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

No economic 'knockout' yet from West's sanctions on Russia

One month into the invasion of Ukraine, President Joe Biden declared that sanctions against Russia had rendered the ruble almost immediately “to rubble.”

The Independent UK

Treasury deputy: Russia sanctions are degrading its military

A top Treasury Department official says Russia’s mounting battlefield losses are a testament to the effectiveness of U.S. and allied sanctions on the Kremlin and its military machine

The Independent UK

War economy

The world's economy and businesses have suffered from the Russia-Ukraine war over the past year, hamstrung by high energy prices, inflationary pressure and logistics disruptions.

Bangkok Post

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US plans new Russia export controls, sanctions on key industries

WASHINGTON — President Joe Biden’s administration is planning to impose new export controls and a fresh round of sanctions on Russia, targeting key industries a year after Vladimir Putin started his invasion of Ukraine.

Tribune News Service

Shell and Vitol accused of prolonging Ukraine war with sanctions ‘loophole’

Exclusive: Ukrainian economic adviser urges energy firms to heed deadline to halt trade of ‘Russian-origin oil products’

The Guardian - UK

Year of war in Ukraine left developing nations picking up pieces

Some of the harshest economic effects of the war are being felt much farther afield than Russia’s theatre of battle.

Al Jazeera

The war in Ukraine hasn't left Europe freezing in the dark, but it has caused energy crises in unexpected places

Through a year of war in Ukraine, the U.S. and most European nations have worked to help counter Russia, in supporting Ukraine both with armaments and in world energy markets. Russia was Europe’s main energy supplier when it invaded Ukraine, and President Vladimir Putin threatened to leave Europeans to freeze…

The Conversation

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3 Energy Stocks to Energize Your Portfolio

Resurgent global energy demand amid constrained supplies has created tailwinds for U.S. energy producers. Hence, it could be wise to invest in fundamentally strong energy stocks, Valero Energy (VLO), Marathon Petroleum (MPC), and Unit Corporation (UNTC), to make hay while the sun shines. Read on….

StockNews.com

The 2 Best Energy Stocks to Invest in Right Now

The energy sector is poised to witness solid growth in the near term amid improved demand from the Chinese economy. In addition, owing to the onset of the EU embargo on Russian oil imports, prices could increase. Against this backdrop, it might be wise to invest in quality energy stocks…

StockNews.com

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

The Independent UK

Ukraine ‘can count on France to win this war’, Macron tells Zelensky in Paris

President Emmanuel Macron said France would stand firmly by Ukraine in its war against Russia as he stood alongside Ukrainian President Volodomyr Zelensky and German Chancellor Olaf Scholz at the Élysée presidential palace in Paris. The Ukrainian leader’s visit comes hours after he addressed a joint session of the British…

France 24

European Union bans Russian diesel, oil products over Ukraine

Move comes after the bloc found new supplies of diesel from the US, Middle East and India to replace Russian energy.

Al Jazeera

Europe bans Russian diesel, other oil products over Ukraine

The European Union is launching its ban on imports of Russian diesel fuel

The Independent UK

The EU’s ban on Russian diesel won’t really stop fuel flows

For decades, a steady stream of ocean tankers has filed back and forth between a small cluster of ports in northwest Europe and the Baltic Sea. Typically, each would bring about 40 million liters of diesel to help keep Europe’s economy humming. Starting Sunday, that will be banned — along…

Tribune News Service

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France 24

Russia putting 'more and more forces' into Donbas battle, says Zelensky

Ukraine's Volodymyr Zelensky said the situation on the front lines in the east of the country was getting tougher, with Russia throwing more and more troops into battle, hours after the two sides agreed to exchange dozens of prisoners of war. Earlier on Saturday, Ukrainian officials said a serious accident…

Tribune News Service

G-7, EU set $100 price cap on Russian diesel as import ban looms

The Group of Seven nations and the European Union member states have agreed to impose a cap of $100 per barrel on sales of Russian diesel to third countries as part of an effort to limit Moscow’s revenues.

The Independent UK

Europe reaches deal for price cap on Russian diesel

European Union governments have agreed to set a $100-per-barrel price cap on sales of Russian diesel to coincide with an EU embargo on the fuel

WEKU

Europe is set to ban Russian oil products, the latest strike on the Kremlin war chest

Starting Sunday, the EU will prohibit imports of Russian gasoline, diesel and other products from Russian refineries used throughout Europe.

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The News Lens

How China’s Yuan Props up Putin’s Anemic Budget

Russia has started selling its growing reserves of the Chinese currency to fill a budget deficit caused by falling oil and gas revenues and the costs of war.

The Independent UK

Will Europe's ban on Russian diesel hike global fuel prices?

Europe is cutting more energy ties with Russia

Tribune News Service

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.

WEKU

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."

Reuters

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.

The Guardian - UK

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

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