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The Latest Breaking News on How Russia dodges oil sanctions on an industrial scale

How Russia dodges oil sanctions on an industrial scale

As another embargo looms, the grey trade is about to explode

Livemint

Upstart Indian shipper helps get Russian oil to market

Gatik Ship Management, which took control of 25 tankers after the invasion of Ukraine, now shuttles Russian crude along new trade routes

Livemint

Russian oil exports to India may hit new highs as interest grows

Russian fuel oil flows to India have also surged, almost doubling month-on-month in December to more than 137,000 barrels a day, according to data from Kpler

Livemint

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Europe faces an enduring crisis of energy and geopolitics

This will weaken it and threaten its global position

Livemint

Russian Oil Switching at Sea Gathers Pace in Wake of European Sanctions

Russia is transferring record amounts of its flagship Urals crude at sea as Moscow tries to overcome freight costs that soared following European sanctions.

Bloomberg

India's crude imports hit 5-month high in December on cheap Russian supply

Crude imports for the month were up 2.7% from November at 19.52 million tonnes, according to data from the Petroleum Planning and Analysis Cell. On a yearly basis, imports were down 0.7% in December

Livemint

As Putin’s energy might ebbs, the world economy no longer needs Russia

With alternative sources in place, Russian President Vladimir Putin’s attempt at blackmailing Europe on energy has failed.

Crikey

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Yellen sees success in extending Russia price cap, despite risks

U.S. Treasury Secretary Janet Yellen expressed confidence that restrictions on Russian sales of crude oil can be expanded to refined petroleum products in February, while acknowledging that the task will be more complicated.

Tribune News Service

Russia has amassed a shadow fleet to ship its oil around sanctions

Russia would have to use tankers willing to get around sanctions to ship its crude to Asia. It's known in the oil industry as a "shadow fleet."

WEKU

G7 agrees to review level of price cap on Russian oil in March -US Treasury

Group of Seven officials have agreed to review the level of the price cap on exports of Russian oil in March, U.S. Treasury Deputy Secretary Wally Adeyemo said on Friday.

Reuters

Yellen says Russian oil price cap could save African countries $6 billion annually

Russia's war in Ukraine is hitting Africans particularly hard by exacerbating food insecurity and putting an unnecessary drag on the continent's economy, U.S. Treasury Secretary Janet Yellen said in Senegal's capital Dakar on Friday.

Reuters

Davos day 4: IMF’s Georgieva says economic outlook ‘less bad’ than feared; Russia heading for ‘incredible poverty’ – as it happened

Rolling coverage of the final day of the World Economic Forum

The Guardian - UK

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.

Reuters

EU facing huge logistical upheaval as sanctions on Russian diesel loom

An unprecedented chunk of the global diesel market, the workhorse fuel of the global economy, is just weeks away from being subject to aggressive sanctions.

Irish Independent

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Bloomberg

Huge Sanctions Are Looming for the Fuel That Powers the World

An unprecedented chunk of the global diesel market, the workhorse fuel of the global economy, is just weeks away from being subject to aggressive sanctions.

Livemint

Where will Europe get its diesel from in 23 days’ time?

In just over three weeks, seaborne deliveries of diesel from the European Union’s single biggest external supplier will be all but banned.

Reuters

Russia may hike taxes as military spending, oil price weigh on budget

Russia is becoming too dependent on oil revenues to support its budget as it ramps up military spending, economists said, warning that the government may have to raise taxes if prices of crude fail to meet expectations this year.

Reuters

Poland, Lithuania want lower Russian oil cap, nuclear curbs in new EU sanctions

Poland and Lithuania want to lower the price cap on Russian oil, and target Russia's nuclear sector under new European Union sanctions against Moscow and Minsk for the war in Ukraine, senior diplomats from the two EU countries said on Friday.

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Irish Independent

G7 oil price cap costs Russian president Vladimir Putin's regime €160m per day

The price cap on Russian oil imposed by the G7 group of nations is costing the Kremlin about € 160m a day.

The Independent UK

Report: Oil price cap takes small slice of Russia war chest

Russia's still making plenty of money from oil sales despite a price cap imposed by the Group of Seven major democracies

Bloomberg

Oil Cap Costs Russia $170 Million a Day, Researcher Says

The price cap on Russian oil is costing the Kremlin €160 million ($172 million) a day, as the West tries to hobble Moscow’s war machine, a Finnish researcher said.

Reuters

G7 seeks two price caps for Russian oil products

The Group of Seven (G7) coalition will seek to set two price caps on Russian refined products in February, one for products trading at a premium to crude oil and the other for those trading at a discount, a G7 official said.

Tribune News Service

Putin’s energy gambit fizzles as warm winter saves Europe

Russian President Vladimir Putin’s plans to squeeze Europe by weaponizing energy look to be fizzling, at least for now.

The Street

Oil Prices to Continue Rebound in 2023, Experts Say

Crude-oil prices will continue to increase in 2023 but could be volatile as Russia's actions remain unclear.

Livemint

Will never sign into what others have cooked up: Jaishankar on price cap for Russian oil

On the imposition of a price cap on Russian oil, the minister described it as a decision of Western nations, which was taken without any consultations with India

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