Following Friday’s U.S. sanctions against tankers shipping Russian oil, India expects its flows of crude from Russia not to be disrupted until March as the sanctioned tankers will be allowed to discharge until then, a senior Indian government official told Reuters on Monday.
Russia has formed a new government commission to coordinate clean up of the biggest spill of oil products in the Black Sea in recent history as the Kremlin continues to assess the full scale of the catastrophe.
Russia’s oil proceeds to the state budget increased by almost a third last year to the highest since at least 2018, spurred by higher crude prices as the nation adapted to international sanctions.
Serbia can pay Gazprom Neft PJSC and Gazprom PJSC to exit the Balkan country’s only refiner in order to preserve local fuel production after it became ensnared in new US sanctions on Russia’s oil industry.
The Foreign Ministry in Chisinau said it “strongly refutes the dangerous disinformation spread by the embassy of the Russian Federation in the Republic of Moldova, which seeks to deflect responsibility for a crisis that Moscow itself has created.”
Even as Russian troops and tanks moved into Ukraine in February 2022, Russian natural gas kept flowing through the country’s pipeline network — set up when Ukraine and Russia were both part of the Soviet Union — to Europe, under a five-year agreement.
European countries are ramping up sanctions pressure on Russia as they look to reduce Vladimir Putin’s oil revenues that fund the war in Ukraine.
Dozens of kilometers of Black Sea coastline in Russia’s Krasnodar region have been covered in heavy fuel oil, local authorities and residents reported on December 17, after two oil tankers were heavily damaged during a storm in the Kerch Strait.
Denmark warned that Russia’s navy may start escorting the so-called shadow fleet tankers through Danish straits to escalate provocations against NATO countries.
Russian crude oil exports by sea have dropped by 11% from a recent high in October, due to maintenance at the Baltic port of Primorsk, pressure for Russia to align with its OPEC+ quota, and increased sanctions pressure.