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☆ Bulgarian Distrust of Russia Simmers Over a Black Sea Oil Terminal
▼ + stars: | 2024-05-01 | by ( Andrew Higgins | ) www.nytimes.com time to read: 1 min

The oil terminal’s piers stretch just a few score yards into the Black Sea from the Bulgarian coast. For 25 years, the Russian crude they received fed a sprawling network of economic and political influence that helped keep Bulgaria tethered tightly to the Kremlin. In recent months, however, Russia has steadily lost its grip on the Rosenets Oil Terminal, near the Black Sea port city of Burgas. Bulgaria has taken back control of the piers and has laid plans to take over management of the refinery from its Russian owner, Lukoil, if it balks at processing non-Russian oil. In January, Bulgaria halted shipments of Russian crude.

Locations: Bulgarian, Bulgaria, Russian, Russia, Burgas

☆ Ukraine drones attack multiple oil refineries in the campaign against Russia's strategic energy industry
▼ + stars: | 2024-03-17 | by ( Cameron Manley | ) www.businessinsider.com time to read: +5 min

Ukraine attacked another Russian oil refinery on Saturday night. AdvertisementA long week of attacks on oil and gas infrastructureThis past week, Ukraine has made a concerted effort to degrade Russia's oil production capabilities. The governor of Russia's Samara Oblast reported on March 16 that Ukrainian drones had attacked two Rosneft oil refineries. One attack had hit another major oil refinery operated by Lukoil in the southwestern Volgograd region. Similar incidents had occurred across Russia in January, hitting the Slavneft-Yanos oil refinery, an oil refinery in Tuapse, a storage facility in Klintsy, and a Baltic sea Ust-Luga terminal.

Persons: —, Ukrainska, Russia's, Andriy Yermak, Volodymyr Zelenskyy, Zelensky, Краснодарському кра РосВдео Organizations: Bloomberg, Service, Business, Astra, Ukrainska Pravda, Security Services, Security Service, Stringer, Anadolu Agency, Getty, Reuters, Staff, Lukoil, НПЗ Locations: Ukraine, Russian, Krasnodar, Moscow, Russia, Russia's Samara Oblast, Ryazan, Nizhny Novgorod, Leningrad, Lukoil's Norsi, Russia's Belgorod, Norsi, Ukrainian, Volgograd, Tuapse, Klintsy, Baltic

☆ Oil prices underpinned by U.S. inventory data, attacks on Russian refineries
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: +2 min

This picture taken on Jan.12, 2024 shows onshore oil pumps in Tutong district in Brunei. Oil extended gains in Asian trade on Thursday after a surprise drop in U.S. crude stockpiles indicated strengthening demand, while possible supply disruptions following Ukrainian attacks on Russian refineries also underpinned prices. After seriously damaging Lukoil's refinery in Nizhny Novgorod on Tuesday, Ukraine hit refineries in the Rostov and Ryazan regions, Russian officials said. Two sources familiar with the situation told Reuters that the refinery had been forced to shut down two primary oil refining units. Gasoline inventories slid for a sixth straight week, falling by 5.7 million barrels to 234.1 million barrels, the EIA said, triple the expectations for a 1.9 million-barrel draw.

Persons: Vladimir Putin Organizations: Oil, U.S, West Texas, Rosneft's, Reuters, Energy Information Administration, EIA Locations: Tutong district, Brunei, Brent, Ukrainian, Nizhny Novgorod, Ukraine, Rostov, Ryazan, Rosneft's, Russian, Russia, U.S, Gulf

☆ Navalny is the latest in a long line of Putin critics who met an early death
▼ + stars: | 2024-02-16 | by ( Lauren Said-Moorhouse | ) edition.cnn.com time to read: +15 min

CNN —When Russian opposition leader Alexey Navalny returned to Russia in 2021, there were many who feared he would face an untimely end. The Kremlin has said it is investigating the critic’s death, the circumstances of which were not immediately clear. After his death, opposition leader Ilya Yashin said his friend had been working on a report about Russian troops and their involvement in Ukraine. Nemtsov’s death came two days before he was set to lead an opposition rally in the Russian capital. Alexander PerepilichnyyOver the years, suggestions have emerged of the possible use of a rare plant poison in the death of Russian financier Alexander Perepilichnyy.

Persons: Alexey Navalny, Vladimir Putin’s, ”, Navalny, Yegveny Prigozhin Yevgeny Prigozhin, Wagner, Reuters Yevgeny Prigozhin, –, Bill Browder, “ Putin, ” Boris Nemtsov, Boris Nemtsov, Dmitry Korotayev, Boris Yeltsin, Ilya Yashin, Nemtsov, Vladimir Putin, Nemtsov’s, Boris Berezovsky Boris Berezovsky, Yelena Gorbunova, Peter Macdiarmid, Boris Berezovsky, Putin, Berezovsky, Alexander Perepilichnyy, CNN Alexander Perepilichnyy, Perepilichnyy, Sergei Magnitsky, ANDREY SMIRNOV, Magnitsky, Browder, Alexander Litvinenko Alexander Litvinenko, Natasja Weitsz, Alexander Litvinenko, Litvinenko –, Robert Owen, Putin “, Litvinenko, Marina Litvinenko, Anna Politkovskaya, JENS SCHLUETER, Lom, Ali Gaitukayev, Politkovskaya, Chechen Republic …, ” Drownings, Prigozhin, Gennady Lopyrev –, “, Lopyrev, Pyotr Kucherenko, Pavel Antov, Vladimir Budanov, Budanov, Alexander Buzakov, Anatoly Gerashchenko, Ravil Maganov, Lukoil, Maganov “, Mikhail Khodorkovsky, Sergei Skripal, Skripal, Yulia Organizations: CNN, Putin’s United, “, Kremlin, PMC Wagner, Reuters, Republican Party of Russia, Party, Newsweek, Royal Botanic, Getty Images, Hermitage Capital, KGB, Getty, Authorities, The, Protect Journalists, RIA Novosti, Russia’s, Science, Higher Education, Gazprom, Lukoil, Moscow Aviation Institute, TASS Locations: Russia, Vladimir Putin’s Russia, Putin’s United Russia, Ukraine, ” Boris Nemtsov Russian, Kremlin, Moscow, Russian, London's, England, Soviet Union, Britain, Surrey, London, Kew, American, Chechnya, Leipzig, Germany, AFP, The New York, Chechen Republic, Washington, Gelendzhik, ”, Cuba, India, United States

FRANKFURT, Germany (AP) — The Dutch parent of pioneering Russian tech company Yandex is selling its operations in the country at a steeply discounted price of just over $5 billion to its Russia-based managers and oil company Lukoil, one of the biggest deals for Western-held companies to exit Russia since the invasion of Ukraine. He subsequently condemned Russia's invasion as “barbaric.” The Nasdaq exchange suspended trading in Yandex shares days after the invasion. After the sale, Yandex NV would be left with its international businesses — employing 1,300 people — including self-driving technology and generative artificial intelligence as well as a data center in Finland. Yandex NV Chairman John Boynton said the company had faced “exceptional challenges” since the start of the war. None of the purchasers have been sanctioned, Yandex NV said, and the cash part of the transaction would be conducted in Chinese yuan outside of Russia.

Persons: Vladimir Putin's, Arkady Volozh, Dmitry Peskov, ”, —, Alexander Chachava, Pavel Prass, Alexander Ryazanov, John Boynton, Boynton, McDonald’s, France’s Renault, Baltika Organizations: Western, Nasdaq, Yandex, Google, Yahoo, European Union, Companies, Baltika Breweries, Danone Locations: FRANKFURT, Germany, Russian, Russia, Ukraine, Moscow, Netherlands, Israel, Finland, Avtovaz, Western

☆ Ukraine's SBU Hits Russia's Volgograd Oil Refinery in Drone Attack Source
▼ + stars: | 2024-02-03 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

KYIV (Reuters) - Two Ukrainian drones struck a primary oil processing facility at the Volgograd oil refinery in southern Russia on Saturday in an operation conducted by the SBU security service, a Ukrainian source told Reuters. Local authorities in Russia said earlier that a fire had been extinguished at the large refinery following a drone attack. The refinery is owned by oil producer Lukoil. The strike is the latest in a series of Ukrainian drone attacks targeting Russian oil facilities in recent weeks, infrastructure that Kyiv sees as important for the Kremlin's war effort. The source in Kyiv told Reuters such drone attacks would continue.

Persons: Lukoil, Tom Balmforth, Toby Chopra Organizations: Reuters, Local Locations: Ukrainian, Volgograd, Russia, Kyiv, Kharkiv, Russian, Ukraine

☆ Ukraine's SBU hits Russia's Volgograd oil refinery in drone attack, source says
▼ + stars: | 2024-02-03 | by ( ) www.cnbc.com time to read: +1 min

A general view shows the oil refinery of the Lukoil company in Volgograd, Russia on April 22, 2022. Two Ukrainian drones struck a primary oil processing facility at the Volgograd oil refinery in southern Russia on Saturday in an operation conducted by the SBU security service, a Ukrainian source told Reuters. Local authorities in Russia said earlier that a fire had been extinguished at the large refinery following a drone attack. The strike is the latest in a series of Ukrainian drone attacks targeting Russian oil facilities in recent weeks, infrastructure that Kyiv sees as important for the Kremlin's war effort. The source in Kyiv told Reuters such drone attacks would continue.

Persons: Lukoil Organizations: Reuters, Local Locations: Volgograd, Russia, Ukrainian, Kyiv, Kharkiv, Russian, Ukraine

☆ Russia boasts it is beating sanctions, but its longer-term prospects are bleak
▼ + stars: | 2024-01-29 | by ( Tim Lister | ) edition.cnn.com time to read: +14 min

Far from buckling under their weight, the Russian economy is in fact 1% larger than it was on the eve of the invasion. India and China now account for 90% of Russian oil exports, according to Deputy Prime Minister Alexander Novak. Noemi Cassanelli/CNNThere’s little sign that ordinary Russians have been drastically impacted by Western sanctions. Sanctions will have a long-term impact on the Russian economy, according to the European Commission. Nabiullina said the Russian economy was like a car trying to go too fast.

Persons: Vladimir Putin, Putin, Sergei Chemezov, ” Chemezov, Scott Peterson, Alexander Novak, Christine Abely, “, ”, SWIFT, Alexei Mordashov, Noemi Cassanelli, Geoffrey Pyatt, Rachel Lyngaas, —, Alexander Nemenov, Elvira Nabiullina, Nabiullina, Natalia Kolesnikova, ” Abely Organizations: CNN, Atlantic Council, Russia, West ., Shipping, Windward, Reuters, US Treasury Department, United Arab Emirates, Crime Agency, US Treasury, “, Bank of, European, US, Financial Times, Russian Central Bank, Getty, Producers, International Energy Agency Locations: United States, Ukraine, Russian, Russia, Western, Sviatohirsk, Donetsk region, Asia, West, West . India, China, India, Volgograd, Turkey, UAE, Bank of Finland, Hong Kong, Europe, Egypt, Thailand, Moscow, Kazakhstan, Soviet Russia, AFP, Beijing

☆ Chairman of Russia's oil major Lukoil dies suddenly aged 66
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, Oct 24 (Reuters) - Vladimir Nekrasov, the chairman of Russia's second-largest oil producer Lukoil (LKOH.MM), has died suddenly at the age of 66 after suffering acute heart failure, the company said on Tuesday. Lukoil said Nekrasov had worked for almost 50 years in the oil and gas sector. He had also worked as Lukoil's First Vice-President and an adviser to the company's president. Unusually among Russian companies, Lukoil took a public stand over Moscow's operation in Ukraine. Reporting by Vladimir Soldatkin Editing by Gareth JonesOur Standards: The Thomson Reuters Trust Principles.

Persons: Vladimir Nekrasov, Russia's, Lukoil, Nekrasov, Ravil Maganov, Vladimir Soldatkin, Gareth Jones Organizations: Reuters, Thomson Locations: MOSCOW, Moscow, Ukraine

☆ Lukoil chairman dies suddenly, second in just over a year
▼ + stars: | 2023-10-24 | by ( Mark Thompson | ) edition.cnn.com time to read: +1 min

London CNN —Lukoil, Russia’s second-largest oil company, said Tuesday its chairman had died suddenly, at the age of 66. “It is with deep regret that we announce the sudden passing of Vladimir Ivanovich Nekrasov,” the company said in a statement posted to its website. He had also held positions as Lukoil’s first vice president and an adviser to the company’s president, Lukoil said. Maganov’s death was confirmed by Lukoil in September 2022 in a statement that said he “passed away following a severe illness” but made no mention of a fall. “We strongly support a lasting ceasefire and a settlement of problems through serious negotiations and diplomacy.”At least eight prominent Russian businessmen died suddenly in the months following the invasion.

Persons: London CNN —, Russia’s, Vladimir Ivanovich Nekrasov, ” Nekrasov, Lukoil’s, Lukoil, Ravil Maganov, “ Organizations: London CNN, Reuters Locations: Moscow, Ukraine

☆ Exclusive: Russia’s Lukoil lends Socar $1.5 billion in deal to supply its Turkish STAR refinery
▼ + stars: | 2023-10-05 | by ( Dmitry Zhdannikov | ) www.reuters.com time to read: +3 min

A general view shows the oil refinery of the Lukoil company in Volgograd, Russia April 22, 2022. Turkey has not imposed sanctions on Russia and continues to import Russian oil and gas. The STAR refinery, however, had to cut Russian crude imports this summer due to complications arising from international financial restrictions on business with Moscow. Neither Lukoil, Socar nor STAR responded to requests for comment. Since cutting imports of Russian oil, it has relied on Kazakh, West African and Iraqi oil grades, according to LSEG data.

Persons: Lukoil, Celeste, Ocean Faye, Socar, Dmitry Zhdannikov, Nailia Bagirova, Kirsten Donovan Organizations: REUTERS, Turkish STAR, Moscow, STAR, Fidelity, Thomson Locations: Volgograd, Russia, Ukraine, MOSCOW, Russian, Turkish, Turkey, Moscow, Urals, Primorsk, Bulgaria, Romania, Dubai, Geneva, Kirkuk, Kazakh, West African, LONDON

☆ Ukraine is making decoy radar reflectors using cut-up barrels from one of Russia's largest oil companies: report
▼ + stars: | 2023-09-22 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

A Ukrainian company is repurposing Russian oil barrels to make military decoys, the FT reported. Oil barrels from Lukoil, one of Russia's biggest companies, are used to make fake radar reflectors. Ukraine is using cut-up oil barrels from the massive Russian energy company Lukoil to make fake radar reflectors, the outlet reported. We spent $1,000 on the decoy radar." However, the addition of Russian materials into the decoys is an added touch that made the enterprise chief chuckle, according to the report.

Persons: Metinvest, it's, Rinat Organizations: Service, Financial Times, CNN, Google, Ukraine's 54th Brigade Locations: Wall, Silicon, Ukraine, Russia, Ukrainian

Sept 14 (Reuters) - Russian retailer Magnit (MGNT.MM) said on Thursday it had fully completed a deal to buy back blocked shares from Western investors at a 50% discount by purchasing shares held through Euroclear, the first such arrangement since Russia's February 2022 invasion of Ukraine. Magnit said it had bought back 21,903,163.8 shares from shareholders, representing about 21.5% of all issued and outstanding shares at an amount of around 48.5 billion roubles ($507.32 million). "Magnit's GDR program depositary bank, JP Morgan Chase Bank, also took part, as well as international investors," Magnit said, such as hedge funds, sovereign wealth funds and individuals. Magnit had tripled the size of its original offer after strong demand from Western investors. Russia's presidential office is currently reviewing a request from oil major Lukoil (LKOH.MM) to buy back up to 25% of its shares from foreign investors.

Persons: Magnit, Russia's, Magnit's, JPM, JP, Alexander Marrow, Gareth Jones Organizations: Reuters, Nordic, Magnit, Euroclear Bank, RIC, Kremlin, JPMorgan, JP Morgan Chase Bank, Thomson Locations: Euroclear, Ukraine, Russian, Italy, Singapore, Japan, Canada, Australia, United States, United Kingdom, Germany, Magnit, Russia, Uzbekistan, Magnit's Moscow, Washington, GDR

☆ Oil edges lower as markets shrug off supply jitters
▼ + stars: | 2023-09-06 | by ( Mohi Narayan | Thomson Reuters | Reports On Everything How Asia S Fuel Use Recovers The Fallout Of To Tracking How The Global Energy Transition Impacts Refinery Expansion Plans | ) www.reuters.com time to read: +3 min

NEW DELHI, Sept 6 (Reuters) - Oil prices reversed course on Wednesday after rising over 1% in the previous session, as investors shrugged off jitters arising from supply cuts from Saudi Arabia and Russia and a firm dollar capped the upside. A stronger dollar can weigh on oil demand by making the fuel more expensive for holders of other currencies. "Iran is producing close to 3.1 million barrels per day (bpd) and plans to pump around 3.4 million bpd. Reflecting supply concerns in the near term, the front-month Brent futures traded near 9-month highs at $4.13 a barrel above prices in six months. Sachdeva, however, added that the annual refinery maintenance period in the U.S. from September to October could limit demand for crude and potentially act as a restraining factor on rising oil prices.

Persons: Alexander Novak, Novak, Sachdeva, Mohi Narayan, Arathy Somasekhar, Christopher Cushing, Stephen Coates, John Stonestreet Organizations: Brent, . West Texas, Rystad Energy, ING Economics, ING, REUTERS, U.S, Saudi, Acme Investment Advisors, Thomson Locations: DELHI, Saudi Arabia, Russia, Iran, Volgograd, U.S, New Delhi, Houston

☆ Oil gains on supply woes after OPEC+ output cuts
▼ + stars: | 2023-09-06 | by ( Mohi Narayan | Thomson Reuters | Reports On Everything How Asia S Fuel Use Recovers The Fallout Of To Tracking How The Global Energy Transition Impacts Refinery Expansion Plans | ) www.reuters.com time to read: +3 min

Investors had expected Saudi Arabia and Russia to extend voluntary cuts into October, but the three-month extension was unexpected. "These bullish moves significantly tighten the global oil market and can only result in one thing: higher oil prices worldwide," Jorge Leon, senior vice president at consultancy Rystad Energy, said in a note. The Saudi and Russian voluntary cuts are on top of the April cut agreed by several OPEC+ producers, which extends to the end of 2024. "The decision to prolong output cuts underscores their dedication to price stability in a challenging market environment," Sugandha Sachdeva, executive director and chief strategist at Acme Investment Advisors, said. Sachdeva, however, added that the annual refinery maintenance period in the U.S. from September to October could limit demand for crude and potentially act as a restraining factor on rising oil prices.

Persons: Jorge Leon, Leon, Alexander Novak, Novak, Sachdeva, Mohi Narayan, Arathy Somasekhar, Christopher Cushing, Stephen Coates Organizations: REUTERS, Brent, . West Texas, Rystad Energy, Saudi, Acme Investment Advisors, Thomson Locations: Volgograd, Russia, DELHI, Saudi Arabia, West, U.S, New Delhi, Houston

NEW YORK, Sept 6 (Reuters) - Oil prices settled higher on Wednesday, reversing early declines as traders anticipated further draws on U.S. crude oil inventory following extended production cuts in Saudi Arabia and Russia. Brent crude futures settled up 56 cents to $90.60 a barrel while U.S. West Texas Intermediate crude (WTI) futures settled up 85 cents to $87.54. "We have pretty low crude supplies in the U.S., with several weeks of big crude oil draws pushing prices up," said Bob Yawger, director of energy futures also at Mizuho. On Tuesday, Saudi Arabia and Russia extended voluntary oil supply cuts to year end. Oil prices were down early on rate-hike concerns and investor worries about the economy after data showed the ISM non-manufacturing Purchasing Managers' Index (PMI) came in at 54.5, compared with expectations of 52.5.

Persons: Brent, Bob Yawger, Paul Carsten, Mohi Narayan, Arathy, David Evans, Jason Neely, Nick Zieminski, Nick Macfie, David Gregorio Our Organizations: West Texas, Mizuho, American Petroleum Institute, U.S . Energy, Administration, Labor, Saudi, REUTERS, Brent, PMI, IIR Energy, Thomson Locations: Saudi Arabia, Russia, U.S, Volgograd, Iran, Venezuela, Libya, London, New Delhi, Houston

☆ Russian Putin critics like Prigozhin who met an early death
▼ + stars: | 2023-08-24 | by ( Lauren Said-Moorhouse | ) edition.cnn.com time to read: +14 min

No evidence has been presented that points to the involvement of the Kremlin or Russian security services in the crash. Nemtsov’s death came two days before he was set to lead an opposition rally in the Russian capital. Alexander PerepilichnyyOver the years, suggestions have emerged of the possible use of a rare plant poison in the death of Russian financier Alexander Perepilichnyy. ANDREY SMIRNOV/AFP/AFP/Getty ImagesRussian lawyer Sergei Magnitsky died in a Russian prison in 2009. The most prominent voice of dissent in Putin’s Russia, the lawyer, politician and corruption activist for years orchestrated massive street protests.

Persons: Yevgeny Prigozhin’s, Wagner, –, Bill Browder, “ Putin, Boris Nemtsov, Boris Yeltsin, Ilya Yashin, Nemtsov, Vladimir Putin, ”, Nemtsov’s, Boris Berezovsky Boris Berezovsky, Warrick Page, Boris Berezovsky, Putin, Berezovsky, Alexander Perepilichnyy, Perepilichnyy, Sergei Magnitsky, ANDREY SMIRNOV, Magnitsky, Browder, Alexander Litvinenko Alexander Litvinenko, Alexander Litvinenko, Litvinenko –, Robert Owen, Putin “, Litvinenko, Marina Litvinenko, Anna Politkovskaya, JENS SCHLUETER, Lom, Ali Gaitukayev, Politkovskaya, Chechen Republic …, ” Drownings, Prigozhin, Gennady Lopyrev –, “, Lopyrev, Pyotr Kucherenko, Pavel Antov, Vladimir Budanov, Budanov, Alexander Buzakov, Anatoly Gerashchenko, Ravil Maganov, Lukoil, Maganov “, Alexey Navalny, Navalny, Mikhail Khodorkovsky, Sergei Skripal, Skripal, Yulia Organizations: CNN, Kremlin, Getty, Republican Party of Russia, Party, Newsweek, of Justice, Royal Botanic, AFP, Getty Images, Hermitage Capital, KGB, Authorities, The, Protect Journalists, RIA Novosti, Russia’s, Science, Higher Education, Gazprom, Lukoil, Reuters, Moscow Aviation Institute, TASS, Putin’s United, “ Locations: Russia, Boris Nemtsov Russian, AFP, Moscow, Ukraine, Russian, London's, Europe, England, Soviet Union, Britain, Surrey, London, Kew, American, Chechnya, Leipzig, Germany, The New York, Chechen Republic, Washington, Gelendzhik, ”, Cuba, India, Putin’s Russia, Putin’s United Russia, United States

There is no suggestion the trades break sanctions, although they may make it difficult for sanctions enforcement agencies in Europe and the United States to track Russian oil transactions and prices. The new trading network and practices raise financial risks for Russian oil companies dealing with unknown entities with limited credit history. "We recognise that (sanctions on Russia are) going to change the shape and structure of the Russian oil markets," the official told reporters. In May, Russian seaborne oil supplies to India, which was a rare buyer of Russian oil before the war, reached a record of 1.95 million bpd while China imported 2.29 million bpd. A source with one major Russian oil company said his company was prepared to deal with higher credit risks from buyers for the sake of having stable and rising oil exports.

Persons: Russia's, Rosneft, Everest, Coral, Washington, Lukoil, Dmitry Zhdannikov, Nidhi Verma, Timothy Gardner, Laura Sanicola, Simon Webb, Frank Jack Daniel Our Organizations: NEW, Liberian, Reuters, Shell, Group, European Union, Bellatrix Energy, Leopard, Guron, SEA, Coral Energy, Everest Energy, U.S . Treasury, EU, UK, Treasury, UAE dirham, Shipping, Hindustan Petroleum, Gazprom Neft, Covart Energy, Orion Energy, Media, Rosneft, Nidhi, Thomson Locations: Russia, Ukraine MOSCOW, NEW DELHI, Russia's Ust, Hong Kong, India, Moscow, Asia, Ukraine, Refinitiv, Europe, United States, Australia, China, U.S, UAE, Dubai, Visakhapatnam, Surgutneftegaz, Russian, Geneva, Singapore, Rosneft, Venezuela, MOSCOW, LONDON, Washington, New York

☆ Exclusive: India refiners start yuan payments for Russian oil imports -sources
▼ + stars: | 2023-07-03 | by ( Nidhi Verma | ) www.reuters.com time to read: +5 min

It could not immediately be determined how much Russian oil Indian refiners have bought with yuan, although Indian Oil has paid in yuan for multiple cargoes, sources said. The rise in yuan payments has given a boost to Beijing's efforts to internationalise its currency, with Chinese banks promoting its use specifically for Russian oil trade. Indian refiners have also settled some non-dollar payments for Russian oil in the United Arab Emirates' dirham, sources have said. One private refiner has also been using the same mechanism for payments for Russian oil, one of the sources said. Another state refiner, Bharat Petroleum Corp Ltd (BPCL.NS), is also exploring yuan payment for Russian oil, a separate source said.

Persons: IOC's, Rosneft, Nidhi Verma, Tony Munroe, Tom Hogue Organizations: U.S, Indian Oil Corp, Reliance Industries Ltd, Nayara Energy, HPCL Mittal Energy Ltd, Oil, Gazprom Neft, Reuters, United Arab, State Bank of India, NS Bora, Sun Ship Management, European Union, IOC, ICICI Bank, Bank of China, Bharat Petroleum Corp Ltd, Thomson Locations: DELHI, Russia, Moscow, Ukraine, India, China, Saudi Arabia, Indian, Dubai, United Arab Emirates, Iraq, United Kingdom, Bank, Rosneft, ICICI

☆ Here’s a list of people Putin is suspected of having killed
▼ + stars: | 2023-06-27 | by ( Jeremy Wilson | Taylor Ardrey | ) www.businessinsider.com time to read: +7 min

Putin, a former lieutenant colonel of the KGB and ex-head of the FSB, has been suspected of assassinating critics. Here's a list of people who have been critical of Putin and the Russian president is suspected of assassinating:Top editors give you the stories you want — delivered right to your inbox each weekday. Stanislav Markelov and Anastasia BaburovaHuman-rights lawyer Stanislav Markelov represented Politkovskaya and other journalists who had been critical of Putin. Mark Wilson/Getty ImagesAnna Politkovskaya was a Russian journalist who was critical of Putin. He was killed in 2004 in a drive-by shooting in an apparent contract killing, according to the Committee to Protect Journalists.

Persons: Putin, Here's, —, Pavel Antov, Vyacheslav Kartukhin, Vladimir Putin, Ravil, MIKHAIL KLIMENTYEV, Ravil Maganov, Lukoil, Dan Rapoport, Mikhail Lesin, Lesin, Boris Nemtsov, Alex Wong, Boris Nemtsov Boris Nemtsov, Boris Yeltsin, Putin —, Boris Berezovsky Boris Berezovsky, Berezovsky, Natalia Estemirova Natalia Estemirova, Stanislav Markelov, Anastasia Baburova, Alexander Litvinenko Alexander Litvinenko, Alexander Litvinenko, Litvinenko, Andrei Lugovoi, Dmitry Kovtun, Mr Patrushev, Anna Politkovskaya, Mark Wilson, Paul Klebnikov Paul Klebnikov, Sergei Yushenkov Sergei Yushenkov Organizations: Service, BBC, Regional, United Russia, of Oil Company, Kremlin, SPUTNIK, Getty Images, CNBC, Daily, Police, Russia, FBI, Berkshire, British, Politkovskaya, Russian Embassy, Forbes, Protect Journalists, Liberal, Justice Ministry Locations: Russian, Rayagada, India, Ukraine, Moscow, Russia, Washington ,, Florida, Washington, DC, Sochi, Britain, Chechnya, Politkovskaya, London, Liberal Russia

☆ Prigozhin might want to 'steer clear of any upper floor windows' for now, says military expert: 'When you strike at a king, you must kill him'
▼ + stars: | 2023-06-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

A military expert says Wagner boss Yevgeny Prigozhin "may want to steer clear" of windows. Wechsler added that Prigozhin should remember: "When you strike at a king, you must kill him." Two critics of Putin's war in Ukraine have died in the last year after falling from building windows. He came to an agreement because Putin has long been his patron, not his adversary — the Russian military elite is his adversary," Wechsler told Insider. "In the end, Putin and Prigozhin avoided the kind of conflict that would have risked each or both of them losing everything, but the resulting agreement has diminished them both.

Persons: Wagner, Yevgeny Prigozhin, Wechsler, —, Yevgeny Prigozhin's, Ralph Waldo Emerson's, William F, Prigozhin, Obama, Vladimir Putin, Pavel Antov, Antov, Ravil Maganov, Maganov's, Putin, " Wechsler Organizations: Service, Wagner Group, Rafik Hariri Center and Middle, Atlantic Council, Associated Press, Russian Defense Ministry, BBC, Russian Locations: Rafik, Moscow, Belarus, Ukraine, India, Russia

☆ Exclusive: Russia's VTB may pull out of running for Yandex stake - CEO Kostin
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Maxim ShemetovMOSCOW, June 9 (Reuters) - Russian state-owned lender VTB (VTBR.MM) may pull out of the running to acquire a stake in internet giant Yandex (YNDX.O), the bank's CEO, Andrei Kostin, told Reuters, as discussions are now centered around higher prices than the bank's initial offer. Kostin said he was not sure VTB would continue with its bid. "I am not sure that we will go into Yandex," Kostin told Reuters when asked about plans. "It was announced at $7 billion recently, we submitted our application at a different price level, lower," Kostin said. VTB was hit hard with Western sanctions over Russia's actions in Ukraine, something that limits its ability to front a consortium bid, Kostin said.

Persons: Maxim Shemetov, Andrei Kostin, Kostin, –, Arkady Volozh, VTB, Vladimir Potanin, Vagit Alekperov, Guy Faulconbridge, Elena Fabrichnaya, Alexander Marrow Organizations: Moscow International Business Center, REUTERS, VTB, Reuters, Kostin, Yandex NV, Thomson Locations: Moscow, City, Russia, Maxim Shemetov MOSCOW, Yandex, Ukraine, Yandex's

CNN —A Russian politician died of – as of yet – unknown causes after falling ill on a plane on Saturday, the latest in a string of mysterious deaths among Russian elites. Russia’s Deputy Minister of Science and Higher Education, Pyotr Kucherenko, 46, died while returning from a trip to Cuba on Saturday, according to the ministry. “Kucherenko was feeling ill while on a plane with a Russian delegation that was returning from a business trip to Cuba. Russia's Deputy Minister of Science and Higher Education Pyotr Kucherenko died while returning from Cuba. Mysterious deaths pile upKucherenko’s demise is not the first unexplained Russian death to spark interest.

☆ Lukoil's net profit declines 22% to $1.3 billion in Q1
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: 1 min

Companies NK Lukoil PAO FollowMay 2 (Reuters) - Russian oil company Lukoil (LKOH.MM) posted a net profit under Russian Accounting Standards (RAS) of 104.3 billion roubles ($1.3 billion) in the first quarter of 2023, down 22% from 133.4 billion roubles in the same period 2022. The RAS data does not typically take into account financials from subsidiaries. Russia's second-largest oil producer said that its revenues fell by 63% to 455.83 billion roubles in the January - March period. Lukoil, like many other Russian businesses, stopped publishing their financial results calculated under international standards, after Moscow had sent its troops into Ukraine in February 2022. ($1 = 79.9000 roubles)Reporting by Reuters; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

☆ For the first time since it invaded Ukraine, Russia is expected to start buying Chinese yuan again to replenish its foreign reserves
▼ + stars: | 2023-05-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Russia is likely to start buying Chinese yuan to replenish its FX reserves as soon as May 2023, per Bloomberg Economics. This would be the first time Russia has replenished its FX reserves since it invaded Ukraine. The move indicates that Western sanctions and a G7-led price cap on Russian crude aren't enough to curb Russia's energy revenues. Russia stopped buying foreign currency in late January 2022 due to market volatility, shortly before it invaded Ukraine. US crude oil futures are down 5.8% so far this year to around $76 a barrel, but are up nearly 14% from this year's low of around $67 a barrel.

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