Latest Russia Headlines
All the headlines from our Russia Topic Page, ordered by recency.
G-7’s Price Ceiling on Russia Oil Isn’t Low Enough to Hit Putin’s War Budget: Economists
Dec 8 2022 // The Group of Seven’s price ceiling on Russian oil exports isn’t low enough to take a big bite out of the Kremlin’s revenues next year and economists say even if it does lead to a drop in crude production,...
Oil Tanker Clears Turkish Shipping Logjam With Letter From Russian Insurer: Document
Dec 7 2022 // A letter provided by Russian insurer Ingosstrakh enabled the first oil tanker to sail through Turkish waters in recent days after tougher regulations were imposed by Turkish authorities, a document showed. This has led...
Russia Oil Sanctions Fuel Boom for Old Tankers
Dec 6 2022 // The market for old oil tankers is booming, and it’s all down to efforts by Western nations to curb trade in Russian crude. As Western shipping and maritime services firms steer clear of Russian oil to avoid falling...
Russian State-Owned Bank VTB Hit by Massive Distributed-Denial-of-Service Attack
Dec 6 2022 // Russia’s No. 2 bank VTB was hit by the largest cyber attack in its history, it said on Tuesday, warning of temporary difficulties in accessing its mobile app and website, but assuring customers that their data...
Turkey’s Proof-of-Insurance Rule Ensnares Russian Oil Shipments
Dec 6 2022 // Oil shipments from Russia and Kazakhstan are getting ensnared in a Turkish government rule to provide proof that tankers are insured when navigating the vital Bosphorus and Dardanelles shipping straits. The measure, which...
Here’s What You Need to Know About Russia Oil Sanctions, Effective Dec. 5
Dec 5 2022 // After months of planning and negotiations, the biggest tranche of sanctions on Russian oil to date take effect on Monday. How big their impact will be remains uncertain. The Group of Seven clinched a last-minute deal to...
EU Agrees to $60 Price Cap for Russian Oil, Allowing Buyers to Access Insurance
Dec 2 2022 // The European Union agreed to put a price cap on Russian oil at $60 a barrel, paving the way for a wider Group of Seven deal, according to a Polish diplomat. The price is higher than where Russia already sells most of its...
Aircraft Lessors’ Lawsuits Against Their Insurers Rise to $8B for Seized Russian Planes
Nov 30 2022 // Aircraft leasing firms are suing dozens of insurers for around $8 billion in a string of lawsuits over the loss of hundreds of aircraft stuck in Russia since Moscow’s invasion of Ukraine. More than 400 leased planes...
Western Governments Struggle to Set Russian Oil Price Cap Before Dec. 5
Nov 30 2022 // Western governments want to set a maximum purchase price for Russian oil on the world market to limit Moscow’s ability to raise money for its war on Ukraine. The plan is meant to punish Russia while at the same time...
Russia Seeks to Boost Recognition of its Shipping Insurance to Dodge Sanctions
Nov 30 2022 // Moscow is seeking to bolster the recognition of Russian maritime cargo insurance to allow it to ship oil and related products abroad in the face of Western sanctions, a government official was quoted as saying on...
SMBC Joins List of Aviation Lessors Suing Insurers Over Jets Stuck in Russia
Nov 29 2022 // SMBC Aviation Capital has joined most of the world’s largest aircraft lessors in pursuing insurance claims through the courts over jets it owns that are stuck in Russia, an Irish High Court filing...
Russia Says It Won’t Sell Oil to Nations That Cap Prices
Nov 22 2022 // Russia doesn’t plan to supply crude or oil products to nations that implement a price cap, according to Deputy Prime Minister Alexander Novak. Instead, Russia will redirect its oil supply to “market-oriented...
Aircraft Lessors Sue Insurers for $6.5 Billion Over Planes Trapped in Russia
Nov 22 2022 // Aircraft leasing firms are suing dozens of insurers for around $6.5 billion in a string of lawsuits over the loss of hundreds of aircraft stuck in Russia since Moscow’s invasion of Ukraine. More than 400 leased...
Turkey to Demand Oil Tankers Have Proof of Insurance, Adding Teeth to Russia Sanctions
Nov 17 2022 // Turkey warned the world’s oil shippers they will need to prove they’re insured to cross the country’s vital straits, a move that could restrict flows of Russian oil as new European sanctions kick in. The...
Aircraft Lessor BOC Aviation Sues 16 Insurers Over Claims for Jets Stuck in Russia
Nov 14 2022 // BOC Aviation Ltd. has begun legal action in pursuit of claims against 16 insurers over aircraft the lessor owns that are stuck in Russia, an Irish High Court filing shows. The insurers named in the proceedings, which the...
Reuters: Russian Oil Cap Spurs Insurer Fears of Oil-Laden Ships Being Left at Sea
Nov 11 2022 // Oil-laden tankers risk being left languishing at sea if insurers do not urgently get clarity on an unfinished G7 and European Union plan to cap the price of Russian crude, two senior industry executives told Reuters. The...
UK to Cap Price of Russian Oil Using Insurance, Brokerage, Shipping Services Ban
Nov 4 2022 // The UK government is to cap the price of Russian oil for any company in the world using the country’s insurance, brokerage and shipping services. The UK Treasury said in a statement on Thursday that the country will...
Russia Says it Will Resume Participation in Ukraine Grain Deal
Nov 2 2022 // Russia said on Wednesday it would resume its participation in a deal freeing up grain exports from war-torn Ukraine, reversing a move that world leaders had said threatened to exacerbate global hunger. Moscow announced the...
Carlyle Aviation Sues Insurers Over Seized Planes Leased to Russian Airlines
Nov 1 2022 // Carlyle Aviation Partners said it sued a group of insurance companies and re-insurers claiming they failed to pay for losses stemming from the seizure of planes leased to Russian airlines following the invasion of...
WTW Posts Drop in Q2 Net Income, Revises 2024 Outlook on Russia Losses
Oct 28 2022 // Third-quarter net income at broker WTW was $192 million compared to $907 million during the prior-year third quarter. Net income for the third quarter 2021 included the $1 billion income receipt that was received as a...
