Russia’s energy revenues crash by 19% as war devours civilian budget
With gas exports to Europe halved and oil profits plunging, the Kremlin raids its welfare fund while fueling the front.
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energy sanctions
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US, Russia may prepare for show of force as Trump raises stakes with nuclear submarines
The stakes skyrocket as diplomacy falters.
Bloomberg: EU sanctions squeeze Rosneft’s Indian refiner — buyers now forced to pay in advance
Nayara Energy imposes financial demands on traders amid rising fears over deal enforcement.
London also slashes price cap on Russian oil to $47.60 per barrel after EU’s sanctions adoption
Western allies have escalated economic pressure on Russia by dropping the crude oil price cap.
Merz: EU to decide on new Russia sanctions package on 20 May after Putin excluded himself from talks
On the previous day, Merz also said Berlin and allies could move on frozen Russian funds if a lawful basis is confirmed.