Sanctions loophole ‘lets Russian oil into Britain through the backdoor’
2 years ago

Sanctions loophole ‘lets Russian oil into Britain through the backdoor’

The Telegraph  

A loophole in British sanctions on Russian oil allows imports through the backdoor, campaigners have claimed, threatening to undermine efforts to squeeze the Kremlin’s vast fossil fuel revenues. Sanctions threaten to be “nothing more than a press release”, campaigners Global Witness said, as it emerged that refined products made from Russian crude may still be allowed into the country. Kwasi Kwarteng, the then business secretary, announced in March that the UK would ban imports of Russian oil by the end of the year, arguing the Government was sending “a clear message to Putin’s regime”. “Another example is Russian intermediate feedstocks or products imported into Sweden and then processed to make a new UK-specification finished product would be deemed to originate in Sweden.” Campaigners fear the loophole could see countries that have not banned Russian crude imports used as a back-door for Russian oil exports into the UK, denting the impact of sanctions.

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History of this topic

UK announces fresh sanctions on Russian energy
6 days, 9 hours ago

UK announces fresh sanctions on Russian energy

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK has announced a fresh wave of sanctions on …

EU slaps sanctions on dozens more Russian officials and targets its shadow oil and gas fleet
1 week, 1 day ago

EU slaps sanctions on dozens more Russian officials and targets its shadow oil and gas fleet

Associated Press  

BRUSSELS — The European Union on Monday imposed fresh sanctions on dozens of officials linked to Russia’s war on Ukraine, including two top North Korean defense officials, a military unit blamed for an attack on a Kyiv children’s hospital and the heads of companies in the energy sector. Russia’s vast shadow fleet of ships that Moscow is exploiting to skirt …

US Considers New Russia Oil Sanctions to Weaken Putin Ahead of Trump
1 week, 6 days ago

US Considers New Russia Oil Sanctions to Weaken Putin Ahead of Trump

Deccan Chronicle  

The Biden administration is weighing new, harsher sanctions against Russia’s lucrative oil trade, seeking to tighten the squeeze on the Kremlin’s war machine just weeks before Donald Trump returns to the White House.Details of the possible new measures were still being worked out, but President Joe Biden’s team was considering restrictions that might target some Russian oil exports, according to …

David Cameron calls on Europe to turn off Russian gas to save Ukraine
6 months, 1 week ago

David Cameron calls on Europe to turn off Russian gas to save Ukraine

The Telegraph  

The bloc was responsible for importing up to half of Moscow’s LNG with Spain and France being the second and third largest buyers behind China. Lord Cameron also confirmed that Britain would hand Ukraine at least £3 billion in military support “next year and every year in the future for as long as it takes until Putin is defeated”. Rebuild …

Sanctions on Russian oil have failed. Were they ever meant to succeed?
1 year ago

Sanctions on Russian oil have failed. Were they ever meant to succeed?

Al Jazeera  

Last December, the European Union banned imports of Russian crude oil in a bid to starve the Russian war machine into submission over its invasion of Ukraine. Sanction-proof tankers Anticipating this, the EU, along with the G7, last year placed a $60-per-barrel price cap on Russian oil sold to third parties. “It’s basically a sanction-proof tanker.” Western protection-and-indemnity-insured tankers dropped …

EU Foreign Minister says Europe should stop entry of Indian products made from Russian oil
1 year, 7 months ago

EU Foreign Minister says Europe should stop entry of Indian products made from Russian oil

The Hindu  

Hours before his meeting in Brussels with External Affairs Minister S. Jaishankar, the European Union’s Foreign Minister, Josep Borrell, said that Europe should not permit the entry of refined petroleum products from India that are made from Russian oil. Mr. Borrell’s remarks were made to the Financial Times in an interview, in which the Minister said it was “certainly a …

Russia launches intense air raid on Kyiv, top Chinese diplomat to tour Ukraine and Russia
1 year, 7 months ago

Russia launches intense air raid on Kyiv, top Chinese diplomat to tour Ukraine and Russia

ABC  

Russia launched an exceptionally intense air attack on Kyiv in the early hours of Tuesday, using drones, cruise and probably ballistic missiles, city officials said, as the Ukrainian capital suffered its eighth air raid this month. Key points: Russia fired six ballistic missiles from aircraft, nine cruise missiles from ships in the Black Sea and three missiles from land Ukraine …

EU is still largest importer of Russian oil due to loophole in sanctions, report claims
1 year, 8 months ago

EU is still largest importer of Russian oil due to loophole in sanctions, report claims

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. The EU, Group of Seven …

Russia’s oil exports are back to pre-war levels
1 year, 8 months ago

Russia’s oil exports are back to pre-war levels

CNN  

London CNN — Russia’s oil exports have bounced back to levels last seen before it invaded Ukraine, despite a barrage of Western sanctions. Moscow’s exports of crude oil and oil products rose in March to their highest level since April 2020, jumping by 600,000 barrels a day, the International Energy Agency said in its monthly oil report Friday. The IEA …

How China and India’s appetite for oil and gas kept Russia afloat
1 year, 10 months ago

How China and India’s appetite for oil and gas kept Russia afloat

Al Jazeera  

Despite Western-led sanctions aimed at punishing Russia over its war in Ukraine, growing demand for Russian energy imports has helped keep the country’s besieged economy afloat. China and India, both of which have declined to condemn Russia or impose sanctions over the war, became the biggest buyers of Russian crude oil last year as Western countries restricted imports and imposed …

No economic ‘knockout’ yet from West’s sanctions on Russia
1 year, 10 months ago

No economic ‘knockout’ yet from West’s sanctions on Russia

Associated Press  

WASHINGTON — One month into the invasion of Ukraine, President Joe Biden stood in the courtyard of a grand Polish castle and laid out the punishing economic costs that the U.S. and its allies were inflicting on Vladimir Putin’s Russia, declaring that the ruble is almost immediately “reduced to rubble.” Russia is now the world’s most heavily sanctioned country, according …

Latest on Ukraine: EU just banned Russian diesel and other oil products (Feb. 6)
1 year, 10 months ago

Latest on Ukraine: EU just banned Russian diesel and other oil products (Feb. 6)

NPR  

Latest on Ukraine: EU just banned Russian diesel and other oil products Enlarge this image toggle caption Yasuyoshi Chiba/AFP via Getty Images Yasuyoshi Chiba/AFP via Getty Images Here's a look ahead and a roundup of key developments from the past week. Grossi, who's repeatedly warned about the security of embattled nuclear power plants in Ukraine, will meet with representatives from …

Russia bans sales of oil to countries imposing price cap
1 year, 11 months ago

Russia bans sales of oil to countries imposing price cap

Live Mint  

Russia on Tuesday banned the sale of its oil and petroleum products to countries that put a cap on their sales price, in a move that threatened more uncertainty ahead for global energy markets. Many of Russia’s crude exports are now selling at market prices well below the $60 cap, primarily to countries like India, China and Turkey that haven’t …

Vladimir Putin bans Russian oil exports to countries that imposed price cap over Ukraine war
1 year, 11 months ago

Vladimir Putin bans Russian oil exports to countries that imposed price cap over Ukraine war

ABC  

President Vladimir Putin has delivered Russia's long-awaited response to a Western price cap, signing off on a five-month ban on the supply of crude oil and oil products to nations that impose the cap. Key points: Russia has banned G7 countries from crude oil exports, beginning February 1 The move follows the G7 price cap, aimed at crippling Moscow's military …

Russia bans oil sales to nations, firms complying with price cap
1 year, 11 months ago

Russia bans oil sales to nations, firms complying with price cap

Al Jazeera  

Moscow’s response to the Western price cap is to stop supplying crude oil and oil products from February 1. Russian President Vladimir Putin has issued a decree that bans oil sales to countries and companies that comply with a price cap agreed to by Western countries in response to Moscow’s invasion of Ukraine. The Group of Seven leading industrialised nations, …

EU Proposes New Russia Sanctions Including Oil Price Cap Over Latest 'Escalation' in Ukraine
2 years, 2 months ago

EU Proposes New Russia Sanctions Including Oil Price Cap Over Latest 'Escalation' in Ukraine

News 18  

The EU’s executive on Wednesday proposed a new round of sanctions on Moscow over its latest “escalation” in Ukraine, including an oil price cap and ban on Russian exports worth seven billion euros. “Last week, Russia has escalated the invasion of Ukraine to a new level,” European Commission President Ursula von der Leyen said. As part of the new round …

Russia demands sanctions are lifted before it resumes gas supplies
2 years, 3 months ago

Russia demands sanctions are lifted before it resumes gas supplies

The Telegraph  

We start the week with another surge in gas prices after Putin cut off supplies through the crucial Nord Stream pipeline. 5 things to start your day 1) Cut red tape on fracking to secure energy security, Liz Truss urged - She is expected to lift the ban on drilling 'within days' of becoming prime minister 2) Truss confirms belief …

Putin warns sanctions risk energy price spike ‘catastrophe’
2 years, 5 months ago

Putin warns sanctions risk energy price spike ‘catastrophe’

Al Jazeera  

Russian president says Western calls to reduce reliance on Russian energy have made global markets spike in oil and gas. Signalling that the Kremlin was in no mood for compromise, President Vladimir Putin on Friday said continued sanctions against Russia over the war in Ukraine risked triggering catastrophic energy price rises for consumers around the world. Addressing leaders of Russia’s …

G-7 expected to adopt fresh sanctions against Russia
2 years, 5 months ago

G-7 expected to adopt fresh sanctions against Russia

Live Mint  

TELFS-BUCHEN : The Group of Seven leaders are expected to agree to start work on a mechanism to cap the purchase price of Russian oil, with the U.S. also announcing a new round of military aid for Ukraine and sanctions against Moscow, Biden administration officials said Monday. Leaders will direct relevant ministers in their countries to work on the details …

‘Big blow to Putin’s war’: Sanctions approved on Russian oil
2 years, 6 months ago

‘Big blow to Putin’s war’: Sanctions approved on Russian oil

Al Jazeera  

A sixth round of European Union sanctions targeting Russian oil, banks, and military officials entered into force on Friday. The punitive measures against the Kremlin for invading Ukraine come into legal effect after long, drawn-out negotiations to convince Hungary and other landlocked EU countries to agree to a partial ban on Russian oil. EU foreign policy chief Josep Borrell said …

The European Union’s ban on Russian oil
2 years, 6 months ago

The European Union’s ban on Russian oil

The Hindu  

The story so far: As part of the sixth package of sanctions since Russia’s invasion of Ukraine, the European Union member states on May 30 reached an agreement to ban 90% of Russian crude oil imports by the end of the year. Addressing European lawmakers, she sought a “complete import ban on all Russian oil, seaborne and pipeline crude and …

EU approves sanctions targeting Russian oil and Sberbank
2 years, 6 months ago

EU approves sanctions targeting Russian oil and Sberbank

Al Jazeera  

The bloc drops the leader of Russia’s Orthodox Church from a proposed blacklist after Hungary opposes the move. The European Union has given its final approval to new sanctions on Russian oil and top bank Sberbank, after much wrangling with Hungary, as punishment for Russian President Vladimir Putin’s February 24 invasion of Ukraine. The sixth round of sanctions also included …

EXPLAINER: Effects of EU Russia oil ban, Moscow’s response
2 years, 6 months ago

EXPLAINER: Effects of EU Russia oil ban, Moscow’s response

Associated Press  

THE HAGUE, Netherlands — The European Union has agreed to slash Russian oil imports in a tough escalation of the bloc’s campaign of sanctions to punish Moscow for its invasion of Ukraine. The move agreed late Monday at an EU leaders’ summit in Brussels comes amid soaring energy prices in Europe and could spark more rises, particularly later this year …

High prices, Asian markets could blunt EU ban on Russian oil
2 years, 6 months ago

High prices, Asian markets could blunt EU ban on Russian oil

Associated Press  

BRUSSELS — The European Union’s groundbreaking decision to ban nearly all oil from Russia to punish the country for its invasion of Ukraine is a blow to Moscow’s economy, but its effects may be blunted by rising energy prices and other countries willing to buy some of the petroleum, industry experts say. “So even Russia offering a discount means that …

EU must approach Russia sanctions differently: Dutch PM after difficult oil boycott
2 years, 6 months ago

EU must approach Russia sanctions differently: Dutch PM after difficult oil boycott

NL Times  

The EU must change its approach if it starts a new package of punitive measures against Russia, said Prime Minister Mark Rutte. Orban accused the EU's executive board of "irresponsible behavior" for proposing sanctions without first coordinating it with the Member States. The EU Member States agreed to ban imports of Russian oil shipped to the EU by sea, affecting …

EU leaders agree to Russian oil ban after compromise with Hungary
2 years, 6 months ago

EU leaders agree to Russian oil ban after compromise with Hungary

Al Jazeera  

EU says deal will effectively cut 90 percent of oil imports by year-end cutting off key source of Moscow’s funding for Ukraine war. The 27-nation organisation has spent weeks haggling over a complete ban on Russian oil but encountered stubborn resistance from Hungarian Prime Minister Viktor Orban who said an embargo would destroy his country’s economy. This immediately covers more …

'Mounting tensions' could see EU shelve Russia oil embargo
2 years, 7 months ago

'Mounting tensions' could see EU shelve Russia oil embargo

The Telegraph  

Brussels could shelve its plans for an embargo on Russia oil imports amid mounting tensions over the bloc’s attempts to roll out a sixth package of economic sanctions against Moscow. Hungary has refused to back further measures against Russia’s energy sector, which has prevented the bloc from targeting more oligarchs and banks to ramp up pressure on the Kremlin over …

EU oil ban adds pressure on Russia but obstacles remain: Analysts
2 years, 7 months ago

EU oil ban adds pressure on Russia but obstacles remain: Analysts

Al Jazeera  

For a complete embargo to be successful, the bloc has yet to convince countries which rely more heavily on Russian energy supplies. For von der Leyen’s desired “complete ban” on Russian oil to be enforced, all 27 member states must vote unanimously on a set of terms, further amend previous decisions and allow the Commission to serve as the key …

Russia-Ukraine crisis updates | May 11, 2022
2 years, 7 months ago

Russia-Ukraine crisis updates | May 11, 2022

The Hindu  

Ukraine's natural gas pipeline operator said on May 11 that it would stop Russian shipments through a key hub in the east of the country, while its president, Volodymyr Zelenskyy, said Kyiv's military had made small gains, pushing Russian forces out of four villages near Kharkiv. While speaking to French University Sciences Po, Zelensky said that the war could have …

EU wrangles over details of Russia oil embargo
2 years, 7 months ago

EU wrangles over details of Russia oil embargo

The Hindu  

European diplomats were locked in difficult negotiations on the terms of the EU’s sixth round of sanctions against Russia on Sunday, with several members seeking guarantees for their oil supplies. The package suggested last week by the European Commission would have seen most EU members halting oil imports from Russia by the end of the year, to punish Moscow for …

EU tweaks Russia oil sanctions plan in bid to win over reluctant states
2 years, 7 months ago

EU tweaks Russia oil sanctions plan in bid to win over reluctant states

The Hindu  

The European Commission has proposed changes to its planned embargo on Russian oil in a bid to win over reluctant states, three EU sources told Reuters on Friday. Under the tweaked proposal, Hungary and Slovakia will be able to buy Russian oil from pipelines until the end of 2024, whereas the Czech Republic could continue until June 2024, if it …

EU takes major step toward Russian oil ban, new sanctions
2 years, 7 months ago

EU takes major step toward Russian oil ban, new sanctions

Associated Press  

BRUSSELS — The European Union’s top official on Wednesday called on the 27-nation bloc to ban oil imports from Russia and target the country’s biggest bank and major broadcasters in a sixth package of sanctions over the war in Ukraine. Von der Leyen conceded that getting all 27 member countries — some of them landlocked and highly dependent on Russia …

EU proposes phased Russian oil embargo, more sanctions
2 years, 7 months ago

EU proposes phased Russian oil embargo, more sanctions

The Hindu  

The EU proposed its toughest sanctions yet against Russia on Wednesday, including a phased oil embargo, as Ukraine came under further heavy Russian bombardment and nervously monitored large-scale army drills in neighbouring Belarus, a close Moscow ally. Piling pressure on Russia’s already battered $1.8 trillion economy, the European Commission proposed phasing out supplies of Russian crude oil within six months …

Explained: What happens once the European Union bans Russian oil?
2 years, 7 months ago

Explained: What happens once the European Union bans Russian oil?

Firstpost  

The European Union has unveiled a plan to put more pressure on Russia, including a ban on its oil imports by the end of the year. This is likely to lead to shortages and high prices of oil and fuel at a time when inflation is high European Union chief Ursula von der Leyen on Wednesday said the EU would …

EU weighs ban on Russian oil as missiles hit west and east Ukraine
2 years, 7 months ago

EU weighs ban on Russian oil as missiles hit west and east Ukraine

LA Times  

Vehicles are ablaze after missiles struck an oil depot in Makiivka in eastern Ukraine. The European Union proposed a ban on Russian oil Wednesday as Moscow’s forces took concerted aim at Ukraine’s infrastructure and Western arms shipments to the embattled nation. In a video message posted Wednesday on Twitter, he said Ukraine is not happy that the ban would be …

What you should know about the EU plan to ban Russian oil imports
2 years, 7 months ago

What you should know about the EU plan to ban Russian oil imports

Al Jazeera  

The European Commission has proposed a plan to phase out imports of Russian crude and refined oil in response to Russia’s invasion of Ukraine. European Commission President Ursula von der Leyen said on Wednesday the embargo “will be a complete import ban on Russian oil, seaborne and pipeline, crude and refined”, that will take place in stages to give states …

Hungary says EU’s Russian oil ban plan lacks security guarantee
2 years, 7 months ago

Hungary says EU’s Russian oil ban plan lacks security guarantee

Al Jazeera  

The EU’s chief has called for a ban on Russian oil imports by the end of 2022 over Moscow’s war in Ukraine. Hungary says European Union proposals to enact sanctions on Russian oil do not provide any guarantees for its energy security and that it cannot support the plan in its current form. “The Brussels package of sanctions would ban …

EU chief proposes Russian oil ban in new round of sanctions
2 years, 7 months ago

EU chief proposes Russian oil ban in new round of sanctions

Al Jazeera  

The proposal, if accepted by EU members, seeks to stop crude oil imports in six months and refined products by end of 2022. European Commission President Ursula von der Leyen also proposed on Wednesday that three major Russian banks be disconnected from the SWIFT international banking payment system and called for a ban on three state-owned broadcasters. Reflecting widespread anger …

EU leader calls for Russian oil ban in new set of sanctions
2 years, 7 months ago

EU leader calls for Russian oil ban in new set of sanctions

NPR  

EU leader calls for Russian oil ban in new set of sanctions Enlarge this image toggle caption Jean-Francois Badias/AP Jean-Francois Badias/AP BRUSSELS — The European Union's top official on Wednesday called on the 27-nation bloc to ban oil imports from Russia in a sixth package of sanctions targeting Moscow for its war in Ukraine. European Commission President Ursula von der …

Germany says could drop opposition to Russian oil ban
2 years, 7 months ago

Germany says could drop opposition to Russian oil ban

Al Jazeera  

Two ministers say Berlin is ready to back a European Union ban on Russian oil imports and warn of potential economic costs. Two senior ministers in Chancellor Olaf Scholz’s government have said Germany would be ready to back an immediate European Union ban on Russian oil imports, and that Europe’s biggest economy could weather shortages and price hikes. “It can’t …

EU, UK seek to corner Russia with more sanctions
2 years, 8 months ago

EU, UK seek to corner Russia with more sanctions

India Today  

Britain and the European Union on Wednesday announced coordinated sanctions against pro-Moscow separatists in Ukraine, as well as more Russian oligarchs and their relatives. The UK government said that, in coordination with the EU, it is sanctioning "178 Russian separatists" in eastern Ukraine, in addition to six more oligarchs and their families and employees. "This comes after multiple reports last …

World’s top oil trader will stop buying Russian crude
2 years, 8 months ago

World’s top oil trader will stop buying Russian crude

CNN  

London CNN Business — Vitol Group, the world’s top independent oil merchant, will stop trading Russian crude oil and products by the end of the year, a source with knowledge of the situation told CNN. “For now, there are no signs of increased volumes going to China.” Vitol’s revenues almost doubled last year to $279 billion as global demand for …

Europe is talking about joining the Russian oil embargo
2 years, 9 months ago

Europe is talking about joining the Russian oil embargo

CNN  

London CNN Business — Europe will consider joining a US-led embargo of Russian oil this week as the West looks for new ways to punish President Vladimir Putin for waging his devastating war in Ukraine. Russia is the world’s second biggest exporter of oil, behind Saudi Arabia, and despite the chilling effect of unprecedentedWestern financial sanctions and an embargo announced …

Top EU diplomat decries Russia’s ‘massive war crime’ in Mariupol
2 years, 9 months ago

Top EU diplomat decries Russia’s ‘massive war crime’ in Mariupol

Al Jazeera  

Borrell says EU foreign ministers will discuss more support to Ukraine and fresh sanctions on Russian oil and gas sectors. The European Union’s foreign policy chief has called Russia’s attack on the Ukrainian port city Mariupol “a massive war crime”, as a string of member states pushed for sanctions on Moscow’s key energy sector. “What’s happening now in Mariupol is …

Russia offers more oil to India
2 years, 9 months ago

Russia offers more oil to India

The Hindu  

Beleaguered by sanctions from the western countries and a ban on fuel exports to the United States, Russia is keen to increase its oil and petroleum product exports to India and India’s investments in the Russian oil sector, Russian Deputy Prime Minister Alexander Novak conveyed to Petroleum Minister Hardeep Puri on Friday. “Russia’s oil and petroleum product exports to India …

Russia-Ukraine Conflict: Moscow Retaliates Against Sanctions, Bans Export Of 200 Goods, Equipment
2 years, 9 months ago

Russia-Ukraine Conflict: Moscow Retaliates Against Sanctions, Bans Export Of 200 Goods, Equipment

ABP News  

New Delhi: Responding to West sanctions, Russia approved a list of 200 goods and equipment on Thursday to temporarily prohibit their export from the country. It has been adopted as a follow up to the ‘Presidential Executive Order On Application of Special Economic Measures in Foreign Economic Activity to Ensure the Security of the Russian Federation,’ the release added. In …

Unwanted Russian oil and gas poses ‘environmental conundrum’ over methane risk
2 years, 9 months ago

Unwanted Russian oil and gas poses ‘environmental conundrum’ over methane risk

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Unwanted Russian oil and gas pose an “environmental conundrum” as it could lead to extra …

Russia: We have enough oil and gas buyers even with sanctions
2 years, 9 months ago

Russia: We have enough oil and gas buyers even with sanctions

Al Jazeera  

The United States has banned imports of Russian oil and other fossil fuels, a move that sent prices of commodities from energy to metals to grains surging. Russia has enough buyers for its oil and gas even as Western nations and their allies impose sanctions in response to the invasion of Ukraine, according to a top Kremlin official. “We will …

Warnings over living costs as sanctions target Russian oil
2 years, 9 months ago

Warnings over living costs as sanctions target Russian oil

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

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