Russian Oil
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U.S. will not renew sanctions waivers on Russian, Iranian oil, Bessent saysThe moves signal an end to the Trump administration's efforts to use the sanctions waivers to free up more oil supplies and lower soaring global energy prices.U.S. NewsApr 15
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Trump imposes additional 25% tariff on India over Russian oil purchaseU.S.-India ties are facing their most serious crisis in years after talks between the two countries failed to produce a trade agreement.U.S. NewsAug 6, 2025
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Russia moves to cut oil production over western price capsRussian exporter Gazprom has cut off most supplies of natural gas to Europe, citing technical issues and refusal by some customers to pay in Russian currency.WorldFeb 10, 2023
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Canada joining G-7 countries, Australia to expand price caps on Russian oilThe Department of Finance says the caps will be enforced by prohibiting buyers who do not abide by the price caps from obtaining services from companies in the G7 or Australia.CanadaFeb 4, 2023
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EU countries agree to additional price caps on refined Russian oil productsThe price caps are $100 per barrel on products that trade at a premium to crude, such as diesel, and $45 per barrel for products that trade at a discount, such as fuel oil.WorldFeb 3, 2023
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Russian oil price cap ‘too lenient,’ as Moscow still able to fund war effort: reportOil markets, however, are now less focused on a potential loss of Russian oil than on weak demand from a slowing global economy, and prices have fallen.WorldJan 11, 2023
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G7 imposes US$60 price cap on Russian oil as Moscow wages Ukraine warRussian oil can be shipped to third-party countries using G7 and EU tankers, insurance companies and credit institutions, only if the cargo is bought at or below the price cap.WorldDec 5, 2022
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Ukraine war: Russia rejects US$60 a barrel cap on its oil, threatens to cut supplyThe office of Ukrainian President Volodymyr Zelenskyy called Saturday for a lower price cap on Russian oil than the one agreed to by Ukraine's Western supporters.WorldDec 3, 2022
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Seaborne Russian oil will be price capped at US$60 a barrel, EU nations sayEurope needed to set the discounted price that other nations will pay by Monday, when an EU embargo on Russian oil shipped by sea and a ban on their insurance take effect.WorldDec 2, 2022
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EU talks on Russian oil price cap delayed as countries remain ‘far apart’: diplomatsEuropean governments were split on the level at which to cap Russian oil prices to curb Moscow's ability to pay for its war in Ukraine without causing a global oil supply shock.WorldNov 25, 2022
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