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☆ Satellite images show Russia is growing its Arctic military bases, including ones near Europe, report says
▼ + stars: | 2022-12-21 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Russia continues to boost its Arctic military presence, according to satellite photos obtained by CNN. NATO's chief said Friday there is now "a significant Russian military build-up in the high north." "The shortest way from Russia to North America is over the Arctic North Pole. So the strategic importance of these areas has not changed because of the war in Ukraine," he told CNN. As Insider's Christopher Woody previously reported, Russia has the world's longest Arctic coastline, and has spent years refurbishing military bases and deploying more troops in the region.

☆ Putin lands in Belarus for talks amid fears of new assault on Ukraine
▼ + stars: | 2022-12-19 | by ( Tom Balmforth | ) www.reuters.com time to read: +5 min

[1/3] Russian President Vladimir Putin walks after disembarking from a plane upon his arrival at the National Airport Minsk in Minsk, Belarus December 19, 2022. Russian forces used Belarus as a launch pad for their abortive attack on the Ukrainian capital Kyiv in February, and there has been Russian and Belarusian military activity there for months. Adding to the ominous mood music, Belarusian Foreign Minister Vladimir Makei, one of the few officials in Lukashenko's government with any rapport with the West, died suddenly last month. His successor, Sergei Aleinik, met Russian Foreign Minister Sergei Lavrov on Monday. The talks are seen by the Belarus opposition as a vehicle for a creeping Russian annexation.

Over recent years, NATO allies and Russia have scaled up military exercises in the region; Chinese and Russian warships conducted a joint exercise in the Bering Sea in September. Four Arctic experts say it would take the West at least 10 years to catch up with Russia's military in the region, if it chose to do so. "NATO is increasing its presence in the Arctic with more modern capabilities," NATO chief Jens Stoltenberg told Reuters. Now NATO and Arctic allies are changing their stance. Sweden and Finland have begun investing in surveillance and deterrence capabilities and military hardware including jets so their air forces can fight alongside Arctic NATO allies.

☆ A top oil analyst explains why oil is about to surge to $120 - and stay there for 2 years as Europe battles supply shocks
▼ + stars: | 2022-11-15 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Come December, oil prices in particular will come under pressure as the European Union imposes fresh sanctions on Russia. Oil prices are about to hit $120 a barrel, and they're likely going to stay high for two years. The Energy Aspects senior analyst said that Europe is facing troubling supply issues that are unlikely to go away anytime soon. "OPEC's been very protective of making sure there's a floor to prices," Gallarati said. What's something that you think could help ease oil prices heading into 2023?

☆ World faces most dangerous decade since WWII, Putin says as he blasts West for 'dirty' game
▼ + stars: | 2022-10-27 | by ( ) www.nbcnews.com time to read: +2 min

President Vladimir Putin said Thursday that the world faced the most dangerous decade since World War II as Western elites scrambled to prevent the inevitable crumbling of the global dominance of the United States and its allies. “The historical period of the West’s undivided dominance over world affairs is coming to an end,” Putin, Russia’s paramount leader, told the Valdai Discussion Club during a session entitled “A Post-Hegemonic World: Justice and Security for Everyone”. Russian President Vladimir Putin at the Valdai Discussion Club forum on Thursday. Tens of thousands of people have been killed in the war, while the West has imposed the most severe sanctions in history on Russia, one of the world’s biggest suppliers of natural resources. The Russian leader blamed the West for stoking recent nuclear tensions, citing remarks by former British Prime Minister Liz Truss about her readiness to use London’s nuclear deterrent if the circumstances demanded it.

☆ Exxon's Russian oil output collapsed after rejecting local tanker insurance - sources
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Sergei KarpukhinHOUSTON/NEW DELHI, Oct 17 (Reuters) - Oil output at the giant Exxon-led (XOM.N) Sakhalin-1 Russian Pacific project collapsed following the U.S. major's refusal to accept local insurance for tankers after Western insurers pulled out due to sanctions, several industry sources told Reuters. The developments have unfolded as the European Union is due to impose a ban on Russian oil tanker insurance and shows the major impact ship insurance and re-insurance guarantees can have on operations. Russia's state oil champion Rosneft (ROSN.MM), a partner in the Sakhalin-1 project, has blamed Exxon for falling output, saying that since mid-May the project produced hardly any oil. Russian newspaper Kommersant was first to report on Monday that production at Sakhalin-1 collapsed following Exxon's refusal to work with Sovcomflot. Oil output at the Sakhalin-1 project fell to just 10,000 barrels per day (bpd) earlier this year from 220,000 bpd before Russia invaded Ukraine on Feb. 24.

REUTERS/Sergei Karpukhin (RUSSIA)HOUSTON, Oct 10 (Reuters) - India maintains a "healthy dialogue" with Russia and will look at what is offered following an announced ownership revamp to the Sakhalin-1 oil and gas project, Petroleum Minister Hardeep Singh Puri told Reuters. "We’ll look at what is the state of play and what’s on offer," Petroleum Minister Hardeep Singh Puri told Reuters in an interview on Monday following meetings with U.S. oil executives in Houston. On the proposed European Union price cap on Russian oil purchases, he suggested it is not yet firm. "At no stage have we ever been told not to buy Russian oil," he said, referring to talks with officials on global energy supplies. India is interested in the U.S companies' technical expertise in offshore production, ethanol and sulfur recovery in oil refineries, Puri added.

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