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A proposed price cap on Russian oil exports will only work if countries beyond Europe and the United States join the scheme, Shell Chief Executive Ben van Beurden said. The G7 group of countries agreed on Tuesday to impose a ban on …
U.S. Treasury Secretary Janet Yellen is pressing European counterparts to embrace measures designed to enforce a price cap on Russian oil, Bloomberg reported. Yellen spoke Monday with Constantinos Petrides, the finance minister of …
Serbia must find a replacement for Russian oil, President Aleksandar Vucic said. According to him, this topic is relevant, as the republic is facing problems in its supply. "The big and strategic problem [is] that we have …
China and India may be buying more Russian oil than the U.S. previously believed, easing a supply crunch in global markets and potentially driving a recent price decline, one of President Joe Biden’s economic advisers said. …
Exports of Russian oil to China in May increased by 55% year-on-year, surpassing supplies from Saudi Arabia and making Russia the largest supplier of oil to the country, Reuters reported on Monday, citing data from Chinese customs. …
Russia has no need to cut its oil output in response to the European Union’s embargo, Deputy Prime Minister Alexander Novak told RBC business channel on Thursday. He earlier said he expected Russia’s annual …
Russia became the second largest supplier of oil to India in May, Reuters writes, citing its own sources. "Russia became the second largest supplier of oil to India in May, displacing Saudi Arabia to third place, but still behind …
The "Druzhba" oil pipeline continues to operate normally, oil is being pumped in accordance with the schedule. Igor Demin, the Transneft's official representative, informed the TASS news agency about it. "The …
Canadian authorities introduced restrictive measures against Russian oil, gas and chemical industries and other sectors of the economy, according to the document posted on the website of Global Affairs Canada. "These new measures …
India is looking to double down on its Russian oil imports with state-owned refiners eager to take more heavily-discounted supplies from Rosneft PJSC, Bloomberg reported. State processors are collectively working on finalizing and …
OPEC+ agreed to increase the size of its oil-supply hikes by about 50%
Saudi Arabia is prepared to raise its oil production if Russia's output falls substantially because of the western sanctions imposed on it, the Financial Times reported, citing sources. Discussions had been held about an immediate …
Konstantin Kosachev, a Federation Council deputy speaker, on Tuesday said a partial embargo on Russian oil imports agreed by the heads of state and government of the European Union will deal a blow to the competitiveness of the economy and the …
Russia stands to loose about $10 billion a year in oil exports revenues if the EU bans shipments, according to Bloomberg calculations. That’s because Russia would be forced to sell its crude at a discount to Asia, where it is …
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, which includes partial embargo on …
EU leaders negotiated the sixth package of sanctions against Russia, which includes, in particular, partial embargo on import of Russian oil and cutting Russia’s Sberbank of the SWIFT international payment system, European Council President …
Oil production in Russia may go down from 524 mln tonnes in 2021 to 480-500 mln tonnes in 2022, Deputy Prime Minister Alexander Novak told reporters, adding that the government expects a gradual output recovery after its decrease in April 2022 by …
Russia’s Industry and Trade Minister Denis Manturov called on the BRICS countries to create joint ventures for the processing of oil and gas without the participation of external "unreliable partners". "As compared …
The European Union will likely agree an embargo on Russian oil imports "within days," Germany's economy minister said on Monday. "We will reach a breakthrough within days," Robert Habeck told German broadcaster …
The European Commission will on Wednesday unveil a 210 billion euro plan for how Europe can end its reliance on Russian fossil fuels by 2027, and use the pivot away from Moscow to quicken its shift to green energy. To wean countries off …
