Russia sanctions News

G7 Nations Mull Options to Deprive Moscow of Bumper Oil Profits

The Group of Seven (G7) wealthy nations is looking at blocking the transportation of Russian oil among other options to deprive Moscow of bumper revenues amid its invasion of Ukraine, unless it heeds a price cap. In a statement released …

G7 Countries Aim to Have Price Cap on Russia Oil Before Dec. 5, When Sanctions Kick In

The Group of Seven richest economies aim to have a price-capping mechanism on Russian oil exports in place by Dec. 5, when European Union sanctions banning seaborne imports of Russian crude come into force, a senior G7 official said on …

Return of Coal as Alternative to Russian Gas Threatens European Firms’ ESG Ratings

European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them scrambling to impress investors still vocal on sustainability. Despite an energy crisis following sanctions on Russia, major …

Update: Russia Confirms Missile Strike on Port of Odesa but Says Grain Deal Stands

Ukraine said on Monday it hoped a U.N.-brokered deal aimed at easing global food shortages by resuming grain exports from the Black Sea region would start to be implemented this week. Moscow brushed aside concerns that the deal could be …

Russia Pauses Seizure of Assets of Western Firms Exiting the Country

Note: This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine. Moscow’s plan to implement a new law enabling authorities to seize the assets of Western firms leaving the country failed to get …

Cybersecurity Firm Group-IB to Split Russian, International Businesses

Cybersecurity outfit Group-IB will split its Russian and international business into two separate companies in a bid to maintain a presence in both the Russian and overseas markets, the company said on Wednesday. (Reuters issued a statement with this article: …

Italian Court Turns Down Request to Lift Freeze on Russian Businessman’s Yacht

ROME – An Italian court has thrown out requests to unfreeze billionaire Alexey Mordashov’s yacht which was seized by the police as part of a drive by Western states to target wealthy Russians after the invasion of Ukraine. Mordashov’s 65 …

Shipowners That Still Transport Russian Crude Are Reaping Big Rewards

A handful of shipowners still willing to transport Russian crude are reaping big rewards on at least one route as others shun the trade. Shippers can earn around $1.6 million hauling Russian ESPO oil on a small tanker from the …

State-Controlled RNRC Says It Now Covers Nearly All Russian Reinsurance

State-controlled Russian National Reinsurance Co. (RNRC) is covering nearly all reinsurance of domestic business, its president said on Friday, as foreign insurance firms withdrew their coverage following Western sanctions. “I can say that of today, nearly all Russian insurance market …

Seven Taiwanese Insurers Have Not Received Russian Eurobond Payments: Regulator

Taiwan’s financial regulator said on Tuesday that seven Taiwanese insurance companies have not received interest due on May 27 on Russian Eurobonds after a grace period ended on Sunday evening. Russia defaulted on its international bonds for the first time …