Imports of Russian crude oil to China reached a record high in 2024, rising by 1% compared to 2023, Reuters reported on Jan. 20. The Russian fossil fuel industry is the primary economic driver of Moscow's full-scale war against Ukraine. Despite sanctions and Ukrainian strikes on Russian oil production, China, the world's largest crude oil […]
Russia's seaborne exports of petroleum products declined by 9.1% to 113.7 million metric tons in 2024, reflecting mounting challenges to its fossil fuel industry, Reuters reported on Jan. 17. Ukraine has targeted Russia's fossil fuel infrastructure as part of its strategy to undermine a key funding source for Russia's war effort. Drone strikes on refineries […]
Several advisors to U.S. President-elect Donald Trump have accepted a timeline of at least several months to strike a deal to settle the Russia-Ukraine war, Reuters reported on Jan. 15, citing two Trump associates who directly spoke to the president-elect about the war. Trump has previously promised to end Russia's war against Ukraine in 24 […]
Sixty-five oil tankers paused operations in various places around the world following the recent U.S.-U.K. sanctions against Russia’s oil industry and shadow fleet, Reuters reported on Jan. 13, citing maritime tracking data. According to the news agency, five of those tankers were anchoring off China and Singapore, while others were idling in the Baltic Sea […]
As Russian troops continue approaching the city of Pokrovsk, Ukraine halts the extraction of coking coal near the city, Reuters reported on Jan. 13, citing unnamed sources. "They have all stopped working now," one Reuters source said. "There's no production there, they're only working on the surface," another Reuters source added. The Pokrovsk coal mine, […]
NATO allies are unlikely to meet U.S. President-elect Donald Trump's proposed spending target of 5% of GDP but are open to an increase from the current 2%, Reuters reported on Jan. 10, citing comments from officials and analysts from various NATO countries. On Jan. 7, Trump called for an increase to the NATO spending target […]
NATO membership is the only credible long-term guarantee Ukraine can secure to defend against future Russian aggression, Finland's Foreign Minister Elina Valtonen told Reuters on Jan. 8. While Donald Trump's upcoming return to the White House on January 20 has sparked hope for a diplomatic resolution to Moscow's invasion, it has also raised concerns in […]
Shandong Port Group has prohibited U.S.-sanctioned tankers from accessing its ports in the eastern Chinese province, three traders familiar with the issue told Reuters. This region, home to many independent refiners, is a significant importer of oil from countries under U.S. embargoes. Last year, Shandong imported approximately 1.74 million barrels per day (bpd) of oil […]
The Trump administration's Ukraine peace envoy, Keith Kellogg, has postponed a visit to Kyiv until after U.S. President-elect Donald Trump is inaugurated on Jan. 20, Reuters reported on Jan. 6, citing four sources with knowledge of the trip. According to the sources who spoke to Reuters, the new date has not yet been set, and […]
Two passengers who survived the crash of an Azerbaijan Airlines plane in Kazakhstan heard a loud bang as it approached its original destination of Grozny, Reuters reported on Dec. 27. The plane, en route from Baku on Dec. 25, carried 67 passengers, including 42 Azerbaijani citizens, 16 Russians, six Kazakhs, and three Kyrgyz citizens. Thirty-eight […]
Russian companies are increasingly using bitcoin and other digital currencies for international payments in response to Western sanctions, Reuters reported on Dec. 25. Once key facilitators of Russia’s trade, Chinese banks have significantly curtailed transactions over fears of losing access to U.S. financial markets. By mid-2024, roughly 80% of Russian payments in Chinese yuan were […]