Yellen says setting price caps on Russian refined oil products ‘complicated’

DAKAR, Jan 21 (Reuters) – Western countries are working to structure price caps on Russian refined petroleum products to ensure continued flow of Russian diesel, but the markets are complicated and there is a chance things do not go to plan, Treasury Secretary Janet Yellen said. Group of Seven countries and Australia implemented a price … Read more

Factbox: Europe rushes to stock up on diesel ahead of Russian ban

LONDON, Jan 13 (Reuters) – Europe is set to ban imports of Russian oil products on Feb. 5 in a move that is already causing massive shifts in global diesel trading. Buyers are rushing to fill European oil storage tanks with Russian diesel, with flows this month on track to hit a one-year high. FEB. … Read more

Oil price cap may widen Russia’s 2023 budget deficit, says FinMin

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Dec 27 (Reuters) – Russia’s budget deficit could be wider than a planned 2% of GDP in 2023 as an oil price cap squeezes export income, Finance Minister Anton Siluanov said, an extra fiscal hurdle for Moscow … Read more

Exclusive: Russian oil sold to India below price cap in buyers’ market

NEW DELHI, Dec 14 (Reuters) – Russia’s flagship Urals crude has been sold at deeper discounts this month following a European ban on Russian oil imports, and dominant buyer India has bought barrels at well below a $60 price cap agreed by the West, four market sources said. The European Union ban on imports of … Read more

Russia’s war on Ukraine latest news: Fighting rages in east, G7 considers air defense

Dec 13 (Reuters) – Global economic powers pledged to beef up Kyiv’s military capabilities with a focus on air defence, as Russian missiles, artillery and drones hammered targets in Ukraine with no end in sight to Europe’s biggest conflict since World War Two. DIPLOMATIC FLURRY * Ukraine’s allies will meet in Paris on Tuesday to … Read more

Twenty oil tankers halted near Istanbul in insurance dispute

Backlog unsettling oil and tanker markets Turkey says out of question to take insurance risk Yellen says oil from Kazakhstan should not be targeted Ankara says most of the waiting ships are EU vessels ISTANBUL, Dec 9 (Reuters) – The number of oil tankers waiting in the Black Sea to pass through Istanbul’s Bosphorus Strait … Read more

Putin acknowledges Russia’s war in Ukraine could be a long one

Nuclear weapons threat risen but ‘we haven’t gone mad’ – Putin Russia fired over 1,000 times at Ukraine power grid – report LONDON/KYIV, Dec 8 (Reuters) – Russian President Vladimir Putin has acknowledged that his army could be fighting in Ukraine for a long time, but for now there will be no second call-up of … Read more

Ukraine appears to show ability to strike far inside Russia

Third Russian airfield reported hit in drone strike Ukraine’s Zelenskiy meets troops near eastern front Oil price cap gives G7 leverage on Russia – US official Dec 7 (Reuters) – A third Russian airfield was set ablaze by a drone strike, a day after Ukraine demonstrated an apparent new ability to penetrate hundreds of kilometers … Read more

Drone attacks oil tank at airfield inside Russia – governor

Kyiv region facing among the most emergency blackouts US to enlist executives’ help on Ukraine energy assets Moscow: Ukrainian drones attack air bases in Russia, 3 dead KYIV, Dec 6 (Reuters) – A drone attack on an airfield in Russia’s Kursk region set fire to an oil storage tank, a governor said on Tuesday, a … Read more

Russia will not export oil subject to the Western price cap, the deputy prime minister says

Russia will not sell oil subject to a price cap Russia working on mechanism to prohibit price cap Russia would rather accept a production cut West imposes $60/barrel cap on Russian seaborne crude MOSCOW, Dec 4 (Reuters) – Russia, the world’s second largest oil exporter, will not sell oil that is subject to a Western … Read more