Moscow: – The European Union approved a ban on crude oil imported from Russia on Friday. Five-member countries of the union have been exempted from the ban. The implication is that the union’s decision to ban Russian imports will not make much of a difference to Russia. Russian media reported that Russia had started producing […]
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Tokyo: Japan has expressed extreme displeasure over the Chinese oil exploration in the East China Sea. Japanese Prime Minister Fumio Kishida warned that these unilateral Chinese actions are deplorable and Japan will never accept these actions. It has also been revealed that the Japanese foreign ministry has lodged an official diplomatic complaint with China. This […]
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Brussels/Moscow: – Attempts by the European Union to impose restrictions on crude oil imports from Russia have failed once again. After nearly ten days of negotiations, the Union was forced to withdraw due to strong opposition from some member states to a ban on Russian oil imports. ‘We cannot say when sanctions on Russian oil […]
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Brussels/Moscow – Slovakians and Hungary, members of the European Union (EU) have refused to accept the proposed sanctions by the EU on oil from Russia. Slovakia has demanded a timeline of minimum three years to shift to an alternative for Russian fuel. In contrast, Hungary has refused the oil embargo stating that it is not […]
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New Delhi/Moscow: While the United States is issuing warnings and threats, India has decided to increase fuel purchases from Russia. At the same time, reports are being received that India is also considering purchasing coal from Russia. The Russian Foreign Minister has praised India for safeguarding the national interest, disregarding the US pressure. Russian Foreign […]
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Washington: – The Biden administration has again indicated the opening of the ‘Strategic Petroleum Reserves’ ban on Russian fuel imports given the Ukraine conflict and rising inflation. An announcement to that effect is expected on Thursday. This is the third time in the last five months that the United States has used the Strategic Petroleum […]
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Tehran: – The fuel prices have flared up in the international markets given the Russia-Ukraine war and the western countries are appealing to augment fuel production. In this scenario, Iran objected to the agreement signed between Saudi and Kuwait to develop the fuel gas fields in the Persian Gulf. Iran termed the deal as illegal, […]
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New Delhi: Since the United States imposed harsh sanctions targeting Russian oil exports, Russia has proposed to supply oil at a concessional rate to India as a trusted ally. As the crude prices are inflated in the international markets, it is reported that India is mulling over accepting the offer. Few sources from Indian Oil […]
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Paris/Moscow/London: – French Finance Minister Bruno Le Maire warned that the flare-up in the oil rates following the Russian attack on Ukraine and its consequences are similar to the Oil Shock of 1973. The French Finance Minister warned that the global economy could slow down given the situation created in the oil market. The current […]
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Dubai: – In 2014, the Arab allies’ coalition had started a military conflict against the Houthi rebels in Yemen. At that time, the United States had refused to participate in the war, saying that this was not their war. However, the Russia-Ukraine war has flared up over the last few days. Hence, the fuel rates […]
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