to an 18% drop in the country’s fuel output by the end of next year, the Energy …
U.S. Treasury officials said on Tuesday they plan to propose at this week’s G7 finance meeting that European countries impose tariffs on Russian oil, as a faster alternative to an outright oil embargo.
European Union officials are considering a …
LONDON: Oil prices jumped on Wednesday as the European Union, the world’s largest trading bloc, spelled out plans to phase out imports of Russian oil, offsetting demand worries in top importer China.
Brent crude futures rose $3.99, or 3.8%, …
BRUSSELS -The European Union was preparing a ban on Russian oil, with possible exemptions for wary countries, as EU energy ministers on Monday held crisis talks on Moscow’s demand that foreign buyers pay for gas in roubles or lose …
LUXEMBOURG – The European Union’s executive is drafting proposals for an EU oil embargo on Russia, the foreign ministers of Ireland, Lithuania and the Netherlands said on Monday, although there is still no agreement to ban Russian crude.
“They …
Asia will become the default market for Russian oil as the country tries to find buyers for its energy exports, said Dan Yergin, vice chairman of S&P Global.
Major oil importers in Asia like China and India have been …
LONDON – OPEC officials believe a possible European Union ban on oil from its partner Russia would hurt consumers and the group has conveyed its concerns to Brussels, OPEC sources said.
Major OPEC members, such as Saudi Arabia and
(Bloomberg) — TotalEnergies SE said it will stop buying Russian crude and diesel by the end of the year, becoming the latest energy giant to shun the country’s oil in protest against the invasion of Ukraine.
The announcement …
(Bloomberg) — President Joe Biden said the U.S. will ban imports of Russian fossil fuels including oil, a major escalation of Western efforts to hobble Russia’s economy that will further strain global crude markets.
“We’re banning all imports …
MOSCOW/LONDON – The rapidly rising price of Russia’s flagship Urals blend oil has forced European refineries to cut purchases from Moscow and look for crude supplies elsewhere, traders said on Friday.
Urals, a blend of heavy sour oil from …
From Bloomberg
Petroleum exports from Russia to the U.S. are growing rapidly as the supplier takes advantage of lost deliveries from sanctions-hit Venezuela and supply cuts by OPEC members.
In the first half of May, 13 ships from Russia delivered …
