Russian crude

Three years into war, US and Europe keep billions in trade with Russia

August 6, 2025

(BOE Report)– Three years after Russian President Vladimir Putin launched his full-scale invasion of Ukraine, the United States and European Union still import billions of euros worth of Russian energy and commodities, ranging from liquefied natural gas to enriched uranium. India this week lashed out at what it called Western double standards, after facing renewed threats from U.S. President Donald

Oil gains on OPEC+ output plans and price cap on Russian crude

December 5, 2022

BOE Report Oil prices on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and the start of a G7 price cap on Russian crude. At the same time, in a positive sign for fuel demand in the world’s top oil importer, more Chinese cities eased COVID-19 curbs over the weekend. WTI crude futures gained $2.30,

U.S., Allies eye $60 price cap for Russian crude

November 23, 2022

Oil Price The United States and its allies are hoping to establish the price level at which Russian crude oil will be capped, people familiar with the talks told the Wall Street Journal on Tuesday. Officials are talking about setting the price at which Russia’s crude oil will be capped at $60 per barrel. The group will meet on

Tankers that carried Iranian oil are switching to Russian crude

July 22, 2022

World Oil (Bloomberg) — Oil tankers that previously carried Iranian oil are switching to haul Russian crude, according to shipping analytics company Vortexa. Eleven of the tracked ships that previously carried Iranian crude have loaded Russian oil and products since April, accounting for 16 loadings in that period, according to a note dated July 21. Most of the vessels are smaller

Oil jumps 3% to 2-month high as EU seeks to ban Russian crude

May 26, 2022

US News NEW YORK – Oil prices rose about 3% to a two-month high on Thursday on signs of tight supply ahead of U.S. summer driving season, as the European Union (EU) wrangled with Hungary over plans to ban crude imports from Russia over its invasion of Ukraine. Brent futures for July delivery rose $3.21, or 2.8%, to $117.24 a

Factbox: Who is buying Russian crude oil and who has stopped

May 12, 2022

Yahoo Here is the response by countries regarding purchases of Russian oil following Moscow’s invasion of Ukraine on Feb. 24, and how companies have acted. COUNTRIES’ RESPONSES Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases but the 27 members of the European Union have not been able to agree on the embargo.