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

The U.S. has thwarted Putin’s energy blackmail. Europe says ‘Tanks a lot!’

With European storage full and futures falling, energy alarmists are the only ones running out of gas, write Yale's Sonnenfeld and Tian.

Fortune

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

The Independent UK

Putin’s budget faces 'catastrophe' after price cap spells doom for Russian oil exports

Nearly a year after Russia invaded Ukraine, the Kremlin risks a massive revenue shortfall as the price of each barrel of oil it can sell on the world market falls dramatically.

Fortune

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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.

Reuters

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.

Tribune News Service

Poland ready for Russian oil ban, says minister

Poland is prepared for a Russian ban on oil sales to countries implementing a price cap, the climate minister said on Thursday, with the country having cut its intake of Russian crude and secured alternative supplies from producers such as Saudi Arabia.

Reuters

Ukraine news – live: No place in Bakhmut ‘not covered with blood’, says Zelensky

Vladimir Putin’s forces increasingly diminished at epicentre of fighting in Donbas, analysts believe

The Independent UK

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Oil Prices Little Changed as Russia Unveils Export Ban

Russia on Tuesday banned oil sales to countries and companies that comply with a price cap agreed by Western nations, briefly helping to lift crude prices. "The supply of Russian oil and oil products to foreign legal entities and individuals is prohibited if the contracts for these supplies directly or…

Asharq Al-Awsat

Russia bans supply of oil to nations participating in Western price cap

Russian ban will come into force on 1 February 2023 and lasts until 1 July

The Independent UK

Russia bans oil sales to nations, firms complying with price cap

Moscow’s response to the Western price cap is to stop supplying crude oil and oil products from February 1.

Al Jazeera

Putin's energy blackmail plan could backfire on Russia's economy

Putin has tried using energy as a weapon against the West this year, but he risks going too far.

Fortune

Putin Bans Russian Oil Exports to Countries That Imposed Price Cap

President Vladimir Putin on Tuesday delivered Russia's long-awaited response to a Western price cap, signing a decree that bans the supply of crude oil and oil products from Feb. 1 for five months to nations that impose the cap. The Group of Seven major powers, the European Union and Australia…

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…

Asharq Al-Awsat

Oil Rises $1 on Russian Supply Worries; US Storm Impact in Focus

Oil prices rose more than $1 on Friday on expectations of a drop in Russian crude supply, which helped offset worries of a hit to US transport fuel demand growth as a looming Arctic storm threatens travel during the holiday season. Brent crude was up by 73 cents, or 0.9%,…

Asharq Al-Awsat

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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…

Bangkok Post

Crude oil prices continue to fluctuate due to the protracted Russia-Ukraine war and Russian oil price cap

Global political and economic directions shifted as soon as Russian President Vladimir Putin ordered the invasion of Ukraine under a “special operations” mission on 24 February 2022.

Fortune

Top energy historian says oil prices could go anywhere next year, it all depends on 3 factors

It's anyone's guess where oil prices go next year, but these three factors are likely to be critical.

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news in one place.

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Asharq Al-Awsat

Saudi Oil Exports Hit 30-Month High in October

Saudi Arabia’s crude oil exports rose for a fifth straight month in October to the highest in 30 months, the International Energy Forum (IEF) said on Monday, citing data from the Joint Organizations Data Initiative (JODI). Crude exports rose about 0.7% to 7.773 million barrels per day (bpd) in October,…

Foreign Policy

Why the Oil Price Cap Won’t Hurt Putin

The West wants to have its Russian oil price cake and eat it too.

The Guardian - UK

Russian oil revenues fall in November despite production boost

Decline seen as evidence that western efforts to choke off the Kremlin’s earnings are working

Zenger

Will Putin Adhere To G7 Price Cap? EU To Face Tough Year Filling Oil, Gas Reserves

Until the Russia-Ukraine War, the European Union (EU) relied on Russia for roughly close to 40% for natural gas supply.

Reuters

Russia's logistic logjam worsens in winter, curbs coal exports to China

Infrastructure bottlenecks in Russia worsened with the winter season as rising demand for Asia-bound cargoes amid European sanctions on Moscow led to rail jams and worsened prospects for coal sales to China, according to data and market sources.

Tribune News Service

Yellen says US aid to Ukraine can go on ‘as long as it takes’

Treasury Secretary Janet Yellen signaled the Biden administration is prepared to continue seeking billions of dollars in aid for Ukraine as the Eastern European country battles Russia’s invasion and missile attacks.

Al Jazeera

Putin threatens oil production cuts over price cap

President says future prisoner swaps with US are possible and Russia’s hypersonic weapons would defend it if attacked.

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