4 h. ago Trump's turnaround on sanctions targets Russia's oil companies that fund the war in Ukraine

U.S. President Donald Trump has done a turnaround on sanctions against Russia, taking aim at Russia's two biggest oil companies and the billions of dollars they reap for Moscow's war against Ukraine

Events

4 h. ago Europe must go further and faster to break Russia’s war machine

Editorial: Donald Trump’s sanctions on Russian oil are a welcome shift from a changeable president – but Ukraine needs its European allies to do much more to hit Putin where it hurts

Events

5 h. ago Putin says he will never bow to US but concedes sanctions may cause ‘some losses’

China and India likely to scale back Russian oil imports as Trump tries to bring an end to war in UkraineVladimir Putin has said Russia will never bow to US pressure but conceded new sanctions could cause some economic pain, as China and India were reported to be scaling back Russian oil imports after Washington targeted Moscow’s two largest producers.The US on Wednesday imposed sanctions on Rosneft and Lukoil, as well as nearly three dozen of their subsidiaries, as the Trump administration increased pressure on the Kremlin to negotiate an end to its war against Ukraine. The EU separately discussed a loan for Ukraine secured on frozen Russian assets and agreed to a phased ban on the import of Russian liquefied natural gas. Continue reading...

Politics

5 h. ago Pump prices could rise after US, EU hit Russian oil companies with new sanctions and oil spikes

Oil prices spiked Thursday after the U.S. announced massive new sanctions on Russia’s oil industry in an attempt to get Russian President Vladimir Putin to the negotiating table and end Moscow’s brutal war on Ukraine

Events

6 h. ago Germany races to secure US sanctions exemption for Rosneft refineries

Berlin says Washington should not target subsidiaries of Russian oil company located in Germany

Politics

8 h. ago Which countries buy Russian oil – and what impact will sanctions have?

The Trump administration imposed sanctions after plans to hold a second summit on ending the war in Ukraine were abandoned

Politics

9 h. ago New sanctions and weapons will not stop Russia. It’s time for Ukraine’s allies to change their flawed strategy | Christopher S Chivvis

A negotiated settlement would be unfair and frustrating. But after nearly four years of fighting, it may be the best optionOn Wednesday, President Trump imposed substantial new sanctions on Russia’s giant oil and gas companies, and lifted restrictions on the use of certain long-range missiles by Ukraine, which will now be able to strike more freely into Russia itself. These moves come on the heels of Trump’s conversations last week with Vladimir Putin and Volodymyr Zelenskyy, after which the US president expressed his frustration at both side’s intransigence. Trump had hoped to end this war long ago. Will this be enough?When Russia launched its full-scale invasion of Ukraine in February 2022, the US and its allies chose a strategy that aimed to use Washington’s awesome political, economic and military power to impose such high costs on Russia that the Kremlin would sue for peace on Ukraine’s terms. This “cost-imposition” strategy makes sense in theory. The problem is that, in practi...

Events

9 h. ago US sanctions on Russian oil giants ‘really important new step’ – Healey

The Defence Secretary was speaking alongside his German counterpart Boris Pistorius at RAF Lossiemouth in northern Scotland.

Politics

10 h. ago UK manufacturers hit by largest drop in orders since 2020; FTSE 100 hits record high – business live

Shares in oil companies jump after US sanctions Russian energy firms, while manufacturers see weak prospects aheadYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, the MPC may want to see s...

Economics

10 h. ago Which countries buy Russian oil and what is the financial hit from sanctions?

The Trump administration imposed sanctions after talks at ending the war on Ukraine stalled

Economics

11 h. ago UK manufacturers hit by largest drop in orders since 2020; FTSE 100 hits fresh record high – business live

Shares in oil companies jump after US sanctions Russian energy firms, while manufacturers see weak prospects aheadYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, the MPC may want to see s...

Economics

11 h. ago EU joins US in heaping more sanctions on Russia to push Putin into Ukraine peace talks

The European Union has imposed more economic sanctions on Russia, adding to measures by U.S. President Donald Trump against the Russian oil industry

Politics

13 h. ago Will Trump’s new sanctions on Russian oil companies actually work to stop Putin?

The new sanctions were unveiled just a day after Trump said he would cancel a ‘wasted’ meeting with Putin in Budapest

Politics

15 h. ago India’s top refiner Reliance says it will ‘recalibrate’ Russian oil purchases

Washington has been putting pressure on New Delhi to stop importing crude from Moscow

Politics

16 h. ago Oil price jumps after US sanctions Russia’s Rosneft and Lukoil; White House considers software curbs on China – business live

Rolling coverage of the latest economic and financial newsThe oil price has jumped after the US has sanctioned Russia’s two largest oil companies to increase pressure on the Kremlin to negotiate an end to its war against Ukraine.The White House’s new measures against Rosneft and Lukoil are the US’s first sanctions against Russia since Trump’s return to office in January. All assets belonging to the two companies in the US have been frozen, and US companies and individuals will be barred from doing business with them. Continue reading...

Events

24 h. ago US imposes sanctions on Russian oil over Putin’s ‘refusal’ to end war in Ukraine

Trump administration hardens stance against the Kremlin day after cancelling a planned summit with Russian leaderThe US has sanctioned Rosneft and Lukoil, Russia’s two largest oil companies, as the Trump administration increased pressure on the Kremlin to negotiate an end to its war against Ukraine.The sanctions were the first against Russia since Donald Trump returned to the White House in January, and were targeted to cut key revenues from oil sales that finance the Russian war machine. Continue reading...

Politics

24 h. ago US sanctions major Russian oil companies and calls for Moscow to accept immediate Ukraine ceasefire – live

Trump says he canceled meeting with Putin because ‘we have good conversations but then they don’t go anywhere’US imposes sanctions on Russian oil over Putin’s ‘refusal’ to end war in UkraineMike Johnson said that he hasn’t spoken with the president about a New York Times report that he is seeking $230m from his own justice department in damages over past federal investigations.“I know that he believes he’s owed that reimbursement. What I heard yesterday was, if he receives it, he was going to consider giving it to charity,” he said. Continue reading...

Events

24 h. ago United States targets Russian oil giants over Vladimir Putin’s refusal to end 'senseless' war in Ukraine

Scott Bessent claimed the measures against Rosneft and Lukoil will ‘degrade’ the Kremlin’s military efforts

Events

25 h. ago Trump slaps Russia’s biggest oil companies with sanctions over Ukraine war: ‘Now is the time to stop the killing’

Treasury Secretary Scott Bessent announced the tough new measures against Moscow after White House scrapped plans for talks with Putin

Events

3 d. ago Ukraine war briefing: Energy war continues with strikes on Russian oil and gas plants

Russian attacks hit coal mine in Dnipropetrovsk region and Chernihiv power grid; Trump flips back to accommodating Putin. What we know on day 1,335 Continue reading...

Events