Putin hits back at western sanctions on Russian oil by vowing...
Russia will deepen trade ties with China and other allies, Putin said in a televised speech on Thursday. That comes shortly after the EU banned seaborne energy imports and slapped a $60 price cap on Russian crude. Putin has called the price cap "stupid," and previously threatened to retaliate against any country who participate. Loading…
Russia offers to help India get hold of big oil tankers...
Russia has offered to help India build or lease big oil tankers to get around G7 price cap rules. The rules forbid EU and UK companies from insuring Russian crude unless it costs under $60 a barrel. Moscow is hunting for buyers for its oil after the EU put an embargo on seaborne imports of…
Russia’s central bank just issued a warning about ‘new economic shocks,’...
The price cap on Russian crude and EU's oil embargo present "new economic shocks," the Bank of Russia said. They could "significantly reduce" Russia's economic activity in the coming months, per the bank. Russia is mulling options to counter the price cap, including banning oil sales to some countries. Loading Something is loading. Thanks for…
Russia has 3 oil moves reportedly in mind to hit back...
Russia could strike back at the G7 price cap in three different ways, according to reports. These include a sales ban to participating countries, a price floor and maximum discounts. Russia's Deputy Prime Minister said any retaliatory measure would come into force by year-end. Loading Something is loading. Thanks for signing up! Access your favorite…
The EU price cap on Russian oil is already disrupting the...
The EU's price cap on Russian crude and its ban on seaborne Russian crude kicked in Monday. Oil tankers have begun piling-up off Turkish shores, as Ankara demands proof of insurance coverage. Shipping insurers rejected the request, as Turkey's asking for coverage that could expose them to a breach of sanctions. Loading Something is loading.…
The EU price cap on Russian oil is already disrupting the...
The EU's price cap on Russian crude and its ban on seaborne Russian crude kicked in Monday. Oil tankers have begun piling-up off Turkish shores, as Ankara demands proof of insurance coverage. Shipping insurers rejected the request, as Turkey's asking for coverage that could expose them to a breach of sanctions. Loading Something is loading.…
Putin has destroyed Russia’s most important oil market – and what’s...
The EU ban on seaborne Russian oil came in Monday, alongside a price cap of $60 a barrel. Putin has "destroyed his most important market for his oil" as Europe now wants no part of it, Daniel Yergin said. Crude prices in the next few weeks depend on what Russia and China's leaders decide, the…
Russian oil just got hit with sanctions and a price cap...
Good morning, Opening Bell crew. Phil Rosen here, reporting from New York. If you take anything away from today's newsletter, let it be this: As of today, Russian oil faces a new European Union embargo, as well as a price cap. Scroll down for details. If this was forwarded to you, sign up here. Download Insider's app…
Putin has destroyed Russia’s most important oil market – and what’s...
The EU ban on seaborne Russian oil came in Monday, alongside a price cap of $60 a barrel. Putin has "destroyed his most important market for his oil" as Europe now wants no part of it, Daniel Yergin said. Crude prices in the next few weeks depend on what Russia and China's leaders decide, the…
Oil prices surge as OPEC maintains production cut targets and China’s...
Crude oil futures jumped on Monday after OPEC said its oil policy will remain unchanged from October. The group has been cutting oil output by 2 million barrels a day due to "market considerations." Prices were also boosted by hopes that China's eyeing an exit from its Covid-zero stance. Loading Something is loading. Thanks for…
