Author: Steven Sahiounie

December 18, 2022 Companies from the EU, Norway, Ukraine, and the UK are not allowed to transport goods through Russia by roadThe Russian government will extend a ban on cargo transit by road for companies from countries that have placed similar restrictions on Moscow, RBK reported on Thursday, citing sources close to discussions on the matter.The ban, which was initially introduced in October and was due to expire on December 31, will now be extended until June 30, 2023, according to the report.Under the ban, companies from the EU, Norway, Ukraine, and the UK are not allowed to transport goods…

December 17, 2022The country’s share of imports may exceed 70% of all loadings this month as EU buyers shun Russian crudeIndia is expected to remain the top importer of Russian Urals crude oil in December for the second consecutive month, Reuters reported on Saturday, citing Refinitiv data and traders.In November, the populous nation accounted for about 53% of the total tanker shipments of the grade, marking an all-time high.India’s share of Russian crude exports and volumes purchased will increase month-on-month, despite a shorter loading plan for Russia’s western ports, traders told the news agency.In December, market participants expect India’s share to top…

Brussels expanded its list of sanctions-hit individuals and entities earlier this weekDozens of Russians and Belarusians have filed lawsuits at the EU Court of Justice, to challenge their inclusion on the sanctions list, the German newspaper Bild am Sonntag reported on Saturday.The Luxembourg-based court has reportedly received claims from one company and 61 individuals from Russia and Belarus, placed on the EU blacklist over their alleged support for Moscow’s military operation in Ukraine.The business figures are seeking to challenge what they view as a violation of their rights, and the freeze of their assets by EU authorities.According to the media report,…

December 17, 2022ICE has warned that the TFF trading platform may have to be relocated if a gas price cap is imposedA major natural gas trading platform may have to leave the European Union if Brussels adopts a plan to cap prices, the Intercontinental Exchange (ICE), which operates the Dutch Title Transfer Facility (TTF) hub, said in a statement seen by Reuters.On Thursday, the EU Council announced that the bloc’s energy ministers had failed to reach an agreement on a proposed gas price limit following months of negotiations. Some member states want to lower the ceiling, while others are worried that…

December 17, 2022The southeast Asian country is a popular vacation spot for Russian touristsTrade between Russia and Indonesia has grown over 50% this year despite global tensions, the Russian ambassador to the southeast Asian country, Lyudmila Vorobyova, said in an interview with local newspaper Rakyat Merdeka.According to the official, the two countries are working on a number of projects together, and Russia is actively invested in Indonesia.“Relations between the two countries are very close … Despite the Covid-19 pandemic and general geopolitical tensions, last year we saw an increase of more than 50% in trade between our countries,” Vorobyova said,…

December 17, 2022The social media platform reportedly saw major advertiser exits over Musk’s tweet policiesElon Musk’s family office, which owns and runs Twitter, is currently searching for investors, according to the news site Semafor, citing two sources familiar with the issue. It follows media reports about the latest exodus of advertisers and the social media giant’s heavy debt burden.Jared Birchall, managing director of the Musk’s family office, is reportedly seeking cash injections for Twitter, in an attempt to make the social network financially viable.The fundraising effort was confirmed by Ross Gerber, president and CEO at Gerber Kawasaki Wealth & Investment Management, in response to…

December 17, 2022Skyrocketing gas prices was the key factor for surging coal demand, an annual study by the IEA has shownThe global energy crisis entailed by surging natural gas prices pushed coal use to a ten-year high this year, according to a report from the International Energy Agency (IEA) released on Friday.Global coal consumption is expected to rise by 1.2 % in 2022 and will exceed 8 billion tons in a single year for the first time ever, beating the previous record set in 2013. Coal used in power generation, the largest consuming sector, is forecast to grow by 2%…

December 17, 2022Three senior ministers make unusually negative comments about the Eurozone financial regulator’s policyItalian ministers publicly lashed out at the European Central Bank on Friday for a yet another interest rate hike, branding the decision “baffling” and “crazy.”The comments from three senior ministers from the recently appointed Italian government come after the ECB raised its benchmark rate by half a percentage point on Thursday. It’s feared the move, aimed at taming inflation, will pile financial pressure on one of the Eurozone’s most indebted countries.Shortly after the announcement, Italy’s Defense Minister Guido Crosetto wrote on Twitter that raising interest rates…

Many are going to bed earlier to reduce heating costs this winter, ONS data showsA quarter of British adults are struggling to keep warm in their homes as they cut back on energy use in the face of soaring costs, according to a new survey by the Office for National Statistics (ONS).The report, which was published on Thursday, shows that 23% of adults were occasionally, hardly ever, or never able to keep comfortably warm in their living room over the past two weeks.The ONS data indicated that 63% of adults were using less gas and electricity because of increases in…

Switzerland joins latest EU sanctions against RussiaDecember 16, 2022The ninth round of Ukraine-related penalties had earlier been adopted by the blocSwitzerland has adopted the expanded anti-Russia sanctions, in line with the latest measures passed by the European Union, the Swiss Federal Council announced on Friday.The announcement comes shortly after the European Council passed its ninth package of penalties over Moscow’s military operation in Ukraine. The new measures include export controls and restrictions on dual-use goods and technology, and on goods and technology that could be used in the defense and security sector.The expanded penalties also include the blacklisting of 168…