City Novorossiysk Financial News

VVER-1000 reactor vessel for the sixth power unit of the Kudankulam NPP, which is being built in India according to a Russian design, is being transported to the construction site. The equipment weighing 320 tons was manufactured at the Atommash plant (Rosatom's Machine-Building Division) and shipped to the customer on the eve of 2025.

Air transport is the only one direct option, but is useful only for expensive or perishable goods. The bulk of goods are delivered via Suez and Black Sea ports (Novorossiysk or others). As a result, the cargo travels triple the distance and several overloads along the route. High transport and logistics costs hinder the competitiveness of goods and the volume of mutual trade. Until now, the volume of mutual trade between India, Russia and Central Asia has been not so large (for example, $3.2 billion between India and five Central Asian countries in 2022). The obstacle is over huge delivery distances through the ports of the Black Sea or the Far East (7-10 thousand km).

Officials say a passenger train derailment in northern Russia has killed three people and injured dozens

DUBAI (Reuters) -Yemen's Iran-aligned Houthis claimed responsibility on Saturday for an attack on the oil tanker M/T Pollux, which U.S. officials said the previous day had been hit by a missile.

The US State Department announced on Friday that a Panamanian-flagged tanker transporting crude oil destined for India, was targeted by a missile in the Red Sea. According to the State Department, the missile, originating from Yemen, struck the M/T Pollux on its port side. Prior to this, both the United Kingdom Maritime Trade Operations (UKMTO) agency and the British maritime security firm Ambrey had reported that a Panama-flagged tanker was allegedly hit approximately 72 nautical miles (133 km) northwest of Yemen’s port of Mokha.

Russia's fuel export ban counteracted fears that slowing economies and high interest rates could crimp demand. Brent futures were up 78 cents, or 0.84%, at $94.08 a barrel by 1443 GMT, while U.S. West Texas Intermediate crude (WTI) futures rose by $1.02, or 1.14%, to $90.65 a barrel. For the week, both benchmarks were relatively flat, after rising more than 10% in the previous three weeks on concerns about tight global supply. Russia's Transneft suspended deliveries of diesel to the key Baltic and Black Sea terminals of Primorsk and Novorossiysk on Friday, state media agency Tass said. Russia temporarily banned exports of gasoline and diesel to all countries outside a circle of four ex-Soviet states with immediate effect to stabilise the domestic fuel market, the government said on Thursday, without a specified end date. The ban will «bring new uncertainty into an already tight global refined product supply picture and the prospect that the impacted countries will be seeking to bid up cargoes from alternative suppliers,» RBC said in a note. Russian wholesale gasoline prices were down nearly 10% and diesel down 7.5% on Friday on the St.

Sarbananda Sonowal is representing India at the Eastern Economic Forum which is being held at the Russian port city of Vladivostok aiming to push Eastern Maritime Corridor between the two countries. The Shipping Minister will also be speaking at the session on Eastern Maritime Corridor, while also meeting senior ministers of Russian Federation on possibilities to further strengthen the bilateral relation between the two countries, including exploring possibilities of the Northern Sea Route and establishing a Trans Shipment Hub in the Bay of Bengal. The Corridor is aimed at reducing cargo transit times between our nations. The journey from Indian ports to the Russian Far East takes just 24 days, compared to 30 days through the port of Novorossiysk.

Urals oil loaded from the state's ports in August, despite a record rise in prices for the grade, traders, LSEG data and Reuters calculations showed.Indian refineries said in August that the Urals discount to the dated Brent benchmark crude had narrowed too much, making them cut purchases of the grade in September. Discounts for Urals oil loading in August narrowed to $5 per barrel and below on a DES (delivered ex ship) basis in Indian ports — a record low since a European Union embargo on Russia's oil. Along with the EU embargo, the G7, the European Union and Australia imposed a $60 per barrel price cap last December on sea-borne exports of Russian crude in retaliation for Russia's war on Ukraine, which Moscow calls a special military operation. The increase in prices for the Russian grade was due to Russia's pledge to cut oil exports in August by 500,000 barrels per day (bpd) in cooperation with OPEC+ to balance oil markets.

Oil prices extended gains on Monday to touch their highest levels since mid-April after top producers Saudi Arabia and Russia pledged to keep supplies down for another month to tighten global markets further and support prices. Brent crude futures rose 25 cents, or 0.3%, to $86.49 a barrel by 0023 GMT, while U.S. West Texas Intermediate crude was at $83.05 a barrel, up 23 cents, or 0.3%.

Russian oil tanker early Saturday off the eastern coast of occupied Crimea, Russian officials and a Ukrainian official said, the second strike on a Russian ship at sea in two days. That attack coincided with a new directive from Ukraine's maritime authority, dated Friday, warning that six Russian Black Sea ports and the approaches to them would be considered «war risk» areas until further notice.

By Olena Harmash

ISTANBUL—Ukrainian sea drones attacked an oil tanker sanctioned by the U.S. for working for the Russian military, potentially bringing the war into a new phase that threatens Russia’s vital shipping lanes in the Black Sea.

The attack on Novorossiysk is the first time a commercial Russian port has been targeted in the 18-month war. The city is a major port on the Black Sea and hosts a naval base, shipbuilding yards and an oil terminal. It is a key port for Russian exports.