In a significant diplomatic and economic shift, the Trump administration has agreed to slash tariffs on Indian goods after securing a commitment from New Delhi to phase out purchases of Russian crude oil.
German federal prosecutors have arrested five individuals accused of orchestrating a vast procurement network that allegedly funneled millions of euros worth of goods to Russian defense companies, in direct violation of EU sanctions imposed following the invasion of Ukraine.
A dual shift in U.S. sanctions and Venezuelan oil law is unlocking the country's vast reserves for American companies, marking a potential turning point after decades of nationalization and economic isolation.
The Trump administration has issued a broad license allowing U.S. entities to engage in key oil activities in Venezuela, a major sanctions relief step aimed at jumpstarting the nation's crippled energy industry under its new U.S.-backed leadership.
Following months of escalating tariffs, the U.S. and India have reached a tentative trade agreement. The deal, announced by former President Trump, reportedly includes a commitment from New Delhi to shift its oil imports away from Russia.
Venezuelan oil exports jumped to nearly 800,000 barrels per day in January, rebounding from a low of 498,000 bpd in December, following a U.S. policy shift that allowed key traders to resume shipments, according to tanker tracking data.
In a landmark agreement announced by former President Trump and Prime Minister Modi, the U.S. will slash tariffs on Indian goods, while New Delhi commits to halt Russian oil imports and significantly increase purchases of American energy and goods.
A Russian cargo ship captain has been found guilty of gross negligence manslaughter after his vessel collided with an anchored oil tanker in the North Sea, resulting in a fiery blaze and the death of a Filipino crew member whose body was never recovered.
Hyundai Motor has allowed its option to repurchase its former St. Petersburg factory to lapse, marking a decisive step back from the Russian market it once dominated, as the ongoing conflict and sanctions reshape the automotive landscape.
U.S. oil giants ExxonMobil and Chevron hinted at a potential future role in Venezuela's energy revival during earnings calls, emphasizing the need for legal stability and clearer political outcomes before any major commitments. While sanctions ease and new legislation emerges, the path to significant investment remains long and fraught with uncertainty.
In a landmark move, Venezuela's parliament has passed reforms to its hydrocarbons law, easing state control and aiming to lure back foreign capital to its struggling oil industry, coinciding with a partial easing of U.S. sanctions.
A U.S.-sanctioned Russian cargo aircraft, linked to prior military support in Venezuela, landed at a Cuban military airfield. The arrival coincides with a declared U.S. national emergency over Cuba and fuels concerns over Moscow's strategic activities in America's backyard.
Crude oil benchmarks plunged over 7%, with Brent near $66 and WTI around $62, as President Trump's comments eased fears of a U.S.-Iran conflict and a sell-off in metals markets spilled over. Analysts suggest the drop reflects a rapid unwinding of risk premiums rather than a fundamental change in supply dynamics.
Crude oil futures surrendered early gains to close lower Friday, as de-escalating rhetoric from Washington over Iran and a stronger dollar offset ongoing geopolitical tensions and supply constraints.
Crude oil and gasoline prices advanced on Friday, supported by persistent geopolitical risks in the Middle East and ongoing supply constraints, though gains were tempered by a stronger dollar and diplomatic signals.
U.S. stocks advanced cautiously Monday as investors braced for a wave of corporate earnings reports, while crude oil prices tumbled sharply. The focus remains on key tech results and evolving geopolitical developments affecting global trade and energy markets.
Russia's premier cryptocurrency miner, BitRiver, faces insolvency proceedings as its CEO is placed under house arrest, marking a dramatic fall for a firm already crippled by international sanctions and mounting legal disputes.
Igor Runets, founder and CEO of Russia's largest Bitcoin mining operator BitRiver, has been detained and placed under house arrest on charges of large-scale tax evasion. The case unfolds against a backdrop of Western sanctions and operational challenges for the once-dominant firm.
Mexico faces a delicate balancing act as U.S. tariff threats targeting nations supplying oil to Cuba pressure a key trading partner to choose between economic interests and regional solidarity.
The Trump administration has escalated pressure on Cuba by declaring a national emergency and threatening punitive tariffs on countries supplying it with oil, while simultaneously finalizing a reciprocal trade agreement with Guatemala aimed at bolstering Western Hemisphere supply chains.
