oil

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.

Oil prices hit their lowest level in two weeks after Israel agreed to US President Donald Trump’s ceasefire offer with Iran.

The US attack on Iran and the subsequent possible developments could cause oil prices to soar to $80/barrel or higher.

EU to scrap proposals to cap Russian oil at $45/barrel due to Israel-Iran conflict