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The Latest Breaking News from Alexander Novak

Russian Government, Central Bank Spar Over Economic Downturn

Russian officials sparred publicly on Friday over how to boost the economy, as growth slows more than three years into its Ukraine offensive.

International Business Times

Russian Deputy PM Assigned New Economic Coordination Tasks

Russian Deputy Prime Minister Alexander Novak takes on broader economic coordination role to drive growth and enhance global position.

Top News

Nicolas Maduro Planning Visit to Russia, Kremlin Confirms

The expected visit is a sign of continued close ties between the two major-oil producing nations which are both at odds with the U.S.

Latin Times

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Russia orders halt on petrol exports

Coming amid attacks on refineries, ban is intended to avert shortages and spiking prices on the domestic market.

Al Jazeera

Russia Says Redirected Most Oil Exports To China, India

After President Vladimir Putin sent troops to Ukraine in February 2022, Western countries hit Russia with a slew of sanctions including a European Union embargo on its seaborne oil deliveries.

International Business Times

A price cap on Russian oil aims to starve Putin of cash. But it's largely been untested. Until now

Prices for Russian oil have risen well above a price cap imposed by Western allies as part of sanctions over the invasion of Ukraine

The Independent UK

Saudi Arabia, Russia plan to extend 1.3 million barrel a day oil cut through the end of the year

Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of the year

The Independent UK

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Saudi Arabia slashes output further to boost oil price

VIENNA - Riyadh on Sunday announced a fresh oil output cut following a meeting of major producers aiming to prop up prices despite fears of a recession.

Bangkok Post

Russia's Novak does not expect new steps from OPEC+ meeting

Russian Deputy Prime Minister Alexander Novak said on Thursday he expected no new steps from the OPEC+ group of oil producers at its meeting in Vienna on June 4, Russian media reported, after the group announced a significant output cut earlier this year.

Reuters

OPEC: We Do Not Target Oil Prices, IEA Should be 'Very Careful'

The International Energy Agency (IEA) should be "very careful" about discouraging investment in the oil industry, which was vital for global economic growth, announced OPEC Secretary General Haitham al-Ghais. Ghais warned that such statements could lead to oil market volatility in the future. He said that the Organization of the…

Asharq Al-Awsat

OPEC+ pricing power is ‘higher than it’s ever been’ after oil cuts, Goldman Sachs says

Oil-producing allies approved another oil production cut that could deal damage to the West.

Fortune

Russia-Ukraine war at a glance: what we know on day 399 of the invasion

UN nuclear watchdog chief Rafael Grossi is due to visit Zaporizhzhia nuclear power plant; explosions reported in occupied Melitopol

The Guardian - AU

Saudi Arabia, Russia Stress Commitment to OPEC+ Decision on Oil Output Cuts

Saudi Minister of Energy Prince Abdulaziz bin Salman met in Riyadh on Thursday with Russian Deputy Prime Minister Alexander Novak who is visiting the Kingdom, the Saudi Press Agency reported. They discussed global oil markets and the efforts of OPEC+ to promote market stability, SPA said. They also stressed their…

Asharq Al-Awsat

Russia-Ukraine war: ‘no indication’ of direct military threat to Moldova or Romania, says US – as it happened

Comments from US come after missiles reported in Moldovan and Romanian airspace

The Guardian - AU

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The Independent UK

Russia says it will cut oil production over Western caps

A Russian official says the country will will cut oil production by 500,000 barrels per day next month in response to the West capping the price of its crude over the war in Ukraine

Reuters

Exclusive-Russia sees sanctions impact on oil products, eyes crude export boost -senior source

Russia expects Western sanctions to have a significant impact on its oil products exports and therefore its production, but that will likely leave more crude oil to sell, a senior Russian source with detailed knowledge of the outlook told Reuters.

France 24

Millions of Ukrainians endure winter without electricity

Ukrainian President Volodymyr Zelensky said on Monday that persisting power shortages throughout the country meant that nearly 9 million people had no electricity. Read our live blog to see how all the day's events unfolded. All times are Paris time (GMT+1).

Asharq Al-Awsat

Russia May Cut Oil Output in Response to Price Caps, Says Deputy PM

Russia may cut oil output by 5%-7% in early 2023 as it responds to price caps on its crude and oil products by halting sales to the countries that support them, Deputy Prime Minister Alexander Novak told state television on Friday. Detailing for the first time the Russian response to…

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Radio France Internationale

Russia intends to cut oil output in response to Western price caps

As Russian President Vladimir Putin said he would sign a decree on Russia’s response to Western price caps on oil, Deputy Prime Minister Alexander Novak said output could be cut by 5 to 7 percent in early 2023.

France 24

US approves $45 billion aid package for Ukraine

The Democratic-controlled US House of Representatives gave final approval on Friday to a $45 billion aid package for Ukraine, as President Volodymyr Zelenskiy returned from Washington with the promise of Patriot missiles to help combat Russia's invasion. Read our live blog to see how all the day's events unfolded. All…

Reuters

Russia discusses debt, energy stability with Venezuela

Russian Deputy Prime Minister Alexander Novak met on Wednesday with Venezuela's oil minister in Caracas, where they discussed oil market volatility and the status of Venezuela's outstanding debts to Russia.

Radio France Internationale

G7 Russian oil price cap and EU embargo come into force

The price cap on Russian oil agreed by the European Union (EU), G7 and Australia is set to come into force on Monday. It aims to restrict Russia's revenue while making sure Moscow keeps supplying the global market.

The Independent UK

Russian oil cap begins, trying to pressure Putin on Ukraine

Western countries on Monday began imposing a $60-per-barrel price cap and ban on some types of Russian oil, part of new measures aimed at stepping up pressure against Moscow over its war on Ukraine

Reuters

Russia needs permission for its ships to probe Nord Stream ruptures - Novak

Russia needs permission for its vessels to conduct investigations into explosions that damaged Nord Stream pipelines in the Baltic Sea, Deputy Prime Minister Alexander Novak said on Friday.

WEKU

The White House accuses Saudi Arabia of aiding Russia and coercing OPEC oil producers

A major oil output cut by Saudi Arabia, Russia and other oil producers has drawn sharp accusations in Washington.

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