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

EU to curb Indian fuel imports made with Russian oil: Report

The EU’s foreign policy chief has called for a crackdown of Russian oil into Europe as refined fuel, including diesel.

Al Jazeera

Pro-Ukraine scholars call for much tougher sanctions on Russia

A group of pro-Ukrainian scholars has called for much tougher Western sanctions on Russia, including halving an oil price cap to $30 a barrel, imposing a full embargo on Russian steel, iron and diamonds and making it easier to confiscate Russian assets.

Reuters

Pakistan places first order for discounted Russian oil, joining major buyers India and China

Pakistan has become the latest Asian country to import Russia’s discounted crude oil, joining India and China which are importing heavily from Moscow following its invasion of Ukraine.

The Independent UK

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EU is still largest importer of Russian oil due to loophole in sanctions, report claims

EU and G7 ‘fail to lower the price cap to level that would truly deny Russia excess profits from oil exports’

The Independent UK

G7 Coalition to Keep Russian Oil Price Cap at $60

The Group of Seven (G7) coalition will keep a $60 per barrel price cap on seaborne Russian oil, a coalition official said, despite rising global crude prices and calls by some countries for a lower price cap to restrict Moscow's revenues. The G7 and Australia made the decision to maintain…

Asharq Al-Awsat

THG receives buyout proposal from private equity, FTSE 100 posts best run since December 2020 – as it happened

Rolling coverage of the latest economic and financial news, as UK’s blue-chip index heads for seventh day of gains in a row

The Guardian - UK

Russian oil exports back above pre-Ukraine war levels as India and China buy 90% of Moscow’s crude

Asian giants are buying 1.5 million barrels a day from Russia – each

The Independent UK

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The price cap on Russian oil seems to be working

Fresh signs that Russia's finances are in trouble.

Axios

Russia to Use Dubai Benchmark in Indian Oil Deal

Russia's largest oil producer Rosneft and India's top refiner Indian Oil Corp agreed to use the Dubai oil price benchmark in their latest deal to deliver Russian oil to India, three sources familiar with the matter said. The decision by the two state-controlled companies to abandon the Europe-dominated Brent benchmark…

Asharq Al-Awsat

Starting to sting? Putin denounces sanctions as oil revenues contract

Are those sanctions starting to bite? On the surface, it's business as usual for a Russia that on Saturday took over the rotating presidency of the UN Security Council and still enjoys plenty of support from the likes of China. But last week, President Vladimir Putin for the first time…

France 24

Energy analysts have been making gaseous calls since Russia invaded Ukraine. It's time to clear away the smoke of economic groupthink

Yale's Sonnenfeld and Tian call out a year of bad energy calls.

Fortune

Oil prices surge as Saudi Arabia leads shock production cuts

Analysts say move will help fill Russian president Vladimir Putin’s war coffers

The Independent UK

Saudis to cut oil production by 500,000 barrels per day

Saudi Arabia says it will cut oil production by 500,000 barrels per day from May until the end of 2023

The Independent UK

Factbox-EU keeps on doing business with Russia despite sanctions

With ten rounds of sanctions since Russia invaded Ukraine in February last year, the European Union has rolled out its toughest punishment ever against a foreign country.

Reuters

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Chicago Tribune

Editorial: Xi has been an apologist for Putin. Will he also be his lethal arms supplier?

For Ukraine, the war against Russia is existential. Defeat means extinction as a sovereign nation, and the destruction of Ukrainian identity.

The Times of India

Russia’s oil revenue drops sharply in February as sanctions bite: IEA

LONDON: Russia’s oil-export revenue fell to lowest in more than a year in February as buyers of the nation’s barrels largely complied with price caps and sanctions, according to the International Energy Agency.

The Independent UK

Russia's economy holds up, but growing challenges test Putin

Russia has weathered sweeping Western economic sanctions better than many expected

Bangkok Post

A year after the Ukraine invasion, oil market much changed

HOUSTON: A year after Russia's invasion of Ukraine, the oil market has become more fragmented and uncertain, a dynamic expected to boost crude prices over the long term.

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news in one place.

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Asharq Al-Awsat

Saudi Aramco Hikes Official Selling Prices of Arab Crude

Saudi Aramco has increased Official Selling Prices (OSPs) for April-loading crude to Asia, Europe, and America largely in line with expectations of oil demand recovery during the second quarter of 2023. For Aramco's key customer base in Asia, differentials for the flagship Arab Light grade were lifted to Platts Dubai/DME…

Tribune News Service

Russia is getting around sanctions to secure supply of key chips for war

Russia looks to be successfully working around European Union and Group of Seven sanctions to secure crucial semiconductors and other technologies for its war in Ukraine, according to a senior European diplomat.

The Independent UK

Lavrov says Russia will ‘no longer rely’ on West for energy trade as Moscow pivots to India and China

Russia and China ‘wanted to include Nord Stream sabotage issue in G20 communique’

StockNews.com

4 Leading Energy Stocks to Buy in 2023 and Beyond

Regardless of the retreat in oil and gas from their peaks almost a year ago, resurgent global energy demand amid constrained supplies appears to be enduring tailwinds for U.S. energy producers. Hence, it could be wise to invest in fundamentally sound energy stocks, Marathon Petroleum (MPC), Berry Corporation (BRY), Unit…

Al Jazeera

Europe leaps towards energy autonomy as sanctions undercut Russia

Moscow has waged an energy war against the EU over the past year, but the bloc appears to be holding firm.

Bangkok Post

Russian oil and gas revenue falls nearly 40%

STOCKHOLM: Russia’s revenues from oil and gas exports dropped by nearly 40% in January as price caps and Western sanctions squeezed the proceeds from Moscow’s most lucrative export, the International Energy Agency (IEA) said on Tuesday.

The Guardian - UK

EU states urge crackdown on Russia over sanctions-evading arms ploy

Moscow accused of attempting to source weapons parts through front companies in neighbouring states

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