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shifting market

Russian Oil Exports to India Surge 2,200% Following European Sanctions

Russia increased its oil sales to India by 2,200% in 2022 after sanctions ended exports to the European market.

sanctions adaptation

Russia to Extend Oil Production Cuts Until End of June

The production cuts, which amount to about 5% of daily output, were announced after Western countries announced new sanctions on Russian oil.

shrinking margin

Russian State Oil Giant Rosneft Profit Falls After Sanctions

Western powers have imposed a raft of sanctions against Russia, including a price cap on its crude, over the conflict in Ukraine.

Russia's Oil Revenue Sinks as Sanctions Bite – IEA

Russia, however, was still shipping "roughly the same" amount of oil to world markets, according to the IEA.

Russian Gas Exports Sink by 25% Despite Rise in Oil Sales

The European Union, once the largest buyer of Russian gas, drastically reduced its imports last year.

Russia to Slash Oil Output Over Western Price Cap

Russia announced Friday it will slash crude oil output by 5% next month after Western countries imposed a price cap over the Ukraine conflict. International...

West's New Oil Sanctions Aim to Tighten Screws on Russia

The West's latest wave of sanctions on Russian energy exports seeks to hit Moscow harder than its previous moves over the Ukraine war. An EU-wide ban on...

blocked revenue

Russia Enacts Oil Sale Ban on Price Cap-Compliant Countries

Russia’s ban on oil exports to countries and companies that adhere to a Western price cap aiming to constrain the Kremlin’s energy revenues...

retaliation measure

Russia to Ban Oil Exports to Countries With Price Cap

Russia issued a decree Tuesday to ban oil sales to countries and companies that comply with a price cap agreed by Western countries in response to Moscow's...

Moscow Warns of Ban on Oil Sales to Countries Joining Price Cap

A senior Russian official warned Friday that Moscow would ban oil sales to countries that join a Western price cap on the country’s crude. President...

unblocked straits

Turkey Ends Tanker Dispute Linked to Russian Price Cap

Turkey said Tuesday it has cleared up a dispute linked to a Western price cap on Russian crude that had stalled the passage of tankers through the Bosphorus...

stagnant straits

Dozens of Oil Tankers Stuck in Turkey Amid Russian Price Cap Fallout – Reports

Millions of barrels of oil on apparently non-Russian tankers were stuck in Turkish waters due to Ankara’s proof-of-insurance demands as part of a...

seized subsidiaries

Russia's Rosneft Reports $889Mln Loss from Assets 'Transfer' in Germany

Russia's oil giant Rosneft said Wednesday its profit over the past nine months had been badly hit by the seizure of its German-based refineries by Berlin...

restricting revenue

Russian Oil Price Cap Put to the Test

The price cap on Russian oil agreed by the EU, G7 and Australia came into force on Monday. It aims to restrict Russia's revenue as punishment for its invasion...

'analyzing' the move

Russia Denounces Oil Price Cap Agreed by EU, G7

Russia on Saturday denounced a $60 price cap on its oil agreed by the EU, G7 and Australia, even as Ukraine suggested it was not tough enough and...

Russian Oil Tanks Ignite Near Belarusian, Ukrainian Borders

Oil tanks near Russia's border with Belarus and Ukraine caught fire early Wednesday, local authorities said Wednesday. The oil tank fires come a day after ...

Putin Warns of 'Grave Consequences' to Oil Price Caps

Russian President Vladimir Putin warned that Western plans to introduce oil price caps could have "grave consequences" for energy markets, during a telephone...

Turkey Becomes New Route for Russian Oil to EU – Think Tank

Moscow's revenues from fossil fuel exports fell in October to their lowest levels since the Ukraine invasion, but Turkey has become a new route for Russian...

'sovereignty' of resources

Rosneft Head Sechin Slams EU’s Energy Price Cap

A Western cap on Russian energy prices destroys individual countries’ sovereignty and plays into the hands of the United States, Igor Sechin...

ExxonMobil Exits Russia With ‘Unilateral Termination’ of Sakhalin-1 Assets

American oil giant ExxonMobil has completed its exit from the Russian market after President Vladimir Putin ordered the expropriation of its assets, the...

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