oil

Falling oil prices hit Moscow’s war chest

Russia's oil revenues, a key source of funding its war effort against Ukraine, fell for the second month in a row amid lower prices for the country's crude, Bloomberg reported on Dec. 4, citing Finance Ministry data released the same day.

5 December 2024, 03:00 PM

UK expands sanctions targeting Russia’s ‘shadow fleet’ of oil tankers

The United Kingdom introduced a new sanctions package, marking its most extensive effort against Russia's 'shadow fleet,' which has transported oil and petroleum products worth billions of dollars over the past year.

25 November 2024, 10:03 PM

Will lower oil prices help defeat the Kremlin — opinion

Oil exports are one of the key revenue sources for the Russian budget, especially in the context of the prolonged war against Ukraine. Following the full-scale invasion, the international community began actively imposing sanctions to weaken the financial inflow into the Russian economy.

8 November 2024, 10:00 PM

Russian oil prices fall below $60 per barrel for first time in 2024

In September, a drop in global oil prices pushed Brent crude to its lowest level since late 2021, which also reduced the value of Russian Urals crude and hurt oil company revenues. At the start of the week, the price of Russian oil at Baltic Sea ports fell below $60 per barrel for the first time this year, reports Bloomberg.

15 September 2024, 12:17 PM

After agreement with MOL, Russian Lukoil resumes oil supply to Hungary and Slovakia

Russian company Lukoil plans to resume oil supplies via the Druzhba pipeline to Slovakia and Hungary, following Hungarian MOL’s announcement of the unblocking of crude oil transportation through Belarus and Ukraine.

11 September 2024, 02:49 PM

Russian Defense Ministry claims 158 drones targeted 15 oblasts

The Russian Defense Ministry claims that 158 drones were intercepted during an attack on 15 Russian oblasts in the early hours of Sept.1. However, various social media channels are showing numerous videos of successful drone strikes within Russian territory.

1 September 2024, 02:32 PM

Fire at Moscow oil refinery assigned highest difficulty level after drone attack — Russian media

A large-scale fire broke out at the Moscow Oil Refinery after a Sept. 1 drone attack, according to Russian propaganda media, which cited emergency services.

1 September 2024, 10:14 AM

Gazprom's profits soar to $11.4 billion in first half of 2024

Gazprom, the Russian energy giant, reported a net profit of 1.04 trillion rubles ($11.4 billion) for the first half of 2024, according to international financial reporting standards, news agency Interfax reported on Aug. 29.

30 August 2024, 12:24 PM

HUR and Special Operations Forces strike oil depot in Russia’s Rostov Oblast supplying fuel to Russian troops

Ukrainian drones operated by the military from the Main Intelligence Directorate (HUR) and Special Operations Forces have struck the Atlas oil depot near Kamensk-Shakhtinsky in Russia’s Rostov Oblast, sources told NV on Aug. 28.

28 August 2024, 12:28 PM

Zelenskyy urges India to halt Russian oil imports

If India’s government stops importing oil from Russia, the regime of dictator Vladimir Putin will lose billions, Ukrainian President Volodymyr Zelenskyy said in an interview published on Aug. 25 by Indian media.

25 August 2024, 05:25 PM

Fuel prices set to rise amid excise tax hike

Starting Sept. 1, 2024, traders anticipate an increase in the price of autogas due to the expected signing of Bill No. 11256-2, which proposes raising excise taxes on fuel, by Verkhovna Rada Chairman Ruslan Stefanchuk and President Volodymyr Zelenskyy.

22 August 2024, 02:52 PM

Western companies insure Russian oil tankers defying G7 sanctions

Western insurance companies have been providing coverage for Russian oil tankers, despite G7 price caps and sanctions aimed at reducing Russia's ability to finance its war in Ukraine, Reuters reported on Aug. 8.

8 August 2024, 04:24 PM

Hungary and Slovakia are urged to find alternatives to Russian oil

The European Commission rejects complaints that Ukrainian sanctions against the Russian company Lukoil threaten the security of EU supplies, the Financial Times reported on Aug. 1.

2 August 2024, 07:17 PM

Slovak PM threatens to block diesel supplies to Ukraine amid Ukrainian sanctions on Russian Lukoil

Slovakia will not supply Ukraine with diesel fuel unless Kyiv resumes the transit of Russian oil from Lukoil, the country’s Prime Minister Robert Fico said on Facebook on July 29.

30 July 2024, 12:46 PM

Hungary threatens to block EU aid over Ukraine's Russian oil transit ban

Budapest has threatened to block the disbursement of €6.5 billion ($7 billion) to Ukraine from the European Peace Facility if Kyiv does not lift the ban on the transit of Russian oil through Ukrainian territory, Hungarian Foreign Minister Péter Szijjártó said, according to Hungarian TV channel ATV on July 23.

24 July 2024, 05:45 PM

Hungary accuses Ukraine of violating EU Association Agreement

Ukraine's decision to block the transit of Lukoil's Russian oil to Hungary and Slovakia "is a clear violation of the Association Agreement with the EU," Hungarian Foreign Minister Péter Szijjártó said at a press conference in Brussels on July 22.

23 July 2024, 11:27 AM

Berlin looks to tackle Russia’s ‘shadow fleet’

Germany and the rest of the EU plan to implement further steps to counter Moscow’s "shadow fleet" of tankers circumventing Western restrictions on Russian oil exports, German Chancellor Olaf Scholz announced on July 18.

19 July 2024, 01:11 AM

UK sanctions 11 tankers carrying Russian oil

The UK government has expanded its sanctions list to include 11 vessels transporting Russian oil in breach of existing Western restrictions, Reuters reported on July 18.

18 July 2024, 10:51 PM

EU and Britain to fight Russian 'shadow fleet' of oil tankers

The United Kingdom plans to call on several European countries to take action against the so-called "shadow fleet" of oil tankers used by Russia to circumvent international sanctions, Bloomberg reported on July 15.

16 July 2024, 10:39 AM

India and Russia discuss long-term oil import deal

India's state-owned oil refineries are holding joint talks with Russia on a long-term oil import deal, though the countries have yet to finalize terms, including the currency of payment for imports, Reuters reported, citing a government source on July 11.

12 July 2024, 11:40 AM

oil

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