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'US firms benefit from Hormuz closure': Russian oil company chief's big claim amid Iran war
Rosneft chief executive Igor Sechin on Saturday said American energy companies were the biggest beneficiaries of the closure of the Strait of Hormuz, while warning that prolonged disruption in the vital shipping route could ultimately undermine global oil demand and accelerate interest in alternative energy sources, as per Reuters. Speaking at the St. Petersburg International Economic Forum, Sechin argued that the closure of the strategic waterway, through which around one-fifth of global...
Ukraine-Russia war latest: Moscow car bomb kills Putin’s general overseeing ammunition supplies
Ukraine-Russia war latest: Moscow car bomb kills Putin’s general overseeing ammunition supplies Russian general Davydov was handling the defence ministry’s missile and artillery wing - Bookmark - CommentsGo to comments A general in charge of ammunition supplies for the Russian army has been killed in an attack in the Moscow region, officials said. Damir Davydov, the head of the Russian defence ministry’s missile and artillery wing, was reportedly killed in a car explosion in Balashikha. The...
For first time, Russia admits oil production has declined amid Ukraine's attacks on refineries
Russia, for the first time, has publicly acknowledged a dip in its oil production this year, even as it assured that the country was continuously stepping up its “export infrastructure to its maximum capacity.” Speaking to reporters at the St Petersburg International Economic Forum on Thursday, deputy Prime Minister Alexander Novak said that current output was lower than at the start of the year because a number of refineries were undergoing unscheduled repairs. His remarks mark the first...
Ukraine launches large-scale drone attack as Putin meets Schröder
Ukraine's President Volodymyr Zelensky said "it is time to end this war" after confirming he had ordered the strike on Russian targets, including naval and energy sites across the west of the country. Residents of St. Petersburg were told not to leave their homes after a large-scale Ukrainian drone attack that also targeted areas from the Black Sea to central Russia. Russia said it had intercepted hundreds of the drones, including those headed for Saint Petersburg, where it is hosting a...
EU proposes freezing Russian oil price cap to prevent windfall for Kremlin’s war chest
BRUSSELS — The EU will propose freezing the adjustment mechanism in its oil price cap on Russian crude to prevent it from rising with global benchmarks, European Commission President Ursula von der Leyen said on Tuesday. That would stop Russia from benefiting from the rise in oil prices resulting from Iran’s closure of the Strait of Hormuz. Presenting the EU’s 21st package of sanctions on Russia, Von der Leyen explained that “our oil price cap has a built-in adjustment mechanism to...
Ukraine hits Russian energy targets, denies striking Zaporizhzhia nuclear plant
Ukraine hits Russian energy targets, denies striking Zaporizhzhia nuclear plant Ukrainian drones struck targets across several Russian regions overnight from Saturday, including an oil pumping station, a refinery and a fuel depot, Russian and Ukrainian authorities said Sunday. Kyiv however denied Moscow's claims that a Ukrainian drone struck the Zaporizhzhia nuclear plant in Russian-occupied Ukraine. Ukraine denied Moscow's claims on Sunday that a Ukrainian drone struck the...
Ukraine-Russia war latest: Belarus leader issues ominous threat to Zelensky over ‘one major target’
Ukraine-Russia war latest: Belarus leader issues ominous threat to Zelensky over ‘one major target’ Lukashenko says he knows the Ukrainian military 'does not want any war with Belarus' - Bookmark - CommentsGo to comments Russia forcing country’s stolen children to fight, says Zelensky Volodymyr Zelensky has accused Russia of abducting Ukrainian children and training them to fight against their own country. In an interview with CBS’s Face the Nation yesterday, the Ukrainian president claimed...
Ukrainian drones strike Sevastopol museum and key Russian oil refineries
Ukrainian drones strike Sevastopol museum and key Russian oil refineries The multiday campaign has killed a rail worker, closed the bombed Chongar road bridge and caused a fuel crisis. Ukrainian drones have struck a historic museum in Russia-annexed Sevastopol in Crimea, igniting a roof fire, as Russian authorities slashed nighttime train schedules amid intensifying air attacks across the peninsula and deep into Russia. Sevastopol’s Russian-installed governor, Mikhail Razvozhayev, announced...
Russia launches fresh strikes on Ukraine, Kyiv hits refinery hub
In response to Russian shelling of Ukrainian territory, Ukrainian forces launched a series of powerful strikes on strategically important Russian oil infrastructure. Russian forces launched a new series of air strikes on Ukraine on Sunday night, attacking its territory with more than 200 attack and decoy drones. Most of them were shot down, the AFU Air Force said (source in Russian), but 14 drones were recorded hitting 11 locations.
Russian crude here to stay? Why India-US energy ties may be more about LPG, LNG than oil
US President Donald Trump announced in February that India would stop buying Russian crude oil and step up energy ties with the United States of America. Four months after that, India’s Russian oil imports are near record highs and the US still doesn’t feature among India’s top five crude suppliers. But notably, India has stepped up LPG and LNG imports.