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Search resuls for: "Noah Browning Dmitry Zhdannikov"


2 mentions found


☆ Russia poised to largely skirt new G7 oil price cap
  + stars: | 2022-10-21 | by ( Noah Browning Dmitry Zhdannikov Jonathan Saul | Noah Browning | Dmitry Zhdannikov | ) www.reuters.com   time to read: +6 min
Estimates that 80-90% of Russian oil will continue to flow outside the cap mechanism are not unreasonable, a U.S. Treasury official told Reuters. "Oil traders dealing in Russian oil are no longer in Switzerland, Geneva or London. P&I services heeding EU law insure 95% of the world's shipborne oil trade, meaning the EU move could have halted most of Russia's exports. Insurance and shipping industry figures still saw themselves at risk of sanctions which could upend the trade even in the G7 price cap workaround. The EU ratified the price cap this month but details on implementing it remain forthcoming.
☆ EXCLUSIVE U.S. says Russia oil price cap will not be aimed at OPEC
  + stars: | 2022-10-19 | by ( Noah Browning Dmitry Zhdannikov | Noah Browning | Dmitry Zhdannikov | ) www.reuters.com   time to read: +3 min
A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. Washington has communicated to representatives of the Organization of the Petroleum Exporting Countries (OPEC) to reassure them of those limits to its plans, the official added. The White House said the United States’ analysis showed the cut could have waited until the next OPEC meeting, after the November U.S. midterm elections. But OPEC officials did not link the move to the Russian oil price cap in their discussions with the United States, U.S. Deputy Treasury Secretary Wally Adeyemo said last week. Agreed by G7 nations in September, the price cap plan faced clashing with much stricter European Union bans on Russian shipments ratified in June.
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