(Oil Price)– Oil prices moved higher on Friday morning after the EU agreed to an 18th package of sanctions against Russia, but the effectiveness of the sanctions is yet to be seen. Oil prices rose on Friday after the EU adopted its 18th sanctions package against Russia, lowering the price cap, targeting Russian oil trade, and closing a loophole that has
(Oil Price) – The Biden Administration is set to slap more sanctions on Russia’s oil exports by targeting tankers hauling Russian crude and products, sources familiar with the outgoing administration’s plans have told Reuters. “It is going to be a big package,” one of Reuters’s sources said. The current Administration plans to target vessels that carry Russian oil above the $60 per
(Oil Price) – Litasco, the international oil trading and shipping firm owned by Russian oil company Lukoil, is looking to rebuild its business in the Americas by arranging credit lines and distancing itself from Russian oil trades and its parent, sources close to Litasco have told Reuters. Litasco and Lukoil have not been sanctioned by the United States as part of the
