... benefits greatly from the decision of OPEC+ to cut production. Back in February 2023, Deputy Prime Minister Alexander Novak, who is in charge of the energy sector, announced the decision of the national leadership to voluntarily reduce production by 500 thousand bpd. That is, Russia would have cut oil production anyway. But the fact that OPEC+ partners are now joining this thrust means that concerted action will have a much greater impact on the market, keeping oil prices at a high level. Russia has its own reasons for the decision to cut production....
... financial, insurance and other services in EU jurisdiction. The wording of paragraph 7 of Art. 3n of EU Council Regulation No 833/2014 suggests that we are talking about any ship,
regardless of the country of origin
.
Yulia Sokolshchik:
USA Versus USA: Why American Business Also Loses from Sanctions
Similar problems may also arise when a Russian insurance company is set up to serve bulk oil shipments, or if one or another company from friendly countries is involved. Here, the United States and its allies also have the instrument of secondary sanctions in their hands. The same goes for financial transactions. Operations in the currencies ...
In fact, the sellers’ market is being changed into the buyers’ market by artificial political methods rather than for economic reasons
G7 countries are working hard to coordinate a sanctions regime to cap prices on Russian oil and oil products. The United States is already drafting a mechanism for applying these sanctions, which its allies and partners will use as a guideline. The new sanctions in the form of legal arrangements are expected to be formalised very soon. How ...
As the OPEC+ deal has expired, Russia and Saudi Arabia remain at odds, though the United States offered encouraging words that production cuts might be negotiated
The Russian-Saudi feud over oil production has destabilized the market even as the industry faces anemic demand and the potential for a
legion of layoffs
because of the coronavirus pandemic.
On the heels of plummeting prices, the market
rallied April 2
after US President Donald ...
... reduce the incentives for great powers to interfere in its affairs.
Risks:
Drop in oil and gas prices will be a serious challenge for regional hydrocarbon exporters, particularly... ... new settlements in disputed territories in Israel or new development projects in Jerusalem);
Persistent political instability in the region may hinder the development... ... a platform for violent clashes between the MENA groups.
III. Afterword: What about Russia?
Viktor Katona, Ruslan Mamedov:
Russia’s Interests in the Arab Mashreq: Analyzing...
..., no effective methods exist to deal with oil spills in harsh conditions of the Far North involving a specific alternation of day and night and considerable remoteness, thousands of kilometers, from industrial urban centers. Consequences of oil spills and other unfavorable human-induced events for vulnerable Arctic nature ... ... disastrous since it is extremely difficult to organize prompt mitigation of such consequences. In view of the above restrictions, the Ministry of Natural Resources and Environment of Russia is in favor of extending the moratorium on issuing production licenses ...
... clear. Rosneft is likely to lobby for the liberalization of access to shelf deposits, as most of the blocks are already split between them and Gazprom. However, it might be difficult to reach a consensus with the Russian leadership in the case that the USA strengthens sanctions against the Russian oil and gas sector.
What Will the New Sanctions Lead to?
Pavel Sharikov:
How to Make Russia-U.S. Relations Great Again?
The adoption of the new anti-Russian sanctions will definitely complicate the life of the above mentioned foreign partners, and might ...
Policy brief #8/2016
The decline in global oil prices that began in the summer of 2014 carries with it a number of risks in assembling a whole range of major oil and gas ... ... implementing joint projects. Transferring international tensions into the Arctic against the background of sanctions may prompt Russia to consider involving non-regional actors, primarily Asian states, in the Arctic cooperation. Under such circumstances,...
The tentative agreement among oil exporting countries to freeze oil production rekindled the practically extinguished ... ... April 1, 2016.
More than 15 countries
have joined the agreement so far, including Russia, Saudi Arabia, Nigeria, Qatar and Venezuela. Some big American companies, including... ... expected, and there will still be an oil glut in the market.
Second, Iran’s refusal to join the initiative makes it much less likely that oil producing countries will...
Top Five Factors Affecting Oil Prices
The situation on the oil market is a cause for concern – members are worried, and increasingly asking questions: ... ... countries’ policy. Meanwhile, the oil price is a key factor determining the economic development of many countries, including Russia, where oil production and sale accounts for over
40 percent of revenues
to the federal budget, among other major exporters ...