Lukoil, a Russian oil company, says it will sell its international assets in response to Western sanctions
Lukoil - Russia's second largest oil producer - announced on Monday that it will sell its international assets in response to sanctions imposed by the United States last week over Ukraine. The sale of assets will be the biggest action taken by a Russian firm in response to Western sanctions over Russia’s war in Ukraine that began in February 2022. The sale of assets is being conducted under an OFAC wind-down license. Lukoil stated that if necessary…
Next week, Orban will meet with Trump to discuss oil sanctions
Peter Szijjarto, the Foreign Minister of Hungary, said that Viktor Orban would discuss U.S. Sanctions on Russian Oil Companies and other topics when he meets Donald Trump next week in Washington. Trump, an ally of Hungary's leader, has imposed sanctions against Russia for the very first time during his second term. He targeted Rosneft and Lukoil, in order to press Moscow into a ceasefire agreement in Ukraine. Trump's decision has raised questions for Hungary…
Urals Shipping Rates to India Rise in October
Freight rates for shipping Urals crude from Russia’s western ports to India rose sharply in October, driven by strong export volumes and mounting sanctions pressure, industry sources told Reuters.U.S. President Donald Trump on Wednesday imposed further sanctions on Russia's two largest oil producers, Lukoil and Rosneft.On the same day, the European Union approved its 19th package of sanctions against Moscow.
After US sanctions, Bulgaria takes measures to protect its Lukoil refinery
Zhecho Stankov, Bulgaria's Energy Minister, said that the country is taking steps to ensure an uninterrupted supply of oil and derivatives following the U.S. sanctions imposed on Russia's Lukoil which operates the largest oil refinery in the country. U.S. president Donald Trump imposed new sanctions on Russia's biggest oil companies Lukoil, and Rosneft over Moscow's conflict in Ukraine. This sent shockwaves throughout Europe where Lukoil operates a network filling stations and stores, transports and refines crude.
FTSE 100 closes at record high, boosted mainly by oil and earnings
The London Stock Exchange Group, Rentokil and oil stocks helped lift the FTSE 100 index to a new record high. The FTSE 100, a commodity-heavy index, rose up to 0.8% during the session and reached a new record high of 9594.82 before falling back down to 0.7%. Shell and BP, two of the world's largest oil companies, gained 3,2% and 3.8% each after U.S. sanctions were imposed on Rosneft (a major Russian supplier) and Lukoil (a major Russian supplier).
Source: Berlin wants to protect Rosneft Germany's arm from US sanctions
A person with direct knowledge about the discussions in the German government said that Germany was seeking exemptions from U.S. Sanctions on the German operations of Rosneft, the Russian oil company. This came after the banks warned they could be prevented from dealing with local energy suppliers due to the sanctions. Rosneft’s German business is owned by Russia but controlled by German authorities. It is Europe's largest economy's key oil supplier, routing the oil and refining it to fuel pumps and airports.
China Suspends Russian Oil Purchases Due to Sanctions
Chinese state oil majors have suspended purchases of seaborne Russian oil after the United States imposed sanctions on Rosneft and Lukoil, Moscow's two biggest oil companies, multiple trade sources said on Thursday.The move comes as refiners in India, the largest buyer of seaborne Russian oil, are set to sharply cut their crude imports from Moscow, to comply with the U.S.
What international sanctions are in place against Russia?
Here's a list of some of thousands of international sanctions that have been imposed against Russia for its invasion of Ukraine. Energy Companies - On October 23, U.S. president Donald Trump imposed sanctions on Russian oil companies Rosneft, and Lukoil. Other companies have until November 21, 2018 to end transactions with these companies. Washington sanctioned the Russian-owned NIS oil company in Serbia on October 9. This is one of Russia's final remaining assets in Europe.
FTSE 100 reaches record high thanks to oil stocks and positive earnings
The London FTSE 100 reached a record intraday high on Thursday, boosted by oil stocks and positive earnings from blue-chip companies such as LSEG Rentokil. The index, which is heavily influenced by commodities, rose up to 0.7% and reached a new record of 9,579.07 point. By 1200 GMT, it was up 0.6%. Shell and BP each gained 3% as crude prices jumped over 5% following the U.S. imposing sanctions on Rosneft, Lukoil and other major Russian suppliers because of the Ukraine conflict.
Palm oil prices fall due to weather and uncertainty in demand
Malaysian palm futures continued to fall for a fourth session in a row on Thursday, after an uncertain demand created pressure to sell. This was topped off by unpredictable weather conditions which are making production more volatile. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery had fallen 14 ringgit or 0.31% to 4,442 Ringgit ($1,051.61) per metric ton. The uncertainty of demand has exacerbated the pressure on sellers today.
Wall Street Journal, October 23,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. As frustration grows in Washington over the conflict in Ukraine, U.S. president Donald Trump announced new substantial sanctions against Russia's largest oil companies, Lukoil, and Rosneft. He also targeted nearly 30 of their subsidiaries. U.S. officials have confirmed that the Trump administration…
The return of meat on the menu is a feature of MORNING BID, EUROPE
Gregor Stuart Hunter gives us a look at what the future holds for European and global markets. Investors may feel tender this morning, after a brutal after-hours session that smashed tech megacaps as well as high-flying meme stocks. Beyond Meat's shares fell 11.4% after-hours, as the company that was heavily shorted for its fake meat reversed direction after retail investors flocked to the stock. The share price had risen as high as 1,479% in the last week.
Source: Indian refiners are reviewing Russian oil contracts following US sanctions
A source with first-hand knowledge of the situation said that Indian state refiners were reviewing their Russian oil trading documents to make sure no supplies would come directly from Rosneft or Lukoil following the U.S. sanctions against the companies. Donald Trump, the U.S. president in his second term imposed sanctions against Russia related to the Ukraine for the first in his tenure. He targeted oil companies Lukoil & Rosneft…
US sanctions Russian oil companies Rosneft, Lukoil
As his frustration with Russian President Vladimir Putin grows over the war, U.S. president Donald Trump imposed sanctions against Russia on Wednesday for the first times in his second term. He targeted oil companies Lukoil & Rosneft. The U.S. Treasury Department announced that it was ready to take additional action, as it called upon Moscow to immediately agree to a ceasefire during Russia's conflict in Ukraine which began in February 2020. Trump has made a significant policy shift by imposing sanctions against Russia.
US, UK Ramp Up Pressure on India to Stop Russian Oil Imports
Western powers have ramped up pressure on Russia's oil sales amid its war with Ukraine as U.S. President Donald Trump said India would stop buying and Britain imposed sanctions on top Russian oil firms.Ukrainian President Volodymyr Zelenskiy is schedule to meet Trump in Washington on Friday to push for military and energy support at a time when Kyiv and Moscow are escalating the war with attacks on energy infrastructure.Indian officials are also in Washington for trade talks, with the U.S.
UK Targets Lukoil, Rosneft, Shadow Fleet with Sanctions
Britain targeted Russia's two largest oil companies, Lukoil and Rosneft, and 51 shadow fleet tankers on Wednesday in what it described as a new bid to tighten energy sanctions and choke off Kremlin revenues.Lukoil and Rosneft were designated under the Britain’s Russia sanctions laws for what London described as their role in supporting the Russian government. They are subject to an asset freeze, director disqualification, transport restrictions…
Exxon not the only company that is interested in returning to Russia, says Kremlin
When asked on Wednesday about the possibility of Exxon Mobil returning to Russia, Kremlin spokesperson Dmitry Peskov said that it was not only the U.S. oil major who wanted to return. Peskov said on RBC radio that "there are more than one company interested in reincarnating their presence on the Russian Market". Exxon was one of many Western companies that said they would leave Russia as soon as Moscow sent its troops into Ukraine in February 2022. Governments around the world condemned this move and began to impose sanctions.
Sources say that Exxon has signed an initial agreement with Rosneft in order to map out a possible route to recover Russian losses.
According to sources familiar with these talks, U.S. oil giant Exxon Mobil signed an initial non-binding agreement to help Exxon recover a $4.6 billion loss it took on its Russian activities in 2022 due to Moscow's invasion in Ukraine. The agreement is a first step in repairing the commercial ties between the two nations, but little progress will be made until Moscow has made enough progress towards a peace accord in Ukraine and the United States and European Union have relaxed their sanctions against Russia.
Nayara Energy Increases Fuel Sales to HPCL after EU Sanctions
India's Nayara Energy has raised fuel sales to state retailer Hindustan Petroleum Corp after the Russia-backed refiner's exports were hit by European Union sanctions, a government source said on Tuesday.Since the imposition of sanctions, Nayara has been operating its 400,000 barrel-per-day (bpd) Vadinar refinery in western India at 70-80% capacity.Higher local sales of refined fuels would help the company to sustain its refinery runs, the source added."We would like them (Nayara) to operate at as high capacity as it can," the sou
US and Russian officials discussed the latest Ukraine peace talks alongside energy deals
Five sources familiar with these talks claim that U.S. officials and Russian government officials discussed energy deals in parallel to negotiations to achieve peace in Ukraine this month. They said that these deals were presented as incentives for Washington to relax sanctions against Russia and to encourage the Kremlin into peace in Ukraine. Due to sanctions imposed after the Ukraine invasion in February 2022, Russia is no longer able to attract international investment into its energy sector or make major deals.