Arctic LNG 2 shareholders prepare for US sanctions The United States is seeking to ‘kill’ the Russian Arctic LNG-2 project implemented by Novatek. This was recently stated by US Assistant Secretary of State for Energy Geoffrey Pyatt. The sanctions would require shareholders (such...
Russian central bank raises interest rate to 15% On October 27, the Central Bank of Russia raised its key rate from 13% to 15%. It is the fourth consecutive time the bank hiked the borrowing costs recently. The bank cited a weak rouble and stubborn inflation pressure, which have...
Russian oil revenues surge according to IEAIn September, Russia earned US$18.8 billion from oil exports, the most profitable month since July 2022, according to the International Energy Agency (IEA). The country’s oil export revenues jumped by US$1.8 billion in one month. The...
US public support for arming Ukraine declines Americans from both major political parties are increasingly less supportive of the idea of supplying arms to Ukraine. According to a Reuters/Ipsos poll, only 41% agree with the statement that Washington “should provide arms to...
The ‘price cap’ doesn’t work Russia is becoming increasingly adept at circumventing restrictions, notably by abandoning the use of Western marine insurance for oil tankers. This enables Moscow to sell more oil at prices close to international levels. In August, almost...
Yellen now supports windfall tax on Russian assets US Treasury Secretary Janet Yellen has backed a European Union plan to impose a tax on profits gained from frozen Russian assets. She said it was a “sensible” way to help fund Ukraine’s reconstruction. Yet, last...
Russia aims to become a major player in the global copper market On 11 September, the country’s largest undeveloped copper deposit – Udokan – went into production. Located in Eastern Siberia, between Lake Baikal and the Pacific Ocean, it was inaugurated by Vladimir Putin...
