The Kremlin can now largely disregard the G7’s price cap on Russian oil exports, as the global benchmark price has fallen below $60 a barrel.
The Kremlin is desperately hoping that Trump’s return will bring an end to the war.
Russia’s sudden eagerness to engage with U.S. President Donald Trump’s efforts to end the war in Ukraine comes as no surprise. The Kremlin is desperate for the conflict to conclude,
Putin Halts Arctic Gas Production as Sanctions Take Effect
Russia has been compelled to halt operations at a section of the world’s largest liquefied natural gas (LNG) facility near the Arctic city of Murmansk due to diminished demand caused
Russian ruble continues to decline against the dollar
The Russian ruble extended its decline today, losing a quarter of its value since August. It now takes more than 113 rubles to purchase one U.S. dollar.
Rouble Falls to Three-Month Low Following Ukraine Attack
The rouble fell to its lowest level since late May after Kyiv launched its largest incursion into Russian territory since the war began in 2022.
Putin is getting around Western sanctions
Insurers have raised concerns that the price cap on Russian oil has become unenforceable, leading to an increase in ships joining a shadow fleet, thereby circumventing G7 sanctions aimed at
Putin seeks urgent petrol supplies as Russia faces fuel shortage.
Russia has reportedly requested Kazakhstan’s assistance in supplying petrol, as Ukrainian attacks on Russian refineries have necessitated gasoline imports.
Putin plans tax increases to support Russia’s faltering military efforts.
Vladimir Putin is reportedly considering significant tax increases for Russians as the Moscow government struggles to secure sufficient funds for its military operations in Ukraine.
UK energy bills for households expected to reach a two-year low
Analysts predict a significant decrease in household energy bills, with an expected £293 annual reduction starting in April, following the implementation of the next Ofgem price cap.
Russia’s revenue from oil and gas decreased by 24% in 2023.
In 2023, Russia’s federal budget saw a 24% decrease in income from oil and gas, totalling 8.822 trillion roubles ($99.4 billion), as reported by the finance ministry on Thursday.
Oil extended its biggest weekly advance in two months
Oil prices continued their most significant weekly increase in two months, driven higher by new attacks in the Red Sea that led numerous ships to choose longer, safer routes.
National Grid aims to restrict electricity consumption on Wednesday.
The National Grid has declared its intention to decrease electricity consumption on Wednesday, citing “tighter than usual electricity supply margins expected on Wednesday evening.”