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☆ Boeing converted its 767 airliner into a military tanker that can refuel other planes midair — meet the KC-46A Pegasus
▼ + stars: | 2023-07-04 | by ( Taylor Rains | ) www.businessinsider.com time to read: +2 min

Boeing's newest military tanker is the KC-46A Pegasus, which can refuel other planes in midair. Boeing is one of the world's leading defense manufacturers providing advanced military aircraft for the US armed forces and allied nations. While Boeing's defense arm is military-focused, it has used its commercial planes as a blueprint for production. One of its biggest — yet controversial — jets is the KC-46A Pegasus aerial refueling tanker, which was derived from the Boeing 767 widebody airliner. The Pegasus is Boeing's newest air refueler, having started production in February 2011 and sending its first to the US Air Force in January 2019.

Organizations: KC, US Air Force, USAF Pegasus, Paris Airshow, Boeing, Department of Defense, Pegasus, USAF

☆ Trans Mountain pipeline expansion likely to send more Canadian oil to US, not Asia
▼ + stars: | 2023-07-04 | by ( Nia Williams | ) www.reuters.com time to read: +3 min

Western sanctions on Russian crude following its invasion of Ukraine have upended those plans. Canadian barrels will struggle to compete, analysts and traders said. Chinese oil refiners PetroChina (601857.SS) and Sinopec (600028.SS) have bought and processed Canadian heavy crude in the past. Russia's Urals crude produces higher volumes of fuel and is significantly cheaper than heavy Canadian barrels, said one Calgary-based crude trader. "Today every crude in Asia is having a hard time competing with Russian crude," York said.

Persons: crudes, TMX, John Coleman, Wood Mackenzie, Skip York, York, Nia Williams, Florence Tan, David Gregorio Our Organizations: U.S ., Canadian, Sinclair, Puget Sound, U.S . Energy, Administration, Turner, Mason & Company, Reuters, Thomson Locations: U.S . West Coast, Asia, Ukraine, Canada, United States, Russia, Alberta, British, Pacific Coast, North America, China, India, Calgary, Canadian, Iraq, California, York, Moscow, Basra, British Columbia, Singapore

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Carnival, Snowflake, Nike, SolarEdge and more
▼ + stars: | 2023-06-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Jefferies upgrades Carnival to buy from hold Jefferies said it sees a "confluence of positive dynamics" for Carnival. Citi initiates Apple as buy Citi said it sees further upside for the tech giant, slapping a Street-high $240 price target. Citi initiates Dell as buy Citi said the computer maker is gaining share. Goldman Sachs reiterates Nike as buy Goldman Sachs said it's standing by shares of Nike after the company's earnings report Thursday. " Bank of America reiterates T-Mobile as buy Bank of America said the stock is "undervalued."

Persons: TD Cowen, Cowen, Goldman Sachs, Goldman, Jefferies, Snowflake, Virgin, Daiwa, NKE, Stephens, SolarEdge, Riley, Stifel, Davidson Organizations: Citi, Pacific Biosciences, Pacific Bioscience, Jefferies, Deutsche Bank, Apple, Dell, Bank of America, Virgin Galactic, underperform Bank of America, Virgin Galactic's, Italian Air Force, AMD, Intel, Nike, BMO, FirstService Brands, Occidental Petroleum, Mobile, Southwestern Energy Locations: 3Q23, China, Occidental, midstream

☆ How a dysfunctional mission in the Caribbean became 'the pivotal point' for the creation of US Special Operations Command
▼ + stars: | 2023-06-27 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +9 min

Those problems helped spur the creation of US Special Operations Command several years later. According to Maj. Gen. Richard Scholtes, the first commander of Joint Special Operations Command, US military officers involved in the planning soon butted heads. A task force of Delta Force operators, Rangers, and helicopters from the elite 160th Special Operations Aviation Regiment also attacked Fort Rupert and Richmond Hill Prison. Bettmann/Getty Images"The Pentagon was waging a frontal and rear assault in opposition to the creation of a special operations command," William Cohen said in the mid-2000s, according to Kukielski's article. Stavros Atlamazoglou is a defense journalist specializing in special operations, a Hellenic Army veteran (national service with the 575th Marine Battalion and Army HQ), and a Johns Hopkins University graduate.

Persons: —, Peter Carrette, Eagle, JSOC, Reagan, Richard Scholtes, butted, jean, Louis Atlan, Scholtes, Philip Kukielski, frogmen, Fort, Paul Scoon, Bettmann, Formally, William Cohen, Cohen, Nunn, Eric BOUVET, SOCOM, Chance, Stavros Atlamazoglou Organizations: Operations Command, Service, Fury, Pentagon, Delta Force, Soviet Union, Getty, US Atlantic Command, Atlantic Command, US Marine Corps, CIA, State Department, Team, Air Commando, US Defense, Rangers, 2nd Ranger, Porto Salines, Marines, 160th Special Operations Aviation Regiment, Radio Free, US, Dover Air Force Base, Special Warfare, Craft, 160th, American, Hellenic Army, 575th Marine Battalion, Army, Johns Hopkins University, Johns Hopkins, School, International Locations: Grenada, Caribbean, Tehran, Cuba, Soviet, Richmond, Porto, Fort Rupert, Rupert, Radio Free Grenada, Grenada's, Point Salinas, Scholtes, Beirut, Grenada —, Persian, Johns

☆ British bombers pulled off a raid on the other side of the planet in the UK's first major conflict since World War II
▼ + stars: | 2023-06-25 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +10 min

So the British air force devised an ambitious but complex plan for long-range bomber raids. A daring planBritish troops surrender to Argentine forces in Port Stanley in April 1982. Logistical issuesAn RAF Vulcan bomber at Wideawake airfield on Ascension Island. The military airstrip at Port Stanley after a British air raid in May 1982. AftermathRoyal Marines with the Falkland Islands flag in Port Stanley after the Argentine surrender in June 1982.

Persons: —, Rafael WOLLMANN, Sir Michael Beetham, Beetham, Black Buck, Port Stanley, Victor, Martel, Buck, Vulcan, Eduardo Farre, Buck Six, Black Buck Seven, Steve Buckley, Japan's Organizations: Falklands, British, Service, British Royal Air Force, South Atlantic, Getty, RAF, Argentine, Port Stanley, Avro Vulcans, Handley, Avro Vulcan, Royal Air Force, Vulcans, Atlantic, US, Port, Ascension, Argentina's TPS, Vulcan, Harriers, TPS, REUTERS, Royal, Royal Navy Locations: Argentina, South, Falkland, Buenos Aires, British, Argentine, Port Stanley, Port, Ascension, Brazil, Rio de Janeiro, Iraq, Balkans, Afghanistan

☆ Montana bridge collapse sends tank cars into Yellowstone River
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +1 min

June 24 (Reuters) - A bridge in Montana collapsed into the Yellowstone River early on Saturday, landing multiple rail cars in the water, officials said. Montana Rail Link, the company operating the train, said in a statement that "several hazmat cars" plunged into the river. The rail cars were carrying asphalt and molten sulfur, substances that quickly solidify when they come in contact with cooler temperatures, the company said. Two cars transporting sodium hydro sulfate, an acid salt, did not enter the water and initial air quality assessments indicate the chemical was not released from the cars, Montana Rail Link said. Montana Fish, Wildlife & Parks said the derailment and bridge collapse led to the closure of parts of the Yellowstone and Stillwater Rivers.

Persons: Maria Caspani, Richard Chang Organizations: Montana Rail, Montana Rail Link, Montana Fish, Wildlife, Parks, Thomson Locations: Montana, Billings, Reed Point, Stillwater County, Yellowstone, Stillwater Rivers

☆ Drought-hit Panama Canal further restricts maximum ship depth
▼ + stars: | 2023-06-22 | by ( Elida Moreno | ) www.reuters.com time to read: +2 min

[1/2] Monrovia NSU CHALLENGER bulk carrier transits the expanded canal through Cocoli Locks at the Panama Canal, on the outskirts of Panama City, Panama April 19, 2023. REUTERS/Aris Martinez/File PhotoPANAMA CITY, June 21 (Reuters) - The Panama Canal will expand restrictions on the largest ships crossing the waterway, one of the world's busiest trade passages, the canal authority's administrator said on Wednesday, citing shallower waters due to drought. Ship traffic, including container ships and oil tankers, using the canal between the Atlantic Ocean and Pacific Ocean accounts for about 3.5% of global trade. Despite the new rules limiting ships' weight, Vasquez said the flow of ships through the canal has carried on as expected so far. The limits will not affect liquefied natural gas (LNG) carriers, as they typically report drafts of up to 37 feet, according to the canal authority.

Persons: Aris Martinez, Ricaurte Vasquez, Vasquez, Eli Moreno, Kylie Madry, Sonali Paul Organizations: Monrovia NSU CHALLENGER, REUTERS, PANAMA CITY, Central, Reuters, Port, El Nino, Thomson Locations: Cocoli, Panama, Panama City, Central American, El

How India Profits From Its Neutrality in the Ukraine War The Gulf of Kutch in India is home to the world’s largest oil refinery. After Russia invaded Ukraine, tankers laden with Russian oil are an increasingly common sight along this inlet of northwestern India. China and India are buying so much Russian oil now that Moscow is selling more crude than it was before it invaded Ukraine. Russian crude shipments in the Gulf of Kutch this year Total barrels shipped between through May 2023. In December, S. Jaishankar, India’s foreign minister, was asked in Parliament about India’s decision to buy Russian crude.

Persons: Narendra Modi, Modi, Biden, Ukraine Price, —, Mukesh Ambani, India’s, Copernicus, ” Organizations: New York Times, Western, Ukraine, International Energy Agency, European Union, Argus Media, Jamnagar, Reliance Industries, Nayara Energy, Rosneft, Port, Southeast, Center, Research, Energy, Clean, United Arab Emirates, Modi government’s Locations: India, Ukraine, Kutch, Russia, SynMax, United States, Europe, Moscow, West, India China, China, Kpler, East, Jamnagar, Gujarat State, Russian, Gulf, Pipeline, Panipat, Mundra, Vadinar, Jamnagar Port Vadinar Refinery Jamnagar, Port, Nayara, Southeast Asia, Africa, Finland, Turkey, Singapore, Sikka, Asia Europe

Lockheed and Airbus will tout their LMXT tanker at the Paris Airshow this week, bringing U.S. reporters onboard the A330 Multi Role Tanker Transport on which the new plane is based. In 2011, Boeing won the first of a three-phase procurement to replace the Air Force's aging tanker fleet, securing a contract for 179 KC-46s. But Larry Gallogly, Lockheed’s director of LMXT business development, said Lockheed and Airbus "are most definitely still in this competition." Lockheed and Airbus sought a program of at least 120 aircraft, but “the business case can certainly close below that,” Gallogly said. Boeing Defense CEO Ted Colbert said the KC-46 "has proven to be highly capable" and is ready for the threats of the 2030s.

Persons: Lockheed Martin, Larry Gallogly, ” Gallogly, Ted Colbert, Jerry Carl, Carl, Valerie Insinna, Tim Hepher, Mark Potter Organizations: Pentagon, Aerospace titans Airbus, Boeing, Airbus, Lockheed, U.S, U.S . Air Force, Air, KC, Capitol, Air Force, General, Armed Services, Alabama Republican, Thomson Locations: WASHINGTON, PARIS, U.S, United States, Alabama, Georgia, American

☆ State of emergency around fuel tanker crash site in Russia's Irkutsk region - governor
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

June 13 (Reuters) - A state of emergency was introduced around the area where two fuel tankers collided on the Lena River in southeastern Russia's Irkutsk region, damaging a container and spilling gasoline into the water, the region's governor said early on Tuesday. The situation was complicated as other vessels were still traveling on the river, Kobzev said. He said that emergency services were working to prevent the diversion of water from the river. The Lena River, the world's 11th longest, originates near Lake Baikal in the Irkutsk region in southeastern Siberia and flows into the Arctic Ocean. Reporting by Lidia Kelly in Melbourne; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Igor Kobzev, Lena, Kobzev, Lidia Kelly, Sonali Paul Organizations: Thomson Locations: Russia's Irkutsk, Lake Baikal, Irkutsk, Siberia, Melbourne

☆ Ports in China's oil hub Shandong scrutinizing old tankers -sources
▼ + stars: | 2023-06-05 | by ( Muyu Xu | ) www.reuters.com time to read: +3 min

Qingdao and Lanshan are two of the top five biggest Chinese oil importing ports, according to data from Kpler. Shandong is home to numerous independent refineries known as teapots that account for up to one-fifth of China's processing capacity. Port authorities could detain ships for days to rectify any issues, prompting shippers to divert cargoes to other Chinese ports, the sources said. Almost all tankers hauling crude to Qingdao for independent refiners are more than 10 years old, said Vortexa analyst Emma Li. In April, tankers calling at Shandong ports experienced delays after customs authorities stepped up checks on diluted bitumen cargoes.

Persons: Seapalm, Emma Li, Eikon, Muyu Xu, Florence Tan Organizations: Kpler, Shandong Maritime Safety Administration, Reuters, Seapalm Shipping, Thomson Locations: SINGAPORE, China's Shandong, Qingdao, Rizhao, Lanshan, Shandong, Tokyo, Cameroon, Seychelles, Jiangsu, Hebei, Liaoning, Beijing

☆ Why Iran keeps seizing oil tankers in the Strait of Hormuz
▼ + stars: | 2023-06-01 | by ( Brad Howard | In | ) www.cnbc.com time to read: +1 min

Over the last decade, Iran has been causing more and more headaches for oil tanker operators in the Strait of Hormuz, a central artery of global trade. In the last two years alone, Iran has harassed, attacked or interfered with 15 internationally flagged merchant vessels. This critical waterway separates the Persian Gulf from the Arabian Sea, which makes it an important conduit for millions of barrels of oil that flow through the region. In response to Iranian ship seizures, the U.S. Navy's Fifth Fleet, which is responsible for security in the region, announced an increase in patrols. That included the guided-missile destroyer USS Paul Hamilton transiting the strait in late May.

Persons: Trump, Arona Baigal, Paul Hamilton, Victoria Coates Organizations: Middle East Security, Center, New, Navy's, Heritage Foundation, U.S Locations: Iran, Strait, Hormuz, New American, Iranian, U.S

☆ As Iran Seizes Tankers in Gulf, U.A.E. Pulls Back From U.S.-Led Maritime Force
▼ + stars: | 2023-05-31 | by ( Vivian Nereim | ) www.nytimes.com time to read: +1 min

The United Arab Emirates announced on Wednesday that it had stopped participating in a maritime security force led by the United States, the latest hint of tensions between Washington and key Persian Gulf allies who complain that America has not done enough to protect them from Iranian threats. The unusual public statement came after Iran seized two commercial tankers in waterways near the Emirates in quick succession over the past two months. Emirati and Saudi officials have repeatedly expressed frustration with U.S. policy toward Iran. “They were unhappy with the Americans, and when the U.A.E. is not happy, they are very decisive,” said Abdulkhaleq Abdulla, an Emirati political scientist.

Persons: ”, Abdulkhaleq Abdulla Organizations: United Arab Emirates, Emirates, Emirati Foreign Ministry, Combined Maritime Forces, Saudi Locations: United States, Washington, America, Iran, Persian

☆ UAE says withdrew from U.S.-led maritime coalition two months ago
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

DUBAI, May 31 (Reuters) - The United Arab Emirates withdrew from a U.S.-led Middle East maritime security coalition two months ago after evaluating its security relationships, the Gulf state said early on Wednesday. The Combined Maritime Forces is a 34-nation task force, headquartered at the U.S. naval base in Bahrain, working on security, counter-terrorism and counter-piracy in the Red Sea and Gulf areas. "As a result of our ongoing evaluation of effective security cooperation with all partners, two months ago, the UAE withdrew its participation in the Combined Maritime Forces," the Ministry of Foreign Affairs said in a statement carried by state news agency WAM. Five weeks ago, Iran seized two tankers within a week in Gulf waters near the Strait of Hormuz. The U.S. Navy and the UAE Ministry of Foreign Affairs did not immediately respond to requests for comment.

Persons: Lisa Barrington, Christopher Cushing Organizations: United Arab Emirates, Combined Maritime Forces, U.S, UAE, Ministry of Foreign Affairs, Wall, U.S . Navy, UAE Ministry of Foreign Affairs, Thomson Locations: DUBAI, U.S, East, Bahrain, United States, Iran, UAE, Hormuz, Dubai

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Persons: Dow Jones Locations: iran

The latest surge of dark fleet ships began after Russia invaded Ukraine and the West tried to limit Moscow’s oil revenue with sanctions. The ships most likely sell their Russian oil to China above a price limit set by the sanctions. “The price cap is achieving its dual goals: restricting Russia’s oil revenues while keeping Russian oil flowing, and markets stable and well-supplied,” a U.S. Treasury spokesperson told The Times. The spoofing tankers using American insurance show that the practice is not limited to Russian oil alone. The company, Gatik Ship Management, owns a fleet of 50 newly acquired tankers dedicated to the Russian oil trade, the report said.

Persons: ”, David Tannenbaum, it’s, Samir Madani, Daniel Tadros, Russia Lady Ella, Russia Snow, Price, Konstantin Zavrazhin, Tannenbaum, Mr, Tadros, what’s, Min Chao Choy Organizations: Cathay, Labs, Copernicus Sentinel, Maxar Technologies, The New York Times, The Times, U.S . Treasury, Times, American Club, Club’s, Alma, Cargo, Russia Cathay Phoenix, Hong, International Maritime Organization, American, ”, AIS, telltale, Treasury’s, Foreign, Control, Maritime, C4ADS, Gatik Ship Management Locations: Japan, Kozmino, China, U.S, Russia, Venezuela, Iran, Ukraine, ”, Hong Kong, Niigata, Russia Ginza, Varna, Bulgaria, Taman, Niigata Port, Siberia, Cathay Phoenix, O.F.A.C, South Korea, Washington, Ginza, Oman, India

☆ The West’s oil war against Russia is starting to lose momentum
▼ + stars: | 2023-05-24 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

"Russia's export revenue in April was down substantially year-on-year, mainly due to the impact of the EU import ban and lower oil prices. Russia's oil revenue recovery expected to continueAt the start of the year, data showed Russia's revenue from fossil fuel exports had collapsed in December. It appeared to underscore the effectiveness of policymakers targeting Russia's oil revenues and sparked calls for even tougher measures to help Kyiv prevail. CREA's latest findings, however, show that Russia's oil tax revenues rose 6% month on month in April due to the increase of export revenues in March. It means that after bottoming out at the start of 2023, Russia's oil tax revenues have since recovered due to increased sales.

Persons: Vladimir Putin's, Lauri Myllyvirta, CREA, Myllyvirta, Vladimir Putin, Vyacheslav Lebedev, Mikhail Klimentyev, Isaac Levi Organizations: Europa Press, Getty, Centre for Research, Energy, Clean, European Union, Seven, Clean Air Energy, Coalition, CNBC, Kremlin, Afp Locations: Ceuta, Spain, Russia, Ukraine, Finnish, Moscow, Hiroshima, Japan, U.S, EU

☆ Rare shipment of U.S. oil heads to South Africa for Glencore refinery
▼ + stars: | 2023-05-19 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

South Africa gets most of its oil from West and Central Africa as well as Saudi Arabia, according to Kpler data. The last shipment of U.S. oil went to South Africa in May 2021, U.S. customs data showed. Glencore's majority-owned Astron Energy restarted production at its 100,000 barrel per day Cape Town refinery nearly three years after a deadly explosion shuttered operations and killed two workers. Astron, which has the second-largest retail fuel network in southern Africa, receives its oil from tankers discharging in Saldanha Bay and transports the oil to the Cape Town refinery via pipeline, according to the refiner's website. Reporting by Arathy Somasekhar in Houston, additional reporting by Wendell Roelf in Cape Town; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.

☆ Women, children trek miles in summer heat to get water near Mumbai
▼ + stars: | 2023-05-18 | by ( Francis Mascarenhas | ) www.reuters.com time to read: +3 min

"All the water is sent to Mumbai, we are left with nothing," said Ashok Shinde, whose village is home to about 700 people rearing poultry and livestock. The Vaitarna dam, which supplies water to Mumbai, is just 50 km (31 miles) from Telamwadi, but is not linked to it. [1/5] Women walk back home balancing pots of water on their head as other women walk towards a well to fill their pots in Telamwadi, near Mumbai, India, May 17, 2023. "Until the permanent solution is in place, we are providing water tankers to ensure residents do not face issues," state water supply officials told Reuters. One of the women usually makes the precarious journey, relying on numerous cracks in the walls to provide support.

☆ Borrell urges EU to crack down on imports of Indian fuels made with Russian oil -FT
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

India has emerged in the past year as a top buyer of Russian oil following Moscow's invasion of Ukraine on Feb. 24, 2022. Russia's largest oil producer Rosneft (ROSN.MM) and top Indian refiner Indian Oil Corp (IOC.NS) have also signed a term deal to substantially increase and diversify oil grades delivered to India. According to ship-tracking data from Kpler, Reliance Industries (RELI.NS) and Nayara Energy were the key exporters of refined fuels and buyers of Russian oil. However, that has increased to 200,000 bpd after the EU banned Russian oil products imports from Feb. 5 this year, data from Kpler shows. Any mechanism to stem the flow of Russian oil would need to be implemented by the national authorities, Borrell told the FT, suggesting that the EU could target buyers of Indian refined fuels which it believes are derived from Russian crude.

☆ Rusty Old Oil Tankers Fetch Big Bucks Thanks to Russia
▼ + stars: | 2023-05-15 | by ( Megha Mandavia | ) www.wsj.com time to read: 1 min

The age of a vessel isn’t a factor in how well shipping companies are doing these days. Photo: ISAAC URRUTIA/REUTERS“Gone With the Wind” anti-hero Rhett Butler’s brutal take on war still resonates almost a century later. “There were two times for making big money, one in the upbuilding of a country and the other in its destruction. Slow money on the upbuilding, fast money in the crackup.”

☆ U.S. fighter jets intercept Russian planes near Alaska
▼ + stars: | 2023-05-14 | by ( ) www.reuters.com time to read: +1 min

May 14 (Reuters) - U.S. fighter jets intercepted six Russian aircraft operating in international airspace near Alaska, the North American Aerospace Defense Command (NORAD) said on Sunday. The Russian planes included TU-95 bombers, IL-78 tankers and SU-35 fighter jets, NORAD said in a written statement. NORAD described the interception as "routine" and said they happen roughly six or seven times per year in the so-called Alaska Air Defense Identification Zone. "This Russian activity in the North American ADIZ occurs regularly and is not seen as a threat," NORAD aid in the statement. The U.S. aircraft involved in the incident included F-16 and F-22 fighter jets, KC-135 stratotankers and E-3 AWACS, according to the statement.

☆ US military to bolster defensive posture in Gulf after Iran seizes tankers
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, May 12 (Reuters) - The U.S. military will work to bolster the defensive posture in the Gulf region following Iran's seizure and harassment of commercial shipping vessels in recent months, U.S. officials said on Friday. In the past two years, Iran has harassed, attacked or interfered with the navigational rights of 15 internationally flagged commercial vessels, officials said. "The Department of Defense will be making a series of moves to bolster our defensive posture in the Arabian Gulf," White House spokesperson John Kirby told a news briefing. The U.S. Navy said on May 3 the Panama-flagged oil tanker Niovi was seized by Iran's Islamic Revolutionary Guard Corps Navy while passing through the Strait of Hormuz. Days earlier, Iran had seized a Marshall Islands-flagged oil tanker in the Gulf of Oman.

☆ 5 ways Russia's been sidestepping Western sanctions and keeping its economy alive, from switching to the Chinese yuan and dabbling in ghost trades
▼ + stars: | 2023-05-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

A fleet of aging oil tankers that do not turn on their tracking signals is suspected of secretly transporting sanctioned Russian oil globally. Russia has also put together a "shadow fleet" of more than 100 oil tankers to skirt the sanctions, the FT reported in December. By August, such gray market sales reached nearly $6.5 billion, said Denis Manturov, the Russian trade and industry minister, according to an Interfax report. Russian oil is still getting into Western countries, thanks to intermediaries. Western nations that banned Russian oil have collectively imported nearly $46 billion worth of Russian oil products, according to a study by the Centre for Research on Energy and Clean Air, or CREA, published in April.

☆ No quick deal in sight as EU countries start talks on new Russia sanctions
▼ + stars: | 2023-05-10 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +3 min

Widely differing perspectives mean a quick deal is not expected, several diplomats said. She added the EU would stop transit via Russia of more of its exports, including advanced tech products and aircraft parts. Diplomatic sources familiar with the proposal - drafted by von der Leyen's Commission - said it also included blacklisting "tens" of new companies, including from China, Iran, Kazakhstan and Uzbekistan. NO SWIFT DEAL SEENAll 27 EU countries must agree for new sanctions to take effect in what would be the bloc's 11th round of such measures since Russia invaded Ukraine in February 2022. A diplomatic source from an EU country hawkish on Russia was frustrated the Commission's proposal did not include stopping Russian diamond imports or nuclear energy cooperation.

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