Russia Financial News

Hamas militants launched an attack in southern Israel, killing and abducting scores of its citizens. It has since then escalated into a full-fledged war in Gaza. Israel said it would continue the offensive until all hostages are released and Hamas is destroyed.

Chinese leader Xi Jinping has told visiting Dutch Prime Minister Mark Rutte that attempts to restrict China’s access to technology will not stop the country’s advance

Richard Serra, known for his massive yet minimalist steel sculptures, died Tuesday at age 85, US media reported. His strikingly large pieces are installed all over the world, from Paris museums to the Qatari desert, and have sometimes sparked controversy over their imposing nature. Serra died of pneumonia Tuesday at his home on Long Island, New York, his lawyer John Silberman told The New York Times.

Oil prices were broadly level on Wednesday, after official numbers were released for U.S. crude stockpile and signs the OPEC+ producer group is unlikely to change its output policy at a technical meeting next week Brent crude futures for May were down 23 cents, or 0.3%, to $86.02 a barrel by 1447 GMT while the more actively traded June contract was down 21 cents, or 0.3%, at $85.42. The May contract expires on Thursday.

There were no aides and no note-takers in the Oval Office—just President Biden and his German guest. Chancellor Olaf Scholz came on such short notice that the only plane he could book, a small Airbus 321, had to refuel in Iceland. Russia’s war in Ukraine and the fighting in Gaza dominated the 90-minute meeting.

Russian ministries could be prepared to “legalize” industrial crypto mining in the country. But one key department could yet throw a spanner in the works.

Oil prices fell for a second day on Wednesday after a report that crude stockpiles in the U.S., the world's biggest oil user, surged and on signs major producers are unlikely to change their output policy at a technical meeting next week. Brent crude futures for May dropped 69 cents, or 0.8%, to $85.56 a barrel at 0150 GMT. The May contract is set to to expire on Thursday and the more actively traded June contract declined 60 cents, or 0.7%, at $85.03.

The U.S. has slapped Russia with more sanctions – this time targeting a number of crypto-related entities and individuals due to potential evasions aimed at funding the Putin-led country’s invasion of Ukraine – according to a Monday press release from the Office of Foreign Asset Control (OFAC).

Indian lenders and Russia's Gazprombank have held exploratory talks over setting up correspondent banking services to facilitate cross-border payments and support international trade, according to a senior bank executive.Gazprombank representatives met some Indian bankers last month to discuss the proposal, the executive told ET. Correspondent banking involves contractual relationships between banks to provide reciprocal payment services. The establishment of such a facility with Indian lenders would help traders skirt some of the payment-related problems that have arisen after the US and its allies imposed sanctions on Russia for its invasion of Ukraine. «These are early-stage discussions, and both countries are looking at exploring measures to further strengthen banking ties,» the executive said.

₹6,811 per barrel on the multi commodity exchange (MCX). Brent rose 1.5 per cent on Monday and WTI gained 1.6 per cent after Russia ordered companies to cut output in the second quarter to meet a nine million barrels per day target to comply with the supply cut decisions taken by the Organisation of Petroleum Exporting Countries (OPEC). -Russia, among the top three global oil producers and one of the largest exporters of oil products, is also contending with a series of recent attacks on its oil refineries by Ukraine and has mounted its own attacks on Ukrainian energy infrastructure.

Also Read: Oil market oversupplied with record-high US output, Brent seen at $87-$92 for 2024: ShareKhan's Mohammed Imran Tighter Markets: Physical markets tightened following a seasonal pattern in February. However, the more significant driver for the uptick in prices was the decision by the Organisation of Petroleum Exporting Countries and its allies (OPEC+) to extend production cuts from March 2024 to June 2024.

Ukraine has sunk or disabled a third of all Russian warships in the Black Sea in just over two years of war, the navy spokesman said Tuesday, a heavy blow to Moscow's military capability. Ukraine's Navy spokesman Dmytro Pletenchuk told The Associated Press that the latest strike on Saturday night hit the Russian amphibious landing ship Kostiantyn Olshansky that was resting in dock in Sevastopol in Russia-occupied Crimea. The ship was part of the Ukrainian navy before Russia captured it while annexing the Black Sea peninsula in 2014. Pletenchuk has previously announced that two other landing ships of the same type, Azov and Yamal, also were damaged in Saturday's strike along with the Ivan Khurs intelligence ship.

The U.S. is imposing sanctions on a collection of mostly Russian fintech firms and people accused of enabling sanctions evasion

Japan’s Cabinet OK’d a plan to sell future next-generation fighter jets to other countries on Tuesday, its latest step away from the pacifist principles the country adopted at the end of World War II

The United States and Cyprus say they’re formalizing their collaboration in fighting money laundering, sanctions evasion and other financial crimes

China says it has filed a complaint at the World Trade Organization over U.S. subsidies for electric vehicles

According to the US Treasury Department, the fintechs, along with two individuals, have "either helped build or operate blockchain-based services or enabled virtual currency payments in the Russian financial sector, thus enabling potential sanctions evasion".

SEOUL/BEIJING (Reuters) — Chinese state-owned planemaker COMAC's first wide-body jet is in its «detailed design stage», an executive said on Tuesday, following a report from the jet's fuselage manufacturer aiming to deliver the first fuselage section by September 2027.

The US Treasury’s Office of Foreign Assets Control (OFAC) on Monday sanctioned 13 entities and two individuals. They are accused of developing crypto-related services that could facilitate sanctions evasion on behalf of Russian nationals.

Four men accused of carrying out a terrorist attack that claimed the lives of over 130 people appeared in court in Moscow Sunday night as authorities continue to search for survivors and bodies in the now-ruined Crocus City Hall concert venue.The tragedy is considered to be the deadliest terrorist attack on Russian soil in two decades.Dalerdzhon Mirzoyev, 32, Saidakrami Rachabalizoda, 30, Shamsidin Fariduni, 25, and Mukhammadsobir Faizov, 19, have been charged with committing a terrorist attack resulting in the death of others. The offence carries a maximum sentence of life imprisonment.The attack occurred Friday as crowds gathered to watch a performance by Russian rock band Picnic.

Russian crypto industry chiefs have teamed up with business leaders to create a draft bill that could legalize the nation’s booming mining sector.