G7 Price Cap

Additional Sanctions Imposed By the EU on Russia

The EU adopted an eighth package of sanctions on 6 October 2022 in response to Russia’s continued military aggression against Ukraine, reads a Gard release.

A number of Regulations and Decisions were published  but of particular significance for Clubs and their Members is Council Regulation (EU) 2022/1904 which further amends Council Regulation 2014/833.

As well as imposing an asset freeze on a number of new individuals and entities, the Regulation contains the following provisions of particular...

https://mfame.guru/additional-sanctions-imposed-by-the-eu-on-russia/

Global Refiners To Eventually Adjust To Russian Crude Trade Complications

  • Refiners remain confused, seek more clarity on G7 price cap
  • BPCL expects Russian, Indian, Chinese insurance services to emerge
  • Europe takes more US crude at the expense of Asian buyers

Asian and European refiners remain confused about how G7’s plan to impose a price cap on seaborne Russian oil cargoes would function, but the oil companies would eventually find ways to have Russian crude supplies continue to flow in the market and manage alternative options to fill any gaps, reports Platts.

Refin...

https://mfame.guru/global-refiners-to-eventually-adjust-to-russian-crude-trade-complications/