Global commodities trader Trafigura Group will stop all purchases of crude oil from Russia’s state oil company Rosneft by May 15, a company spokesperson said on Tuesday. The Geneva-based firm will also “substantially reduce” the volume of refined products it buys from Rosneft. Trafigura, along with rival Vitol, is a major lifter of Russian oil, mainly from Rosneft. read more The company and other major trading firms previously said they would only fulfil existing contracts and not agree any new deals. Under European Union financial sanctions against Russia, traders will no longer be able to buy oil from Rosneft after May 15 unless it is “strictly necessary” to secure the EU’s energy needs. read more The European Union is considering several options to cut imports of Russian oil […]