oil
Canada lowers price cap for Russian oil
The new price ceiling could mean a loss of up to $200 million in monthly income for Russia.
The EU has lowered the price “cap” for oil from Russia to less than $50 per barrel
On September 3, a new restriction on Russian oil came into effect in the European Union: the price “ceiling” was lowered from $60 to $47.6 per barrel.
Russian oil companies’ profits have collapsed
The main reasons were the decline in world oil prices and the strengthening of the ruble.
Lithuania calls on EU to seize Russian assets and tighten sanctions against Rosneft and shadow fleet
The country is proposing several legal mechanisms to launch this process and considers further delay unacceptable.
Germany and France have called for secondary sanctions against companies supporting Russia
Berlin and Paris are calling for tougher restrictions to cut off Moscow’s access to financing the war through third-party intermediaries.
Russian port of Ust-Luga to operate at half capacity in September due to shelling, media reports
Successful attacks by Ukrainian drones on Russian oil and gas infrastructure have caused a drop in export volumes from the port of Ust-Luga on the Baltic Sea.
Russia is increasing oil exports to compensate for the strikes on a number of its refineries
In August, Russia decided to increase crude oil shipments through Western ports. This was a forced step after attacks by Ukrainian drones.
India Cuts Russian Oil Purchases Under US Pressure — Bloomberg
India’s largest refiners, including Reliance Industries, plan to cut Russian oil imports by hundreds of thousands of barrels per day.
Ukraine has disabled 17% of Russian refineries, — Reuters
Ukrainian drone attacks have paralyzed part of Russia’s oil refining, causing disruptions to gasoline in the regions.
US criticizes India for purchasing Russian oil
India’s sharp increase in purchases of Russian oil after Russia’s invasion of Ukraine is “opportunistic and destructive,” White House trade adviser Peter Navarro said.
