Russia has started to make ship-to-ship (STS) transfers of diesel near African ports as it seeks transatlantic sales, according to traders and Refinitiv Eikon data. A full EU embargo on Russian oil products on Feb. 5 has boosted Russian diesel exports to Asia, Africa and the Middle East, with STS loadings in the Mediterranean helping … Read more
Officials of the Reserve Bank of India (RBI) and the Bank of Russia are set to meet this week to give the finishing touches to a bilateral payment system to ensure smooth trade flows between the two nations without violating global sanctions, people familiar with the matter told ET. Russia faces increasingly tighter sanctions after … Read more
Pressure on Europe to secure alternative gas supplies increased on Thursday as Moscow imposed sanctions on European subsidiaries of state-owned Gazprom a day after Ukraine stopped a major gas transit route. Gas prices surged, with the key European benchmark gaining 12% as buyers were unsettled by the mounting threats to Europe’s supply given its high … Read more
The United States, the European Union and several other countries and entities have expanded their economic sanctions against Russia as punishment for its invasion of Ukraine. The first actions in the most recent crisis were taken after President Vladimir Putin of Russia signed decrees Monday recognizing Donetsk and Luhansk, two pro-Russian breakaway regions in eastern … Read more