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Search resuls for: "Clare Sebastian"


7 mentions found


☆ Russia’s economy is hurting despite Putin’s bluster
  + stars: | 2023-02-22 | by ( Julia Horowitz | ) edition.cnn.com   time to read: +9 min
Russia’s economy did weaken as a result. “The Russian economy and system of government have turned out to be much stronger than the West believed,” Putin said in a speech to Russia’s parliament Tuesday. The bloc, which dramatically reduced its dependence on Russian natural gas last year, officially banned most imports of Russian crude oil by sea in December. Russia’s oil problemIn fact, Russia’s export revenue from oil rose last year. On the declineThe International Monetary Fund still expects Russia’s economy to expand by 0.3% this year and 2.1% the next.
☆ Ruble hits 8-month low against dollar, as falling oil prices and sanctions bite
  + stars: | 2022-12-29 | by ( Clare Sebastian | ) edition.cnn.com   time to read: 1 min
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☆ The West is struggling to set an oil price cap that hurts Russia
  + stars: | 2022-11-25 | by ( Julia Horowitz | ) edition.cnn.com   time to read: +6 min
Putin said Thursday that Western plans to introduce oil price caps would have “grave consequences” for energy markets. The oil price cap aims to amend that policy. Shipping services and insurance could be provided to tankers transporting Russian oil — so long as it’s purchased at or below the price cap established by Western nations. “But reality will be different.”Some analysts think the price cap will ultimately be less important than Europe’s oil embargo. “Due to the EU oil embargo and the planned price cap on oil from Russia, oil production there is likely to be significantly curtailed,” Commerzbank said in a note to clients.
☆ Watch: Mystery leaks in Nord Stream pipelines spark sabotage concerns
  + stars: | 2022-09-27 | by ( ) edition.cnn.com   time to read: 1 min
Unexplained leaks in multiple Nord Stream pipelines may cause problems for Europe as gas prices begin to increase. Experts and also Russia, which built the network of gas pipelines, said the possibility of sabotage could not be ruled out. CNN's Clare Sebastian reports.
☆ Graphic shows rate of people fleeing Russia after news of Putin's partial mobilization
  + stars: | 2022-09-22 | by ( ) edition.cnn.com   time to read: 1 min
Protests erupted on the streets of Russia after Putin announced a partial mobilization of citizens. Some protesters are clashing with police and reportedly being immediately conscripted, while other Russians are seeking to flee the country. CNN's Clare Sebastian reports.
☆ Cheaper oil and Ukraine war are blowing a hole in Russia's finances
  + stars: | 2022-09-15 | by ( Clare Sebastian | ) edition.cnn.com   time to read: +1 min
London (CNN Business) There are new signs of strain in the Russian economy as energy prices fall and nearly seven months of war in Ukraine prove increasingly costly. Russia's budget surplus all but disappeared over the summer, according to data published by the Russian finance ministry this week. Oil is traditionally a bigger component of the Russian budget than natural gas, and Brent crude prices — the European benchmark — have fallen about 25% since their peak in early June. That's a big hit, even before an EU embargo on Russian seaborne oil imports, and a planned G7 price cap come into force in December. And while natural gas prices in Europe remain extraordinarily high, Russia's gas deliveries to the European Union and United Kingdom have dropped by 49% since the beginning of the year, Gazprom said last week.
☆ Russia finances hit by cheaper oil and costs of Ukraine war
  + stars: | 2022-09-15 | by ( Clare Sebastian | ) edition.cnn.com   time to read: +2 min
London CNN Business —There are new signs of strain in the Russian economy as energy prices fall and nearly seven months of war in Ukraine prove increasingly costly. Russia’s budget surplus all but disappeared over the summer, according to data published by the Russian finance ministry this week. Oil is traditionally a bigger component of the Russian budget than natural gas, and Brent crude prices — the European benchmark — have fallen about 25% since their peak in early June. That’s a big hit, even before an EU embargo on Russian seaborne oil imports, and a planned G7 price cap come into force in December. And while natural gas prices in Europe remain extraordinarily high, Russia’s gas deliveries to the European Union and United Kingdom have dropped by 49% since the beginning of the year, Gazprom said last week.
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