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.
Category: Embargoes and Sanctions
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E.U. agrees on Russian oil price cap of $60 per barrel after fraught talks.
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
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 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 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 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 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.
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Ukraine’s Allies Struggle to Agree on Plan to Curb Russia’s Oil Revenue
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.
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EU Nears Cap on the Price of Russian Oil
E.U. diplomats aim to agree on a price this week, clearing the way to enforce the measure before a Dec. 5 deadline.
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Oil Prices Slide as Investors Worry Energy Demand Is Slowing
The U.S. benchmark oil price fell below $80 a barrel on Friday, and gasoline prices in some states are now close to $3 a gallon.
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World Leaders Meet as Global Economy Faces Multiple Threats
High inflation, food insecurity and a possible global recession loom large as the Group of 20 summit discussions begin.