Sanctions News

 

Brent Crude Soars to $139 a Barrel as U.S., Europe Mull Russian Oil Import Ban

Mar 07, 2022

Oil prices spiked to their highest levels since 2008 on Monday as the United States and European allies weighed a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled supply fears.In the first few minutes of trade Brent crude reached $139.13 and U.S. West Texas Intermediate (WTI) hit $130.50, both benchmarks striking their highest levels since July 2008…

Ban on Russian Commodity Exports to Accelerate LNG Growth, Energy Transition - Wood Mackenzie report

Jun 16, 2022

War in Ukraine is transforming the outlook for the supply, demand and price of hydrocarbons and the pace and cost of the energy transition. While the precise timing and implementation of future bans on Russian commodity imports are difficult to predict…

EU Agrees Gradual Russian Oil Embargo, Gives Hungary Exemptions

May 31, 2022

European Union leaders have agreed an embargo on Russian oil imports that will start kicking in towards the end of the year and which exempts, for now, pipeline imports that Hungary and two other landlocked Central European states rely on.The…

UK Sanctions Gazprombank, Alfa Bank and Sovcomflot

Mar 24, 2022

Britain froze the assets of Russia's Gazprombank and Alfa Bank, and the state-run shipping firm Sovcomflot FLOT.MM, in its latest round of sanctions announced on Thursday.They were among 59 individuals and entities added to the sanctions list…

International Marine Contractors Association Suspends Russian Members

Mar 11, 2022

The International Marine Contractors Association has suspended its Russian members from the association over Russia's invasion of Ukraine.IMCA CEO Allen Leatt said: 'We are all deeply saddened at IMCA by the events unfolding in Ukraine and the…

Merkel Ally Calls for Moratorium on Nord Stream 2 Construction

Apr 01, 2021

Germany's coordinator for transatlantic relations called on Wednesday for a moratorium on the construction of the Nord Stream 2 natural gas pipeline from Russia to Europe, breaking ranks with many in Chancellor Angela Merkel's government.The United States is opposed to the project…

U.S. State Secretary: Completing Nord Stream 2 Pipeline Ultimately up to Builders

Mar 29, 2021

U.S. Secretary of State Antony Blinken said in an interview broadcast on Sunday that it was ultimately up to those building the Nord Stream 2 natural gas pipeline whether to complete it despite opposition from Washington.On Wednesday, Blinken said he had told his German counterpart that U…

Reuters: Germany Bets U.S. Will Make the Best of 'Bad deal' Nord Stream Pipeline

Mar 16, 2021

Germany is betting the U.S. administration will take a pragmatic approach to the Nord Stream 2 project to ship Russian gas to Europe and is pushing for the pipeline’s completion in defiance of U.S. opposition, officials and diplomats said.To try to block the $11 billion project…

USA: Senator Cruz Puts Hold On Biden's CIA Pick over Nord Stream 2 Pipeline

Mar 08, 2021

Republican Senator Ted Cruz put a hold late on Friday on President Joe Biden's pick to lead the Central Intelligence Agency to pressure the administration to put tough sanctions on Russia's Nord Stream 2 natural gas pipeline project.The Senate Intelligence Committee last week backed William Burns…

U.S. Designates Already Sanctioned Russian Ship as Helping to Build Nord Stream 2 Pipeline

Feb 22, 2021

The Biden administration on Friday identified a Russian ship and a company it believes are helping to build the Nord Stream 2 pipeline, but the entities had already been sanctioned by the Trump administration and the project's opponents in Congress said the move would do little to halt work on it…

U.S. to Unveil Nord Stream 2 Report. Sanctions May Take Time

Feb 19, 2021

The Biden administration is expected to name as early as Friday the companies it believes are helping build Russia's Nord Stream 2 pipeline, five sources said, a move that could eventually prompt sanctions on the nearly-completed project.The State Department report to Congress…

U.S. Lawmakers ask Blinken for Briefing on Nord Stream 2 Pipeline

Feb 18, 2021

Several U.S. Representatives on Wednesday raised pressure on the State Department to share plans on potential sanctions on the Nord Stream 2 natural gas pipeline Russia is racing to finish to take fuel to Europe.'If completed, Nord Stream 2…

Report: Nord Stream 2 Set to Resume Pipelaying Works in Danish Waters

Jan 14, 2021

The Russia-led Nord Stream 2 consortium said on Thursday that work to lay its subsea gas pipeline to Germany would resume in Danish waters on Jan. 15, the TASS news agency reported, despite pressure from the United States for construction to stop…

U.S. Blacklists China's CNOOC over South China Sea Actions

Jan 14, 2021

The Trump administration added China’s CNOOC to a U.S. economic blacklist on Thursday, accusing the oil giant of helping Beijing intimidate neighbors in the South China Sea and ratcheting up tension days before U.S. President-elect Joe Biden takes office…

Report: EU to Toughen Sanctions on Turkish Offshore Drilling in Contested Waters

Dec 09, 2020

The European Union will impose sanctions on more Turkish individuals and companies responsible for drilling in contested waters in the Mediterranean, according to a draft statement prepared for EU leaders to agree at a summit on Thursday.If agreed…

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