oil

The European Union has agreed with the United States on large-scale purchases of LNG, oil and nuclear fuel to reduce dependence on Russia.

Foreign oil tankers have been temporarily banned from loading at Russia’s main Black Sea ports.

Energy Secretary Chris Wright called sanctions against Russian oil a “very real opportunity” to stop the war.

Polish oil producers are asking the Polish government to lift the embargo on Ukrainian rapeseed imports due to a shortage of their own.

The European Union has approved the 18th package of sanctions against Russia. The EU called it “one of the toughest ever.”

Archival data of the captain of the tanker Sable indicate systematic evasion of sanctions and involvement in reconnaissance and sabotage activities.

Estonia has said it may block the 18th EU sanctions package if it does not include new restrictions on oil shipments from Russia.

The sanctions package provides for a 500% tariff on imports from countries that purchase Russian oil, gas or uranium.

Another drop in oil revenues is hitting Russia’s budget stability, which is already teetering on the brink due to the costs of the war in Ukraine.

The price of Urals oil in Russian ports has fallen below the “price ceiling” of $60/barrel set by Western countries.