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Economy
Andrey Kortunov:
Is Global Icebreaker Race Imminent?
Today, the Arctic region houses less than 1.3% of Russia’s population, but it accounts for some 12–15% of the national GDP and for 25% of all the exports. One fifth of all Russia’s oil and four fifth of natural gas are extracted here. The Arctic continental shelf, which remains not fully explored, contains even more hydrocarbons—at least 85 tln cubic meters of natural gas and 17.3 bln tons of oil. With many old easily accessible ...
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Ivan Timofeev:
US Congress and Sanctions Against Russia
Subsequently, the sanctions continued to increase. In 2017, President Donald Trump signed Executive Order 13808, which imposed restrictions on the primary market debt of the Venezuelan state oil company PdVSA, as well as on
the debt obligations of the Venezuelan government
. Executive Order18827 (2018) defined bans on the use of
digital currencies nominated by the Venezuelan governmen
t. Executive Order 13835 (2018) expanded
sanctions ...
The West believes the decision to cut oil production undermines the Western economies, thus denying OPEC+ nations the right to pursue their own economic interests
On April 3, 2023, OPEC
published
a press release saying that a number of countries, both members of this cartel and those participating ...
The experience of US law enforcement practice shows that there will be violations of the sanctions regime, and US regulators have developed mechanisms for detecting them
The introduction of a price threshold for Russian oil has been discussed for several months. The idea was announced back in early September in a statement by the finance ministers of the G7 countries. Its essence was to prohibit the transportation of Russian oil and oil products by sea in the event that ...
In fact, the sellers’ market is being changed into the buyers’ market by artificial political methods rather than for economic reasons
G7 countries are working hard to coordinate a sanctions regime to cap prices on Russian oil and oil products. The United States is already drafting a mechanism for applying these sanctions, which its allies and partners will use as a guideline. The new sanctions in the form of legal arrangements are expected to be formalised very soon. How ...
... conditions, Kazakhstan’s main interest is to maintain and diversify exports to an extent possible, as well as to secure sustained imports of food and key consumer goods.
Let’s take a closer look at Kazakhstan’s exports. Minerals, primarily crude oil, form the basis of exports. According to the Ministry of Energy of Kazakhstan, oil exports from the Republic in 2021 amounted to 67.6 million tons. Almost 80% of Kazakhstan’s oil is exported through the Caspian Pipeline Consortium (CPC). The consortium ...
... from problems in the economic situation deteriorating over growing prices on imported primary energy resources as well as from the uncertainty concerning long-term deliveries of said resources from Russia in the longer run. In June, imports of Russian oil dropped to zero, prompting several companies to sign additional agreements with suppliers from the Persian Gulf. Consequently, Japan’s dependency on oil imports from the region has increased to over 90%, which essentially nixed many years of diversification ...
Working Paper No. 63
Working Paper No. 63
Cooperation in the energy sector is one of the most important facets of Russian foreign policy. Interaction in this area helps to develop mutually beneficial trade relations and ensure the energy security of Russia and its partners. Energy cooperation between Russia and Turkey has been comprehensive and strategic in recent years. This working paper contains an analysis of the current state and prospects of this cooperation. It examines in detail the role...
... extended the period of a
sanctions waiver
for Iraq — most recently in September — due to Baghdad's dependence on Iran’s gas and electricity. Iraq’s need to comply with the OPEC+ quotas has a negative impact on the situation, since with the cut of oil production in Iraq the volume of associated gas production also decreased. And this, in turn, again increases dependence on the gas imported from Iran.
Ruslan Mamedov:
Russia Doubles Down on Iraq Despite COVID-19
If Baghdad loses the possibility to ...
... plot a course for bilateral relations, though the process is being complicated by Iraq’s precarious political situation and the global coronavirus crisis
Russia’s key business interests in Iraq lie in the energy sector and hinge on the global oil and gas market, and Russian oil giants are continuing to operate on the ground despite the novel coronavirus and volatile international oil prices.
Russian Ambassador to Iraq Maksim Maksimov said in a recent interview with the Interfax news agency,...
