The sale of India’s Essar Oil worth $12.9 billion to a group led by Russia’s Rosneft (ROSN.MM) conforms with the United States’ sanctions imposed unto the Russian energy firm, Essar Group’s CEO confirmed on Sunday.
Tags: Russia
EU Military Spending Hits Record High of €240 Billion Following Russia's Invasion of Ukraine
Military spending within the European Union (EU) reached a historic high of €240 billion ($261.8 billion) in 2022, marking a 6% increase from the previous year.
Russia’s Agricultural Sector Shows Impressive Growth
President Vladimir Putin has expressed confidence that the growth in the country's agricultural sector will be no less than 4% by the end of the year.
$1B Investment Fund Approved By Russia And Japan
Russia and Japan agree to set up $1 billion investment fund. The countries of Japan and Russia will create a $1 billion fund to invest in joint energy and infrastructure projects over the next five years, the leaders of the two countries said in Tokyo Friday at the end of meetings that looked cozy but fell well short of Japanese expectations.
Glencore And Qatar Pays $11 Billion In Rosneft Privatization Deal
Glencore and Qatar takes $11 billion stake in state-run oil producer Rosneft. Russian President Vladimir Putin personally announced the deal which is expected to close mid-December.
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Russia's economy starts eventually to improve even if Russia's global political standing. In October, in its latest World Economic Outlook,nternational Monetary Fund predicted that Russia's economy could return to growth in 2017
Russia had to suspend its treaty and arrangement with US Weapons-Gade Plutonium Dea. This is due to some illegal breaches made by US, Russia claimed.
Upholding diplomacy, US starts peace talks with Russia over Syria Attacks. Now emphasizing diplomacy, the Obama administration has just withdrew its cooperation with Russia over Syria wars.
Despite territorial dispute, Philiipine Pres. Rudy Duterte announces posibble trade exchange with China and Russia.
Wall Street ended higher on Tuesday trading session as energy stocks rallied helped by increasing crude prices. The US crude prices reached its new height in 2016.
Russia produced 10.91 million barrels per day in March. This recorded as the highest in 30 years and raising the doubt on the production freeze.
The history’s biggest confidential documents leak revealed Russian elites, mostly Mr Putin’s inner circles, as clients of an offshore law firm in Panama. The offshore money trail connected to Mr Putin’s allies is worth $2 billion.
Surpassing Russia, the Kingdom of Saudi Arabia (KSA) has regained its lost status as top oil exporter to China in January 2016. However, China's oil imports eased during the month, while Russia suffered major drop in its exports. As a result, Saudi's market share rose to 15.9 percent highest since June 2015.
Saudi Arabia and Russia, the world's largest oil producers, have come to an agreement to reduce oil production into the January level. This is the first time for the two countries working together in efforts to fix the oil industry, which has been dropping for years.
