Sanctions on Russian oil not working – analysts

The restrictions were invented by bureaucrats who do not understand how oil markets work, industry experts tell CNBC Sanctions imposed by the West on Russian crude oil exports have so far “failed completely,” and new price caps could also prove ineffective, according to a CNBC report on Friday, citing analysts. The conclusions come as the … Продължение

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Türkiye and UAE told to cut trade ties with Russia – Bloomberg

A US Treasury official is said to have argued that cooperation is hampering attempts to damage the Russian economy US officials have warned Türkiye and the United Arab Emirates against maintaining economic and financial ties with Russia because trade is undermining sanctions, Bloomberg reported on Friday, citing people with knowledge of the matter.  The warnings … Продължение

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Russia ramps up global food exports

Supplies have exceeded 70 million tons in 2022, according to the agriculture ministry Russia’s food exports jumped by 12% in monetary terms last year to more than 70 million tons, despite difficulties caused by Western sanctions, the country’s Ministry of Agriculture reported on Thursday. The ministry highlighted that domestic agricultural products had been supplied to … Продължение

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EU sanctions on Russian oil may disrupt global supplies – analysts

The restrictions could force Moscow to cut crude production, according to experts cited by Reuters The EU ban on imports of Russian petroleum products could disrupt global trade flows after the measure enters force on February 5, Reuters reported on Thursday, citing analysts. The bloc’s sanctions targeting refined oil products, including diesel and jet fuel, … Продължение

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Türkiye to demand insurance for tankers carrying Russian diesel

Ankara already requires similar guarantees for vessels transferring crude from the sanctioned country Türkiye will require valid insurance documentation from tankers carrying oil products through its territorial waters from February 6, a day after an EU embargo on imports of processed petroleum products from Russia kicks in, the general directorate of maritime affairs announced on … Продължение

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Central bank gold buying soars to 55-year high

Overall demand in 2022 was the highest in over a decade, the World Gold Council has said Gold buying, which dipped during the Covid-19 pandemic, gained momentum in 2022, with demand soaring 18% against the previous year, the World Gold Council (WGC) said on Tuesday. According to the group, consumption last year hit 4,741 metric … Продължение

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China ramps up fuel oil imports blended from Russian crude – media

Sanctions against Russian petroleum products are pushing supplies away from Europe and towards Asia Chinese independent refineries are currently boosting purchases of discounted fuel oil blended from Russian barrels, Reuters reports on Friday, citing the latest data along with trade sources. Sanctions imposed by the EU and the Group of Seven on Russian crude, including … Продължение

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DJ TISSUE feat Voices of Tradition – Oi Devoiche

A Bulgarian song tops an international chart for dance, house and rock music. The club remix of the song ‘Oi Devoiche’, performed by the Bulgarian vocal group ‘Voices of Tradition’ and DJ TISHUE topped the January chart of the popular French platform Promo Club. (https://bit.ly/3WWljTF) .Tihomir Georgiev (DJ TISSUE) is an artist with a long career … Продължение

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Switzerland addresses potential energy shortfall

The government has ordered gas reserves to be set up for next winter Switzerland has extended a directive instructing its gas suppliers to prepare reserves for next winter, the government stated on Wednesday, citing possible shortages. The order mandates the storage of the equivalent of 15% of annual Swiss consumption in facilities in neighboring countries, … Продължение

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Serbia and Bulgaria launch construction of new gas pipeline

The interconnector is expected to help diversify supplies following a decrease in energy imports from Russia Construction works commenced on Wednesday on a 171 kilometer-long (106 miles) Bulgaria-Serbia natural gas interconnector pipeline, which is designed to diversify the two nations’ supplies. Serbian President Aleksandar Vucic and Bulgarian President Rumen Radev marked the official opening. The … Продължение

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“A little piece of Ukraine” in the capital city of Bulgaria

As Russia launched its invasion of Ukraine on 24 February last year, millions of Ukrainians sought refuge in different countries of the EU and around the world. A number of campaigns in their support were launched in this country, some still continue. One of the organizations which is very active in its efforts to help … Продължение

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British energy giant reports highest-ever profit

Soaring fuel prices bolstered Shell’s earnings to a record $40 billion last year UK-based oil and gas major Shell posted a record-breaking $39.9 billion annual profit in 2022, while British households and businesses struggled with skyrocketing energy bills.  The company stated on Thursday that the figure far exceeded the previous record of $28 billion in … Продължение

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India and Russia should build oil tankers – diplomat

Moscow and New Delhi “should think about the future” in the wake of Western sanctions, India’s ambassador suggests Moscow and New Delhi should consider jointly building oil-carrying ships and establishing energy insurance companies, India’s ambassador to Russia suggested on Thursday. Pawan Kapoor’s initiative follows the introduction of a price cap on Russian seaborne oil exports … Продължение

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MPs expect from the new cabinet fair elections, maintaining the foreign policy course and work for the people 

The parliamentary forces may not have high hopes for the new caretaker cabinet, which has only one change of minister, but they do have their expectations. President Radev appoints the new caretaker cabinetThe co-chair of We Continue the Change Kiril Petkov expects the government to organise fair elections, which he says is even more challenging with … Продължение

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EU country to export diesel made from Russian oil to Ukraine

Bulgaria enjoys an exemption from the EU embargo Bulgaria will supply refined oil products made from Russian crude to Ukraine, the Bulgarian government announced in a statement on Wednesday. The country received an exemption from the EU on imports of crude oil and petroleum products from Russia via maritime transport until the end of 2024. … Продължение

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EU struggles to agree price cap on Russian oil products

Poland and the Baltic states say the proposed level is too generous to Moscow EU nations will try to reach a consensus on Friday on the maximum price for Russian petroleum products under the new cap mechanism proposed by the European Commission (EC), Reuters reported on Wednesday, citing diplomats. EU leaders reportedly hope to come … Продължение

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Bulgarian Financier: Adoption of the Euro will Not Raise Prices

“Adopting the euro will not cost anyone anything. Price hikes are newspaper headlines. Switching from one currency system to another does not lead to an increase in prices…. Full Text: Site of OriginAuthor: Източник: Novinite.com Category: Economy Novinite ComNews in English by Sofia News Agency novinite.com

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Russian industrial production withstands sanctions

Last year’s output was similar to 2021, despite Western governments trying to crush the nation’s economy Russian industrial production held steady last year, nearly matching 2021 levels, official data shows, even as the US and its NATO allies imposed unprecedented economic sanctions over Moscow’s military operation in Ukraine. Output was down only 0.6% for the … Продължение

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What single Latin American currency could mean for the US dollar

The region is planning to launch a new settlement mechanism for non-dollar-denominated trade The two biggest South American economies, Brazil and Argentina, have recently unveiled plans to create a common currency, sparking speculation about a new global monetary union. RT looks at what the real plan is all about. What’s known about the potential Latin … Продължение

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