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The Latest Breaking News on US imposes new sanctions over Russian oil price cap violations, Kremlin influence in the Balkans

US imposes new sanctions over Russian oil price cap violations, Kremlin influence in the Balkans

The U.S. Treasury has levied a new round of sanctions on firms and ships that used U.S. service providers to carry Russian crude oil in violation of the multinational price cap — and imposed another set of sanctions on a group of Balkan people and firms tied to Kremlin influence…

The Independent UK

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

Western sanctions haven't curbed Russian oil profits, but the green energy transition could

Western sanctions that put a price cap on Russian oil exports from December 2022 aimed to cause the country significant economic pain after its invasion of Ukraine last year. The idea was to curtail the amount Russia makes from its oil while ensuring it continues to flow into the global…

The Conversation

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Empire building has always come at an economic cost for Russia – from the days of the czars to Putin's Ukraine invasion

President Vladimir Putin’s invasion of Ukraine has come at huge economic costs. By conservative estimates, the Russian economy has taken a US$67 billion annual hit as a result of war expenses and the effects of economic sanctions. In the early stages of the invasion, some analysts put the costs even…

The Conversation

The US government sanctions two shipping companies for violating the Russian oil price cap

The Treasury Department has imposed its first set of sanctions on two companies that shipped Russian oil in violation of a multinational price cap

The Independent UK

Russia and Saudi Arabia to continue oil price pact despite Middle East crisis

Vladimir Putin says withholding oil will ‘most likely’ continue despite Israel-Hamas war pushing crude towards $100 a barrel

The Guardian - UK

Russia still relies on Europe to ship its oil despite price cap breach

Russia is still relying on European shipping to transport its oil even as the country’s supplies exceed Group-of-Seven price caps, according to a researcher.

The Times of India

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Russia appears to have found a way to circumvent $60/barrel price cap sanction on crude oil exports

Shipping and insurance records examined by the Financial Times suggest almost three-quarters of Russia's seaborne crude can be sold at full price just when a barrel is nearing $100.

Fortune

Russian oil supplies continue to spike despite G7 price cap sanctions, data shows

Russia’s oil revenues likely to increase due to constant increases in crude prices, show estimates

The Independent UK

Putin’s war machine risks running out of fuel, so Russia is banning the export of gasoline and diesel

The Russian leader has attempted to shield the worst effects of the war from his countrymen, but prices for the fuels have been reaching record levels domestically.

Fortune

New US sanctions target workarounds that let Russia get Western tech for war

The United States is sanctioning more than 150 businesses and individuals as it tries to crack down on evasion and deny Russia access to technology, money and financial channels that fuel Moscow's war in Ukraine

The Independent UK

A winter energy crunch in Europe looks a distinct possibility

Russia’s invasion of Ukraine imposed a sudden energy shock on Europe 18 months ago. Faced with the prospect of much less Russian gas, there were fears that Europe’s energy infrastructure would not cope with winter 2022-23, causing economies to crumble.

The Conversation

Russia’s ruble has tumbled. What does it mean for the wartime economy?

The Russian ruble has fallen a long way in recent months, and the country's central bank is stepping in to halt the slide

The Independent UK

Russia's ruble has tumbled. What does it mean for the wartime economy?

The Russian ruble has fallen a long way in recent months, and the country's central bank is stepping in to halt the slide

The Independent UK

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Barchart

Crude Oil Rallies on Concern About Escalation in the Russia-Ukraine War

September WTI crude oil (CLU23 ) on Tuesday closed up +0.98 (+1.20%), and Sep RBOB gasoline (RBU23 ) closed up +4.07 (+1.45%). Crude oil and gasoline prices Tuesday shook off early losses and closed moderately higher on concerns about disruptions to Russian crude supplies. Ukraine President Zelensky said his country...

Zenger

Oil Prices Rise Amid Russian Political Turmoil

Investors weigh impact of attempted mutiny against Putin while global slowdown concerns persist.

The Times of India

Russian oil: Trade headaches for India as crude prices hit $60

NEW DELHI: A top buyer of Russian oil is bracing for trading trouble as the price of Urals, the country’s main export grade, breaks through a $60-a-barrel cap set by Western nations to curb Moscow’s revenue.

The Independent UK

UK accuses Russia of ‘cynical brinkmanship’ over Ukraine grain deal threat

Ambassador Dame Barbara Woodward said that, without an accord in place, ships carrying food to famine-risk countries could be attacked by Russia.

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The Hindu

Russia oil discount to India shrinks to $4, delivery charges remain opaque

The steep discounts on Russia crude oil that India gorged on since the Ukraine war, have plunged but the shipping rates charged by Russia-arranged entities continues to remain ‘opaque’ and higher than normal

The Times of India

India is starting to reach the limits of its Russian oil splurge

MUMBAI: From an island fort outside the heart of historic Mumbai, visitors can spot giant oil tankers unloading their cargoes to two refineries on the city’s southeastern coast.

Bangkok Post

Chinese imports of Russian oil at post-invasion high

BEIJING: Chinese imports of Russian oil last month hit their highest level since Moscow's February 2022 invasion of Ukraine, customs data showed Tuesday, as Beijing offers an economic lifeline to an increasingly isolated Kremlin.

The Independent UK

US says price caps on Russia's oil are cutting revenue nearly in half and weakening its economy

When the Group of Seven nations, the European Union and Australia last year announced a plan to cap the price of Russian oil, U.S. officials said it would deliver a most effective blow to Russia’s economy, undermining its greatest revenue source

Evening Standard

New wave of sanctions will ensure pain for Vladimir Putin, vows Rishi Sunak

Rishi Sunak ‘hopeful and confident that our partner countries will follow’ in taking stand against Russia

The Independent UK

Britain says Russia will ‘pay the price’ for Ukraine invasion as fresh wave of sanctions unveiled

The prime minister launched a new wave of sanctions against Vladimir Putin as he warned that Western leaders are ‘not going away’

The Independent UK

Putin clashes with own finance minister over damage done to Russian economy by oil sanctions

Putin appears to downplay Anton Siluanov’s concerns by saying the situation is ‘absolutely stable’

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