Oil prices climbing fast as G7 cap of £49 on Russian crude barrel comes into effect December 5, 2022 Oil prices have risen in response to an agreement by the G7 group of nations which came into effect on Monday. Brent crude climbed to more than 86 dollars (£68) in Asia trading as the price of Russian oil was capped at 60 dollars (£49) a barrel. The move is part of increased pressure by [...]
Japan will keep hold of Russian LNG stake March 31, 2022 Japan will not abandon its stake in the Sakhalin-2 LNG project in Russia, which the prime minister argued is key for energy security.
Britain launches £75m nuclear fuel fund in renewed bid to wean UK off Russian energy January 2, 2023 The UK will continue to wean itself off dependence on Russian energy by ramping up nuclear fuel investment by £75m a year. Minister of State for Energy and Climate Graham Stuart announced the increase as the Kremlin’s war against Kyiv moves into 2023, and Europe looks to further isolate Moscow. The government will back nuclear [...]
German households braced for heavy levy as country counts cost of Russian squeeze August 15, 2022 German households will suffer the heavy price of a Russian supply squeeze on European gas flow, with a new levy on their energy bills.
Credit Suisse sued over links with Russian oligarchs May 3, 2022 New York law firm Pomerantz has filed a class action lawsuit against Credit Suisse, over claims the Swiss bank misled investors as to its dealings with Russian oligarchs. The lawsuit comes after shares in Credit Suisse dropped 2.58 per cent on 28 March, in response to reports claiming the investment bank has carried out extensive [...]
Russian economy shrinks by four per cent due to impacts of Western sanctions August 13, 2022 The Russian is now four per cent smaller than it was a year ago, according to new figures from the country’s state statistics agency. Russia’s gross domestic product (GDP) for Q2 2022 equals a sum equivalent to 96 per cent the value of the country’s economy in Q2 2021, the preliminary Rosstat statistics show. The [...]
Oil markets sustain rally as EU commits to Russian embargo May 31, 2022 Oil prices continued to rise today, after the EU finally agreed to a phased and watered down ban on Russian crude imports.
Total severs Russian oil supply contracts March 22, 2022 French oil giant TotalEnergies said it would cut off the Russian gasoil and crude oil supply contracts for its German refinery today.
EU unable to reach consensus on Russian oil embargo April 25, 2022 The EU remains unable to reach a consensus for a complete embargo or punitive tariff on Russian oil and gas imports.
G7 weighs up proposals to block transport of Russian oil supplies August 2, 2022 The G7 is considering plans to block the transporting of Russian oil unless it heeds a price cap, amid a supply crunch in Europe.