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☆ Wounded Russian troops had their medical payouts cut back in one swift move from the Kremlin
▼ + stars: | 2024-11-14 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

The Kremlin introduced new restrictions on Wednesday to medical payouts for Russia's wounded troops, swiftly enacting a decree that allows only those with severe injuries to receive a promised $30,000. Related VideoBut Russian leader Vladimir Putin's new instruction on Wednesday reduces that payout to $10,000 for less severe injuries and $1,000 for other cases. Russia still holds to a law signed by Putin in March 2022 that entitles those who die in the war to about 7.4 million rubles, or $75,000, as well as 5 million rubles, or $50,000, to their families. AdvertisementThose wounded and deemed "unfit for duty" are also entitled to another 2.96 million rubles on top of their injury payout. The UK estimated that as many as 1,500 Russian soldiers were killed or wounded on average for every day of October.

Persons: Vladimir Putin's, Mikhail Mishustin, Putin, Anna Tsivileva Organizations: Kremlin, Business Locations: Russia, Ukraine, Russian, Ukraine's

☆ North Korea fires multiple ballistic missiles toward the sea ahead of U.S. election
▼ + stars: | 2024-11-05 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +5 min

SEOUL, South Korea — North Korea on Tuesday fired multiple short-range ballistic missiles toward its eastern sea, the South Korean military said, as the country continued its weapons demonstrations hours before the U.S. presidential election. South Korea’s Joint Chiefs of Staff said the missiles flew about 250 miles but did not specify how many were fired. The launches came days after North Korean leader Kim Jong Un supervised a flight test of the country’s newest intercontinental ballistic missile designed to reach the U.S. mainland. South Korea’s military intelligence agency said last week that North Korea has also most likely completed preparations for its seventh nuclear test. Experts say North Korea has yet to acquire some critical technologies to build a functioning ICBM, such as ensuring that the warhead survives the harsh conditions of atmospheric re-entry.

Persons: Shigeru Ishiba, Kim Jong Un, Kim Yo Jong, Kim Jong, Donald Trump, Kamala Harris, Harris, Kim, Vladimir Putin’s, Matthew Miller, Moscow’s, Kim Song, Robert Wood, ” Wood, “ We’re, Anna Evstigneeva, “, ” Organizations: South Korean, U.S, Korea’s, Chiefs, Staff, North, United States, Republican, Democratic, Trump ., . State Department, Ukraine, European Union, Security, ” U.S, Korean Locations: SEOUL, South Korea, North Korea, Korea, Japan, Washington, South, U.S, Trump . ”, Russia, Ukraine, Russia’s Kursk, Ukraine’s, Seoul, United States, ”, Russian

☆ Putin says decision to deploy US long-range missiles in Germany is “reminiscent” of Cold War
▼ + stars: | 2024-07-28 | by ( Darya Tarasova | Benjamin Brown | ) edition.cnn.com time to read: +2 min

CNN —Russian President Vladimir Putin has said that the United States’ and Germany’s decision to deploy US long-range missiles in Germany from 2026 is “reminiscent of the events of the Cold War” and could see Russia station similar missiles in response. Putin said that the US and Germany’s decision to begin “episodic deployments” of the long-range missile capabilities from its Multi-Domain Task Force in Germany starting in 2026 would put Russian infrastructure within the reach of the to-be-deployed missiles. “This situation is reminiscent of the events of the Cold War related to the deployment of Pershing medium-range missiles in Europe,” he said. Pershing II missiles, designed to deliver nuclear warheads, were deployed by the US Army at American bases in West Germany from 1983 to the alarm of the then Soviet leadership. They were withdrawn with the introduction of the Intermediate-Range Nuclear Forces Treaty (INF) in 1988.

Persons: Vladimir Putin, ”, Putin, Pershing, Sergei Ryabkov, “, Moscow, DJ Judd Organizations: CNN, Navy, Domain, Force, Pershing, US Army, Soviet, Nuclear Forces Treaty, SM, ” Locations: United States, Germany, Russia, America, St . Petersburg, Europe, West Germany, ”, ” Russia, “ Russia

☆ Oil prices tick down on worries about Chinese demand
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged lower on Tuesday on worries about a slowing Chinese economy crimping demand, though a growing consensus that the U.S. Federal Reserve will begin cutting its key interest rate as soon as September limited declines. Brent futures fell 9 cents, or 0.1%, to $84.76 a barrel by 12:21 GMT, while U.S. West Texas Intermediate crude dropped 13 cents, or 0.2%, to $81.78. China's economy grew much slower than expected in the second quarter, hamstrung by a protracted property downturn and job insecurity. Lower interest rates decrease the cost of borrowing, which can boost economic activity and oil demand. While crisis in the Middle East has not impacted supply, attacks on ships in the Red Sea has forced vessels to take longer routes, meaning oil remains on the water for longer.

Persons: Brent, Jerome Powell, Alexander Novak Organizations: U.S . Federal Reserve, U.S, West Texas, Organization of, Petroleum Locations: Yemen, Gaza, Russian, OPEC

☆ Russia Vows ‘Military Response’ to U.S. Missile Deployments in Germany
▼ + stars: | 2024-07-11 | by ( Ivan Nechepurenko | Paul Sonne | ) www.nytimes.com time to read: +1 min

Russia is preparing military countermeasures in response to the planned American deployment of longer-range missiles in Germany, the Russian deputy foreign minister said on Thursday, adding that the U.S. move was “destructive to regional safety and strategic stability.”“Without nerves, without emotions, we will develop a military response, first of all, to this new game,” the deputy minister, Sergei A. Ryabkov, told Interfax, a Russian news agency. In a separate comment published by the Russian Foreign Ministry, Mr. Ryabkov said that Moscow had anticipated the decision and that Russia had started preparing “compensating countermeasures” in advance. In a joint statement, the United States and Germany said Washington would begin “episodic deployments” of the missiles in Germany in 2026, including those that are “significantly longer range” than the ones currently deployed throughout Europe.

Persons: ”, Sergei A, Ryabkov Organizations: Russian Foreign Ministry Locations: Russia, Germany, U.S, Russian, Moscow, United States, Washington, Europe

☆ Russia will increase the number of military instructors in Burkina Faso, foreign minister says
▼ + stars: | 2024-06-05 | by ( Anneclaire Stapleton | Sebastian Shukla | ) edition.cnn.com time to read: +2 min

CNN —Russia will increase the number of military instructors in Burkina Faso, Russian Foreign Minister Sergey Lavrov said on Wednesday during a trip to the West African nation. “Here, Russian instructors are working; their number will increase.”Russia furthermore intends to supply Burkina Faso with military products to strengthen the country’s defense capability, he said. Burkina Faso is currently under military rule after a junta staged a coup d’état in July 2022. Engulfed in violence, Burkina Faso has been named the world’s most neglected displacement crisis for the second year, by the NRC. Burkina Faso was the first country to do this quickly and effectively,” he said.

Persons: Sergey Lavrov, ” Lavrov, Lavrov, Ibrahim Traoré, Yevkurov, Traoré, Thomas Waldhauser, ” Organizations: CNN, Russian, Russian Federation, Russian Deputy Defense, Norwegian Refugee Council, NRC, US Africa Command, Africa Command Locations: Russia, Burkina Faso, West African, Russian, Ouagadougou, “, China, Africa, Ukraine, ”

☆ Kremlin warns Washington of 'fatal' miscalculation to let Kyiv use U.S.-supplied weapons inside Russia
▼ + stars: | 2024-06-03 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

An employee of the Kharkiv prosecutor's office collects fragments of an aerial bomb for further analysis on April 30, 2024 in Kharkiv, Ukraine. Russian Deputy Foreign Minister Sergei Ryabkov on Monday warned the U.S. against the potential "fatal consequences" of allowing Kyiv to deploy U.S.-supplied weapons against targets inside Russia. He noted that Russian President Vladimir Putin had repeatedly addressed the topic, giving "a very significant warning, and it must be taken seriously, with the utmost seriousness." Last week, U.S. Secretary of State Antony Blinken said the White House had approved a Ukrainian request to deploy U.S.-supplied weapons against targets in Russian territory, on the border near Ukrainian city Kharkiv. "I'm not sure that for today we have [the] possibility to use these jets on the territory of Russia, we will see.

Persons: Sergei Ryabkov, Ryabkov, Vladimir Putin, Antony Blinken, what's, we've, Blinken, you've, he's, Volodymyr Zelenskyy, Emmanuel Macron —, Radoslaw Sikorski, I'm, Zelenskyy Organizations: Google, White, Russian, Associated Press, The, NATO, Ukraine Locations: Kharkiv, Ukraine, Russian, Russia, Ukrainian, Sweden, Germany, The U.S, Iran, Tehran

☆ Russia’s Victory Day parade masks simmering tensions inside Putin’s government and beyond
▼ + stars: | 2024-05-09 | by ( Nathan Hodge | ) edition.cnn.com time to read: +7 min

CNN —Russian President Vladimir Putin presided over a pared-back Victory Day parade Thursday, showcasing his country’s unity and resolve to continue the war on Ukraine. But since Russia launched its full-scale invasion of Ukraine, the massive military parade has been somewhat downsized. “The fate of the motherland, its future depends on each of us … We celebrate Victory Day in the context of the special military operation. All of Russia is with you!”But this year’s Victory Day is also happening against the background of a bribery scandal roiling Russia’s Ministry of Defense. Under Putin, Victory Day has assumed greater importance in national life.

Persons: Vladimir Putin, Putin, Putin —, “, ”, Timur Ivanov, Mikhail Klimentyev, Alexander Nemenov, Ivanov, Sergei Shoigu, Shoigu’s protégé, —, Alexey Navalny, Stanislav Krasilnikov, Maria Pevchikh, that’s Organizations: CNN, Nazi, “, Ministry of Defense, Defence, Sputnik, Getty, Financial, Corruption Foundation, AP, ACF, Prestige, — Locations: Ukraine, Russia, Nazi Germany, Russian, It’s, AFP, Mariupol, Putin’s Russia, Sochi, Moscow

☆ Timur Ivanov: Russian deputy defense minister detained on suspicion of bribery
▼ + stars: | 2024-04-24 | by ( Jessie Gretener | Darya Tarasova | ) edition.cnn.com time to read: +2 min

CNN —Russian Deputy Defense Minister Timur Ivanov appeared in a Moscow court Wednesday after he was detained for allegedly taking a bribe, Russia’s Investigative Committee said. Ivanov is suspected of accepting a bribe of 1 million rubles (at least $10,800), Russian state media TASS reported, and faces up to 15 years in prison if convicted. Video released by Russian state news agency RIA Novosti showed Ivanov standing in a glass box in the Moscow courtroom. The deputy defense minister has been seen as a senior architect of Russia’s invasion of Ukraine, becoming the subject of European Union and US sanctions. Ivanov, pictured at a Moscow court on April 24, could face up to 15 years for allegations of bribery.

Persons: Timur Ivanov, Ivanov, Alexey Navalny’s, Maria Pevchikh Organizations: CNN, Russian, TASS, RIA Novosti, European Union, Anadolu, Getty, Corruption Foundation, Ministry of Defense, ”, ACF, Russian Ministry of Defense Locations: Moscow, Ukraine, Basmanny

☆ Ukraine war live updates: Relief in Kyiv as Biden set to sign U.S. aid package; Russian official detained on bribe allegations
▼ + stars: | 2024-04-24 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

Russian law enforcement have detained Deputy Defence Minister Timur Ivanov on suspicion of taking bribes, Russia's Investigative Committee said on April 23, 2024. A Russian deputy defense minister in charge of military construction has been detained on Tuesday on suspicion of "large-scale" bribe-taking, in one of the highest-profile corruption cases since Moscow launched its war in Ukraine. A brief statement by the Investigative Committee, Russia's top investigative body, said late on Tuesday that Timur Ivanov had been taken into custody and an investigation into his case was proceeding. Defense Minister Sergei Shoigu had been informed in advance of his detention, he said. Russian news reports also said Ivanov was likely the most senior Russian official to face such charges since Moscow launched its invasion of Ukraine in February 2022.

Persons: Vladimir Putin, Sergei Shoigu, Timur Ivanov, Ivanov, Alexei Navalny, Dmitry Peskov, — Organizations: Sputnik, Russian, Defense, Investigative, Russia's, Corruption Foundation, Kremlin Locations: Russian, Kubinka, Moscow, Ukraine, Ukrainian, Mariupol, Russia

☆ Russian Deputy Defense Minister Is Detained on Bribery Charges
▼ + stars: | 2024-04-23 | by ( Neil Macfarquhar | ) www.nytimes.com time to read: +1 min

A deputy minister of defense in Russia has been detained on charges of taking a “large scale” bribe, the country’s top law enforcement investigators announced on Tuesday. The brief announcement from the Investigative Committee divulged few details about what had led to Timur Ivanov, the deputy minister, being taken into custody. But the legal statute that he is accused of violating is for taking a bribe “on a particularly large scale,” more than one million rubles, or more than $10,000. The Ministry of Defense did not comment on the investigation. Mr. Ivanov, a deputy defense minister since 2016, had long been in charge of military construction projects, including most recently the huge contracts awarded to rebuild the Russian-occupied eastern Ukrainian city of Mariupol, which was devastated by Russian attacks soon after the February 2022 invasion.

Persons: Timur Ivanov, Ivanov Organizations: Ministry of Defense, Merit, Fatherland Locations: Russia, Ukrainian, Mariupol, Moscow, Russian

☆ Russia-Ukraine war live updates: Russian drone attack kills rescue workers in Kharkiv; Russia says NATO dialog at 'zero' but does not seek conflict
▼ + stars: | 2024-04-04 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Military experts operate at the site of a Russian aerial bombing of a high-rise residential building in the Shevchenkivskyi district on March 27, 2024 in Kharkiv, Ukraine. Russian drone strikes on Kharkiv early Friday morning killed at least four people, including three rescue workers, and injured 12 more, according to Ukrainian officials. A repeat attack on a separate area of Ukraine's second-largest city killed three rescue workers who had arrived on the scene after the first strike, he added. As NATO foreign ministers gather in Brussels to mark the defense alliance's 75th anniversary, Russian Deputy Foreign Minister Alexander Grushko told state news agency RIA that dialog with Moscow had been reduced to a "critical zero" by Washington and Brussels. Grushko reportedly said relations were "predictably and deliberately" deteriorating, but that Russia has no intention of entering into open conflict with any NATO member.

Persons: Igor Terekhov, Alexander Grushko, Grushko Organizations: Kharkiv, NATO Locations: Shevchenkivskyi, Kharkiv, Ukraine, Russian, Brussels, Moscow, Washington, Russia

☆ Oil holds onto gains as investors bet on tighter supply
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged down slightly on Monday, holding on to most of their recent gains amid expectations of tighter supply from OPEC+ cuts, attacks on Russian refineries and upbeat Chinese manufacturing data. Brent crude fell 17 cents, or 0.2%, to $86.83 a barrel by 0017 GMT after rising 2.4% last week. Drone attacks knocked out several Russian refineries, which is expected to reduce Russia's fuel exports. In Europe, oil demand was firmer than expected, rising 100,000 bpd on year in February, Goldman Sachs analysts said, versus its forecast of a 200,000 bpd contraction in 2024. Investors are also scouring U.S. economic data for signs of when the Federal Reserve will cut interest rates this year which will support the global economy and oil demand.

Persons: Brent, Alexander Novak, Goldman Sachs Organizations: . West Texas, of, Petroleum, bbl, Federal Reserve Locations: New Mexico, U.S, OPEC, Russian, Europe, 2024Q4

☆ Russia is betting big on Cuba as it courts alternative economic partners
▼ + stars: | 2024-03-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Russia is expanding its economic and trade ties with Cuba, per TASS. Russia has been pivoting to alternative markets in the face of Western sanctions. Cuba — which has been sanctioned by the US for decades — has been in an economic crisis since the COVID-19 pandemic. AdvertisementRussia has set its sights on broader economic and trade ties with Cuba. The companies are involved in various sectors including heavy industry, energy, banking, agriculture, IT, and tourism, Chernyshenko said at an intergovernmental meeting between Russia and Cuba.

Persons: —, Dmitry Chernyshenko, Chernyshenko Organizations: Service, TASS Locations: Russia, Cuba, Russian

☆ Saudi Arabia, Russia and several OPEC+ producers extend voluntary crude supply cuts until end of June
▼ + stars: | 2024-03-03 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman al-Saud gesture upon his arrival at the 8th OPEC International Seminar in Vienna on July 5, 2023Heavyweights Saudi Arabia and Russia, alongside several other key OPEC+ producers, will extend their voluntary crude supply cuts until the end of the second quarter. Saudi Arabia will stretch out its voluntary crude production cut of 1 million barrels per day until the end of the second quarter, the state-owned Saudi Press Agency said Sunday, citing an official source from the country's Ministry of Energy. Riyadh's crude production will be approximately 9 million barrels per day until the end of June, the announcement said. Back in November, OPEC+ countries had held a formal policy of collectively reducing their output by 2 million barrels per day until the end of 2024. Unlike formal policy changes, voluntary cuts do not require the group's unanimous consent during an official meeting and bypass the need to distribute production cuts or increases among OPEC+ members.

Persons: Energy Prince Abdulaziz bin Salman al, Saud, Alexander Novak, —, Prince Abdulaziz bin Salman Organizations: Saudi, Energy, OPEC, Organization for, Petroleum, Saudi Press Agency, country's Ministry of Energy, Tass, Moscow, Google, INA, Hamas, Saudi Energy Locations: Vienna, Saudi Arabia, Russia, OPEC, Riyadh, Moscow, Russian, Iraq, UAE, Iran, Gaza, China, Aramco

☆ How Russia has avoided bankrupting itself after 2 years of waging war in Ukraine
▼ + stars: | 2024-02-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +9 min

1: By waging war outside its own bordersOne critical reason Russia's economy is still ticking is because of the location of the war. AdvertisementConsider the impact of the war on the economies of both Russia and Ukraine. In 2022, the first year of the war, Russia's economy contracted 1.2%, according to official statistics. Russia was facing a demographic crisis with a declining population and falling fertility rate even before its war with Ukraine. 4: By stimulating and steadying its economy with subsidies and policiesGovernment subsidies, spending, and policies are also propping up Russia's economy.

Persons: —, Hassan Malik, Loomis Sayles, it's, Malik, Vladimir Putin's, Sergei Guriev, Malik isn't, Alex Isakov, Putin, Alexandra Prokopenko Organizations: Service, Business, Reuters, US, Exchange, European Bank for Reconstruction, Bloomberg Economics, Vienna Institute for International Economic Studies Locations: Russia, Moscow, Boston, Crimea, Ukraine, Russian, China, India, Austrian

☆ Russia's Wagner Group expands into Africa's Sahel with a new brand
▼ + stars: | 2024-02-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Natalia Kolesnikova | Afp | Getty ImagesWagner Group has been replaced by a new entity known as Russia's Africa Corps across its key strongholds in the continent, its new leader has confirmed. The new entity has been subsuming operations in Mali and Libya for several months, and negotiations to establish a Russian military base in the CAR are reportedly underway. watch now"The Africa Corps consists of mercenaries and volunteers, and does not form part of the Russian Armed Forces. It began recruiting in December 2023, and has also included job offers for former Wagner Group mercenaries; it may also recruit local residents," they explained. Russian Deputy Defense Minister Yunus-bek Yevkurov oversaw the creation of the Africa Corps, which is expected to be fully completed by this summer.

Persons: Wagner, Yevgeny Prigozhin, Natalia Kolesnikova, Dmitry Utkin, Anton Yelizarov, Ibrahim Traoré, Piotr Żochowski, Miłosz Bartosiewicz, Yunus, bek Yevkurov, Yevkurov Organizations: Afp, Getty, Wagner, Africa Corps, Central African, Russian National Guard, Russian Federation, Telegram, Centre, Eastern Studies, CAR, Africa, Russian Armed Forces, Wagner Group, CES Locations: MOSCOW, Moscow, Central African Republic, Libya, Mali, Sudan, Burkina Faso, Belarus, Russia, Cossack, Sahel, Russian, Warsaw, Algeria, Africa, Ouagadougou

☆ Russia Ready to Discuss Gas Supplies With EU as Ukraine Transit Deal Expires -Agencies
▼ + stars: | 2024-01-27 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

MOSCOW (Reuters) - Russia is ready to hold talks with the European Union on natural gas supplies as a transit deal with Ukraine expires at the end of 2024, Russian Deputy Prime Minister Alexander Novak was quoted as saying by several news agencies on Saturday. Under a five-year deal agreed between Moscow and Kyiv in 2019, Russia is exporting gas to Europe via Ukraine and pays Ukraine for the usage of its pipeline network. The arrangement has continued despite the start of Russia's war in Ukraine in February 2022, although Russian gas deliveries to Europe have plummeted since then. A European Union official on Friday declined to speculate on whether the Ukraine transit deal would be extended beyond the end of 2024, but said the bloc was assessing all scenarios to ensure its preparedness. But the Kremlin-controlled gas pipeline exporting monopoly Gazprom still continues shipping gas via Ukraine.

Persons: Alexander Novak, Novak, Clelia Oziel Organizations: European Union, RIA, Gazprom Locations: MOSCOW, Russia, Ukraine, Russian, Moscow, Kyiv, Europe

☆ Russia and Niger Agree to Develop Military Ties, Moscow Says
▼ + stars: | 2024-01-16 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Russia and Niger, under military rule since a coup last year, have agreed to develop military cooperation, the Russian Defense Ministry said on Tuesday. According to Russian news agencies, Russian Deputy Defense Ministers Yunus-Bek Yevkurov and Alexander Fomin met Niger's junta-appointed Defense Minister Salifu Modi on Tuesday. Niger's military council, led by General Abdourahamane Tiani, took power after ousting President Mohamed Bazoum in July 2023. Niger's junta-appointed Prime Minister Ali Mahamane Lamine Zeine has also arrived in Moscow. During the visit, Zeine intends to discuss widening a partnership with Russia in the areas of defense, agriculture and energy.

Persons: Yunus, Bek Yevkurov, Alexander Fomin, Salifu Modi, General Abdourahamane Tiani, Mohamed Bazoum, Ali Mahamane Lamine Zeine, Zeine, Maxim Rodionov, Ron Popeski, Jonathan Oatis Organizations: Reuters, Russian Defense Ministry, Russian, Niger's, European Union Locations: Russia, Niger, Russian, Niger's, Moscow, United States, Europe, China

☆ U.S. crude oil falls below $70 a barrel, closing at the lowest level since June
▼ + stars: | 2023-12-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

U.S. crude declined 4% on Wednesday, closing at the lowest level since late June with retail gasoline prices hitting the lowest point since January just ahead of the holiday shopping and travel season. Meanwhile, U.S. data on Wednesday sent a mixed picture on demand with crude inventories falling while gasoline stocks rose. U.S. crude inventories fell by 4.6 million barrels for the week ending Dec. 1 but gasoline inventories rose by 5.4 million barrels, according to the Energy Information Administration. Several OPEC+ members announced the voluntary cuts last week after the group failed to reach a unanimous agreement on production targets. Tamas Varga, an analyst with PVM Oil Associates, said those reassurances have "fallen to deaf ears."

Persons: Brent, Prince Abdulaziz bin Salman, Alexander Novak, Tamas Varga Organizations: West Texas Intermediate, AAA, Hamas, Wednesday, Energy Information Administration, Saudi Energy, PVM Oil Associates Locations: Washington , DC, U.S, OPEC, Moody's, Israel, Russia, Russian

☆ Oil prices fall on China concerns, skepticism on OPEC+ cuts
▼ + stars: | 2023-12-06 | by ( ) www.cnbc.com time to read: +2 min

An aerial view of a crude oil storage facility is seen on May 4, 2020 in Cushing, Oklahoma. Oil prices fell in Wednesday Asian morning trading as markets continue to doubt the impact of OPEC+ cuts and take cues from a worsening demand outlook in China. U.S. WTI crude futures were down 13 cents, or 0.2%, at $72.19 a barrel. China will release preliminary trade data, including crude oil import data, on Thursday. Gasoline stockpiles gained by 2.8 million barrels, while distillate inventories rose nearly 1.9 million barrels.

Persons: Alexander Novak, Vladimir Putin, Moody's Organizations: Brent, Organization of, Petroleum, United Arab Emirates, American Petroleum Institute Locations: Cushing , Oklahoma, China, Russia, OPEC, Saudi, Russian, Saudi Arabia, U.S

☆ Oil prices fall, extend slide after OPEC+ cuts underwhelm
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: +2 min

An oil pumpjack pulls oil from the Permian Basin oil field in Odessa, Texas, on March 14, 2022. Oil prices fell in early Asian trade on Friday, extended losses after OPEC+ producers agreed to voluntary oil output cuts for the first quarter next year that fell short of market expectations. OPEC+'s output of some 43 million bpd already reflects cuts of about 5 million bpd aimed at supporting prices and stabilizing the market. The total curbs amount to 2.2 million bpd from eight producers, OPEC said in a statement after the meeting. Included in this figure is an extension of the Saudi and Russian voluntary cuts of 1.3 million bpd.

Persons: Alexander Novak Organizations: Brent, . West Texas, OPEC, Saudi Locations: Odessa , Texas, Saudi Arabia, Russia, UAE, Iraq, Kuwait, Kazakhstan, Algeria

☆ Oil kingpin Saudi Arabia extends its production cut into first quarter as OPEC+ holds policy
▼ + stars: | 2023-11-30 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

The logo of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, on Thursday, July 6, 2023. The OPEC+ alliance had already instituted a 2 million barrel per day cut in place until the end of 2024, with several coalition members voluntarily pledging a further 1.66 million barrel per day decline over that same period. While OPEC+ has not formally endorsed production reductions, market participants are following the possibility of further voluntary cuts announced by key participants to the coalition. Close Saudi ally Kuwait will enforce a 135,000 barrel per day reduction in the first quarter, while the Energy Ministry of OPEC member Algeria said it would trim a further 51,000 barrels per day. Oman said it will also reduce output by 42,000 barrels per day in that same period.

Persons: Alexander Novak Organizations: Organization of, Petroleum, of, OPEC, Energy Ministry Locations: Vienna, Austria, OPEC, Saudi Arabia, Nigeria, Angola, Congo, Saudi, Riyadh, Moscow, Kuwait, Algeria, Oman

☆ Russia's Ryabkov warns US against entering new arms race
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

Sergei Ryabkov, Russia's deputy foreign minister in charge of ties with the U.S., non-proliferation and arms control, told the Izvestia daily that present circumstances were not "conducive" to arms talks with Washington. "If the United States expects to win the next arms race, repeating to some extent the experience of the presidency of Ronald Reagan ... then the Americans are mistaken," Izvestia cited Ryabkov as saying. Russia's ties with many Western countries deteriorated after its full-scale invasion on Ukraine in February 2022, with Moscow now saying it is fighting what it calls the "collective West" in Ukraine. Ryabkov reiterated Russia's position that Moscow was not threatening a military conflict with NATO, but said a possible escalation depended on the action of the alliance. "The situation is not conducive to exchanging signals (on arms controls), even on such key issues," Ryabkov said.

Persons: Sergei Ryabkov, Vladimir Putin, Ronald Reagan, Izvestia, Ryabkov, Lidia Kelly, Stephen Coates Organizations: Sputnik, NATO, U.S, Washington, Thomson Locations: Russia, Ukraine, Israel, Moscow, United, Washington, Russian, Melbourne

☆ Finland to close last operating checkpoint on Russian border
▼ + stars: | 2023-11-28 | by ( Eve Brennan | ) edition.cnn.com time to read: +4 min

CNN —Finland will close the last operating checkpoint on its Russian border on Thursday, entirely shutting off the NATO country’s eastern border with Russia for two weeks. In Tuesday’s press release, Finland’s interior ministry said entry into Finland at the eastern border has continued despite restrictions. “Since the beginning of August, almost 1,000 third-country nationals have arrived in Finland without a visa via the border crossing points at the eastern border. He welcomed the move by the European Union’s border agency, Frontex, to deploy 50 guards along the Finnish border. Earlier this year, the Finnish Border Guard also began the pilot phase of constructing an eastern border barrier fence along some key parts of the border.

Persons: Petteri Orpo, Mari Rantanen, Alexander Grushko, ”, Grushko, “, Jens Stoltenberg, ” Stoltenberg, Stoltenberg, Vladimir Putin’s “ Organizations: CNN, NATO, Finland’s Ministry, Internal Affairs, Finland’s, Finnish Border Guard, Government Locations: Finland, Russia, Helsinki, Ukraine, ”, Russian, Moscow, “, Finnish, Brussels, European

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