Vladimir Putin has said Russia will never bow to US pressure but conceded new sanctions could cause some economic pain, as China and India were reported to be scaling back Russian oil imports after Washington targeted Moscow’s two largest producers. The US on Wednesday imposed sanctions on Rosneft and Lukoil, as well as nearly three dozen of their subsidiaries, as the Trump administration increased pressure on the Kremlin to negotiate an end to its war against Ukraine. The EU separately discussed a loan for Ukraine secured on frozen Russian assets…
Tag: Oil and gas companies
Oil prices drop as aid arrives in Gaza; major Apple supplier faces China tax inquiry – business live
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British Gas is ready to bully beyond the grave | Brief letters
“It’s not who we are,” says British Gas in response to criticism of its bullying tactics (‘It’s not who we are,’ wails British Gas. Sorry but when you’re using bailiffs to install meters, that’s exactly who you are, 3 February). Oh, yes it is. This is a company with a “bereavement team” that is, in fact, a debt collection agency. Nothing could surprise me now about British Gas. Edith Nicoll Menstrie, Clackmannanshire In response to Janet Mansfield (Letters, 1 February), as a politics teacher at Loreto sixth-form college in Manchester,…
Oil prices hit lowest level since Ukraine invasion on China growth fears
Global oil prices have dropped amid concerns over weaker growth in the Chinese economy caused by repeated Covid lockdowns and a downturn in the property sector. A barrel of Brent crude fell by about 5% to below $94 (£78) on Monday, hitting the joint lowest levels since the Russian invasion of Ukraine as traders reacted to weaker figures from the world’s second-largest economy. China’s central bank unexpectedly cut interest rates on its key lending facilities for the second time this year after disappointing official growth figures. Factory output in the…