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Russian State TV Says Putin-Trump “Bromance Is over” After Sanctions
Sanctions on Rosneft and Lukoil, responsible for over 5% of global oil output, aim to cut Russian war funding and caused a 5% rise in oil prices, officials said.
- On Thursday US President Donald Trump sanctioned Rosneft and Lukoil in a dramatic U-turn that pushed global oil prices up 5 per cent.
- After saying last week he'd soon meet Vladimir Putin in Budapest, Donald Trump reversed course, shelving the planned summit on Wednesday and dropping ceasefire demands after his August meeting in Alaska.
- Refiners in India are set to sharply cut seaborne Russian crude imports, while Chinese state oil majors suspended Russian oil purchases in the short term, Reuters sources said.
- The sanctions are aimed at cutting revenue that helps finance Russia's war, Ukrainian President Volodymyr Zelensky hailed them as very important and Moscow warned of a painful response if assets were seized.
- The European Union adopted a new sanctions package banning Russian LNG imports on Thursday, while leaders discussed using frozen Russian assets to provide a 140 billion euro loan to Kyiv as Russia's oil and gas revenue falls 21% year-on-year.
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US President Donald Trump's surprise decision to impose sanctions on Russia's largest oil companies will not stop Russian President Vladimir Putin's war machine, but it will help the European Union wean itself off Russian oil, Politico reports.
·Vilnius, Lithuania
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The Russian Energy Strategy puts the country’s oil reserves at 33.3 billion tons, an amount that makes it the second country in the world after the United States and the producer of 10% of the world’s crude oil. In its core it has 15% of the global reserves. According to this official document, the supply could be maintained for at least the next 65 years. However, the sanctions of Western countries may undermine Russia’s ability to export oil a…
·Spain
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Coverage Details
Total News Sources24
Leaning Left6Leaning Right2Center3Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 27%
R 18%
Factuality
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