BRUSSELS, May 20 (Xinhua) -- Member states of the European Union (EU) have failed to reach an agreement over a Russian oil embargo, considered the core part of a sixth package of sanctions proposed by the bloc earlier this month. With Hungary locked in intense haggling with the EU on th...
Russia's oil and gas revenue surged by 80pc on the year and by 40pc on the month to Rbs945.6bn ($10.4bn) in February, just short of the finance ministry's target. Year-on-year growth was driven by higher oil prices at the start of this year. The month-on-month rise probably ...
Putin has attempted to recover some of those assets for the state especially in the oil industry. Russia was effectively bankrupted by the interference of US privatisation advisors and the kleptocratic inheritors of Russian wealth which was used to meddle in Russian politics and live the high life...
The price cap is "an unhappy compromise that will do very little to cut Russia's oil revenue" from current levels, said Ben Cahill, an energy security expert at the Center for Strategic and International Studies in Washington. "I really think that the U.S. Treasury's ...
dollar to a more than seven-month low on Monday, courtesy of plunging crude prices as well as fears that sanctions on Russian oil could hit the country's export revenue, Reuters reports. The rouble fell as much as 5.3% against the dollar at 68.02 in Monday’s intraday session, its ...
By 1996 the government was in dire financial straits, failing to collect enough tax revenue, and Yeltsin was running for reelection. In a major windfall for a handful of the oligarchs, the government borrowed the ruble equivalent of $1.8 billion from them and offered as collateral its shares ...
"By eliminating some of the demand, we're forcing the price of Russian oil down, and that does reduce revenue to Russia," said Kevin Book, managing director at Clearview Energy Partners. "In theory, it is a way of reducing how much Russia earns on every barrel it sells, maybe not by...
SAN FRANCISCO (AP) — Acrid, black smoke has been seen pouring from a chimney at the Russian consulate in San Francisco a day after the Trump administration ordered its closure amid escalating tensions between the United States and Russia.
A member of the G7-led coalition described the Russian tax move to the FT as “prima facie evidence” that the country’s revenue was suffering due to the cap. An oil refinery in Omsk, Siberia. Some critics say sanctions have simply pushed the bulk of Russian oil trading into the shadow...
Revenue (TTM): RUB 2.25 trillion Net Income: RUB 1.32 trillion Market Cap: RUB 1.01 trillion 1-Year Trailing Total Return: 4.12% 3-Month Average Volume: RUB 1.32 trillion78 Surgutneftegas is a Russian oil and gas company formed by merging several former government-owned companies. Its main in...