Tag: Russia

The European Commission is to propose lowering the Russian oil price cap and banning the use of Nord Stream infrastructure as part of a fresh round of sanctions against Moscow, the Financial Times reported on Tuesday.

Russia’s oil exports remained near a four-month high ahead of talks between President Vladimir Putin and US counterpart Donald Trump aimed at bringing a halt to the war in Ukraine.

Oil advanced as the US tightened sanctions against Iran and Russia, countering some of the slump triggered by a dour demand forecast from the International Energy Agency on Thursday.

Global diesel prices and refining margins spiked following the latest round of U.S. sanctions on Russia’s oil trade on expectations the measures would tighten supplies, according to analysts and LSEG data.

The U.S. has finalized a ban on the use of Chinese and Russian hardware and software in internet-connected vehicles on U.S. roads, an outgoing salvo by the Biden administration to prevent hacking and misuse of data by foreign adversaries.

The Biden administration is weighing new, harsher sanctions against Russia’s lucrative oil trade, seeking to tighten the squeeze on the Kremlin’s war machine just weeks before Donald Trump to the White House.

Russia is preparing to lift its gasoline exports ban and the necessary paperwork will be ready in near future, Deputy Prime Minister Alexander Novak told reporters on Friday without providing a concrete timeline.

Oil rose on Monday after top exporters Saudi Arabia and Russia announced supply cuts for August, overshadowing concern over a global economic slowdown and the potential for further increases to U.S. interest rates.

(Bloomberg) — The US has sanctioned some of Russia’s biggest gold miners, as it imposes fresh penalties on the country’s metals and mining sector.