All articles tagged with #european sanctions
Oil prices remain stable as traders evaluate the impact of EU sanctions on Russian oil exports, potential effects of US tariffs on demand, and ongoing Iran nuclear negotiations, with market expectations ranging between $64 and $70 per barrel.
Russian oil exports to India have increased by 2,200% since European sanctions over the invasion of Ukraine cut the country off from its European markets, according to Russian Deputy Prime Minister Alexander Novak. Russia has rerouted its oil exports through neutral countries since the European Union embargoed seaborne Russian oil deliveries and introduced a price cap on Russian crude oil in coordination with the G7 late last year. Novak said that the output reduction, which amounts to 5% of Russia's daily production, would continue through June.