The price of oil fell by about 10 percent this week, easing (for now) supply worries about the E.U. embargo and a price cap.
Category: Embargoes and Sanctions
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Oil Prices Drop, Despite Heightened Sanctions on Russian Crude
The New York Times – Business: -
Qatar Extends Its Natural Gas Dominance at Russia’s Expense
The New York Times – Business:As its influence grows, the country is poised to become a big energy supplier to Europe, which has turned away from Russia after its invasion of Ukraine.
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What We Know About Brittney Griner’s Case in Russia
The New York Times – Sports:The W.N.B.A. star had been detained in Russia on drug charges for nearly 10 months before she was released in a prisoner swap on Thursday.
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EU Embargo of Russian Oil and G7’s Price Cap Take Effect
The New York Times – Business:An immediate impact on oil supplies in Europe was not expected, partly because the embargo has been in the works for months.
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Amid Churning Oil Market, OPEC and Russia Leave Production Unchanged
The New York Times – Business:The group, OPEC Plus, reaffirmed an output cut in October as “the right course of action” but outlined no further changes before an E.U. embargo of Russian oil begins on Monday.
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Ukraine’s Allies Agree on Russian Oil Price Cap
The New York Times – Business:The plan to impose a top price of $60 a barrel on Russian crude will most likely make a small dent in the Kremlin’s revenue, but the White House hopes it will help avert an oil shock.
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E.U. agrees on Russian oil price cap of $60 per barrel after fraught talks.
The New York Times – Business:The price cap, devised by Group of 7 countries and their allies, aims to limit Russia’s revenue while averting a global oil shock.
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OPEC and Russia to Meet as Global Forces Weigh on Oil Market
The New York Times – Business:As the West moves to intercede in oil trading, OPEC Plus, led by Saudi Arabia, is expected to protect its own interests.
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Ukraine Is Biden’s Defining Issue, and His Biggest Economic Challenge
The New York Times – Business:The shape of the war, and its effects on global markets, in the months and years to come could determine the president’s political fate.
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U.S. Crypto Exchange Kraken Settles With Treasury Dept.
The New York Times – Business:The crypto exchange, which had been under investigation for violating U.S. sanctions, agreed to pay $360,000 to settle the allegations.
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U.S. Allows Chevron to Expand Energy Operations in Venezuela
The New York Times – Business:The license, limited in scope, was issued amid the resumption of talks between the Venezuelan government and opposition, and comes as President Nicolás Maduro desperately needs to improve the economy.
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Ukraine’s Allies Struggle to Agree on Plan to Curb Russia’s Oil Revenue
The New York Times – Business:The policy must be in place before an E.U. embargo on Russian oil imports kicks in on Dec. 5. The talks are set to resume next week.