Embargo aims to hit Russian ability to finance war Ban gives carveout to European Union leaders handed Hungary concessions to agree an oil embargo on Russia over its invasion of Continue Reading
Europe’s phased-in rather than an immediate embargo on Russian oil gives Moscow time to re-route volumes to new customers in Asia in the next six months, Russian analysts and traders Continue Reading
Russian oil companies led by Rosneft (ROSN.MM) plan to re-open wells in June that they had shut due to Western sanctions, four sources said, as firms bank on a pick-up Continue Reading
The European Union has agreed to ban the bulk of imports of Russian crude and oil products in its latest round of sanctions following Moscow’s invasion of Ukraine. The ban Continue Reading
Russia widened its gas cuts to Europe on Tuesday with energy giant Gazprom (GAZP.MM) turning off supplies to top Dutch trader GasTerra escalating the economic battle between Moscow and Brussels. Continue Reading
Danish energy group Orsted said on Tuesday it would be able to source natural gas from the European gas market after Russian state gas firm Gazprom (GAZP.MM) announced it would Continue Reading
The European Union is set to impose its toughest sanctions yet on Russia, banning imports of its oil and blocking insurers from covering its cargoes of crude, officials and diplomats Continue Reading
Inflation in the eurozone reached an annual 8.1% in May, underlining the growing cost to households of Russia’s invasion of Ukraine and of the sanctions European governments have imposed in Continue Reading
The European Union’s partial embargo on Russian oil sounds impressive, but it is the bloc’s insurance ban on crude shipments that packs the most punch. After weeks of political wrangling Continue Reading
The UK and EU have agreed a coordinated ban on insuring ships carrying Russian oil, shutting Moscow out of the vital Lloyd’s of London insurance market and sharply curbing its Continue Reading
Seven weeks after sending a new commander to Ukraine to oversee a refocused invasion, Russia faces a truth that a former American defense secretary, Donald Rumsfeld, defined as the necessity Continue Reading
Russia’s flagship crude grade, which was sold mostly to Europe before the Russian invasion of Ukraine, is still selling, but predominantly in Asia, and at a huge discount to Dated Continue Reading
The federal Russian government will increase minimum wages and pensions from June 1 as it seeks to counter the effects of double-digit inflation closely linked to Western sanctions. Inflation in Continue Reading
As in many parts of the world, gasoline prices in the UK hit a fresh record high on Tuesday amid rallying oil prices after the partial EU ban on Russian Continue Reading
Highlights Russian oil supply losses seen reaching at least 2 million b/d EU looks to US, Middle East, WAF suppliers to replace Russian oil Asian buyers eager for discounted Russian Continue Reading
Russian gas flows to Europe fell on Wednesday after Moscow widened European cuts and halted Dutch, Danish and German contracts over refusals to accept Moscow’s roubles-for-gas payment scheme. Eastbound gas Continue Reading
European natural gas prices declined, with Russia unlikely to cut flows to additional buyers after a dispute over payment terms demanded by Moscow. Benchmark futures dropped as much as 8.9%. Continue Reading
The UK and EU have agreed a co-ordinated ban on insuring ships carrying Russian oil, shutting Moscow out of the vital Lloyd’s of London insurance market and sharply curbing its Continue Reading
The United States will send Ukraine advanced rocket systems and munitions as part of a new $700 million package of military equipment intended to help the Ukrainians fight back against Continue Reading
