Russian litigants fighting cases in London’s High Court are being forced to find new representation as the biggest UK-based law firms are increasingly refusing to act for them in the Continue Reading
Russian Foreign Minister Sergei Lavrov on Saturday said Western sanctions would have no effect on the country’s oil exports and predicted a big jump in profits from energy shipments this Continue Reading
France is in talks with the United Arab Emirates to replace Russian oil purchases, which will stop after the imposition of a European Union ban on Russian crude, Finance Minister Continue Reading
Russians are seeing two versions of the war in Ukraine through one of the biggest platforms for news in the country, the social media and chat app Telegram . One Continue Reading
Ukraine has signed a deal for the U.S. nuclear power company Westinghouse to supply fuel to all of its atomic power stations in an effort to end the country’s reliance Continue Reading
Ukraine said it had recaptured a chunk of the factory city of Sievierodonetsk, the focus of a Russian offensive to take the eastern Donbas region, and could hold it for Continue Reading
Oleksandr Kubrakov, Ukraine’s infrastructure minister, told the Financial Times that “all of our activity won’t cover even 20 per cent of what we could do through the Black Sea ports”. Continue Reading
Vladimir Efimov, a local politician on the Kamchatka Peninsula in Russia’s Far East, was charged with “discrediting the army” and ordered to pay a $500 fine three times in recent Continue Reading
Ukraine — First came the distant bang of Russian artillery firing. Then the ominous whistle and crackle of incoming shells, which landed within 50 feet of a Ukrainian tank position, Continue Reading
Russia’s Finance Ministry expects $6.37 billion in additional oil revenue in June. Russian oil exports haven’t fallen off a cliff, while it continues to sell natural gas to most of Continue Reading
Russian officials have raised increasingly frustrated requests for greater support during discussions with Beijing in recent weeks, calling on China to live up to its affirmation of a “no limits” Continue Reading
European Union’s embargo on oil imports from Russia may result in significant shortages of oil and oil products in Europe, Russian Deputy Prime Minister Alexander Novak said on Thursday, also Continue Reading
With only weeks left before Ukraine’s wheat harvest begins in earnest, Poland is racing to speed up the flow of grain from its war-torn neighbor, scouring Europe for spare train Continue Reading
Russia is confident that it will be able to restore in June oil production lost in March and April, with this month seen as “maximum recovery relative to previous levels,” Continue Reading
European Union ambassadors approved on Thursday the proposed partial ban on Russian oil imports into the EU as part of a sanctions package that also aims to cut Russia off Continue Reading
P&I cover unavailable for sanctioned location voyages Japan closely watching EU insurance ban on Russia ships Russian shipping gets costlier The European Union’s ban on insurance and reinsurance of Russian Continue Reading
After 100 days of war, Ukraine is fighting for time, trying to hold out against overwhelming Russian fire on its eastern front long enough for Western weapons to arrive and Continue Reading
Sanctions-hit Russia has limited exports of noble gases such as neon, a key ingredient for making chips, until the end of 2022 to strengthen its market position, its trade ministry Continue Reading
Germany must work harder to reduce its energy-dependence on Russia but Western sanctions in response to Moscow’s invasion of Ukraine are still taking a heavy toll on the Russian war Continue Reading
French industrial production unexpectedly declined in April, falling for the third consecutive month on continued weakness in manufacturing amid supply disruptions following the war in Ukraine. The factory data for Continue Reading
Shell won official consent to develop the Jackdaw natural gas field in the UK North Sea, eight months after the country’s regulator blocked the project on environmental concerns. Shell Plc Continue Reading
Italy’s prime minister has hatched a radical plan to contain the oil price rally, a plan that involved creating a cartel of oil consumers to increase their bargaining power. The Continue Reading
Biden administration officials are divided over how much further the US can push sanctions against Russia without sparking global economic instability and fracturing transatlantic unity. Biden administration officials are divided Continue Reading
A steep discount in Russian diesel prices compared with fuel produced by other countries has spread to the European barge market in two-tier trading that is likely to continue as Continue Reading
U.S. President Joe Biden announced on Wednesday a new $700 million weapons package for Ukraine that will include high mobility artillery rocket systems, which can accurately hit targets as far Continue Reading
Russia’s factories suffered a sharp fall in output in April, with auto production leading the way down, falling 61% from last year as Western sanctions in response to the invasion Continue Reading
Northern European countries are discussing plans to create a common power grid under the North Sea to connect future offshore wind farms as they seek to strengthen energy security, but Continue Reading
Russian gas flows to Europe dipped slightly on Thursday morning, with reverse flows on the Yamal-Europe pipeline also easing, all in line with customer requests, operator data showed. Physical flows Continue Reading
The damage inflicted on Russia by sanctions was on full display in April as the economy swung into a contraction, with industrial production dropping and retail sales suffering their worst Continue Reading
Russia’s failure to pay $1.9 million in accrued interest on a dollar bond will trigger payouts potentially worth billions of dollars, a panel of investors determined on Wednesday, as the Continue Reading
The Biden administration plans to sell Ukraine four MQ-1C Gray Eagle drones that can be armed with Hellfire missiles for battlefield use against Russia, three people familiar with the situation Continue Reading
The old nuclear order, rooted in the Cold War’s unthinkable outcomes, was fraying before Russia invaded Ukraine. Now, it is giving way to a looming era of disorder unlike any Continue Reading
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
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
