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Trafigura sells stake in Russia’s Vostok Oil project to Hong Kong

31 يناير 2022
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Giant Lukoil sells most of its barrels via its Geneva-based subsidiary Litasco, while Gazprom Neft has a trading arm in Vienna. Trafigura has been Rosneft’s strategic partner for more than eight limefx years, during which time it has entered into multiple offtake deals. And in late 2020 it paid around $8.5 billion for a 10% stake in the Rosneft-led Vostok oil development in the Arctic.

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Dealers at Moscow’s commodities exchange working at their computers during hectic trading May 27, 1998. Russian financial markets went into a tailspin on Wednesday, prompting the central bank to raise interest rates by 100 basis points to defend the rouble from intensifying pressure. That’s more than Russia’s daily exports of crude oil, which the IEA estimated at about 4.7 million barrels in 2021.

Services Service Policy Restrictive Database SPRD

BP has promised to sell off its stake in Russian state-backed Rosneft, while Shell is also selling its Russian assets. Last week Vladimir Putin signed a decree that could force Shell to abandon its stake in a huge Russian gas plant. On behalf of the president, Zelenskiy’s chief economic adviser, Oleg Ustenko, asked Vitol to state when it would ship its last barrel of Russian oil and how much oil it would ship until that date.

European energy ministers are expected to discuss next steps at a meeting in France as soon as Monday next week, according to a recent Reuters report. U.S. imports of services from Russia were an estimated $1.8 billion in 2019, 2.2% ($38 million) more than 2018, and 50.6% less than 2009 levels. Leading services imports from Russia to the U.S. were in the transportation, travel, and financial services sectors. U.S. goods and services trade with Russia totaled an estimated $34.9 billion in 2019. The U.S. goods and services trade deficit with Russia was $13.1 billion in 2019.

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Russia is the world’s third biggest oil producer after the US and Saudi Arabia. The US has banned Russian oil imports and the UK intends to phase them out by the end of this year. The shipments in June were made from ports including Ust-Luga near the Estonian border and St Petersburg on the Baltic Sea, and Novorossiysk on the Black Sea. The shipments reached European hubs including Amsterdam and Rotterdam, from where the oil may have been moved on to other countries. Algeria was one of the few major wheat importers to which Moscow had no access until October last year, when Algeria relaxed its terms regarding bug damage.

Shipping Notices

The 1997 PCA remains the general framework for EU-Russia trade relations. Negotiations for a New EU-Russia Agreement started in 2008, but were put on hold in 2010 owing to lack of progress in the Trade and Investment Chapter. In March 2014, the European Council suspended the negotiations due to the Russian military intervention in Ukraine.

Trainees will also receive a written lecture once a week, and this topic will be discussed during the weekly meeting. All trainees will have access to SMB’s tools, they will follow the SMB traders via SMB Real Time, and they can watch the SMB Stocks in Play morning meeting every day as well. A trader looks at a computer display in Moscow’s Interbank Currency Exchange August 26, 1998. MICEX said on Wednesday that spot rouble/dollar trading was null and void for the day following an order from the central bank. Trading was declared null and void in line with a central bank decision, the MICEX said in a statement, after the rouble had earlier slid five percent to 8.26 to the dollar. Traders talk as they stand inside Russia’s Rossiiskaya Birzha Futures and Commodities Exchange June 2, 1998.

This led to the mass privatization of state-owned enterprises as small as a grocery store to as large as giant steel mills – just like in Russia. This also created the class known as the oligarchs, made up of former Communist elites and others with connections in the government who got control over major factories and other key productive assets at little or no cost. Some estimates suggest that over 50% of GDP was controlled by oligarchs. And many IT workers have joined Ukraine’s hacker army aimed at defending infrastructure from cyberattacks or going on the offensive against Russia.

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Nevertheless, the reduction in imports of maize, wheat, rapeseed and sunflower oil and meal from Ukraine has an impact, particularly on feed prices and for the EU’s food industry. With high market prices and inflationary trends resulting from the war in Ukraine, the main concern in the EU remains affordability. Russia’s accession to the WTO in 2012 raised the expectations 101investing that trade with Russia would benefit from sustained liberalisation. Instead, Russia has progressively put in place numerous measures favouring domestic products and services over foreign ones, and incentivising localisation of production in Russia by foreign companies. In 2021, the total trade in goods between the EU and Russia amounted to €257.5 billion.

“You will probably see smaller operators enter the picture who have much less to lose.” But shipping data show that those volumes are starting to drop off as well as more oil is sold directly to end-users, especially in India and China, or via Russian-owned intermediaries in Switzerland and elsewhere. Most Western majors have slashed their purchases of Russian crude in response to the war in Ukraine, leaving large trading firms and a batch of smaller players as the primary buyers among a dwindling customer base. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

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That made it possible to offer wheat from the Black Sea with higher protein. Sign Up NowGet this delivered to your inbox, and more info about our products and services. “Without Russian gas, which is about 40% of their gas supply or their demand for gas, it’s really difficult to see how the market balances without running out of gas.” “Given where prices are right now, and the flows of LNG to northwest Europe, it’s actually a bearish situation barring the complete removal of Russian gas,” he said.

Traders in Focus as Majors Bow Out of Russia

Sometimes trading with the enemy is official policy — as it was during the Crimean War, with the British Cabinet making careful calculations about what commerce with Russia was expedient and wouldn’t assist the Russian war effort. Sometimes governments turn a blind eye — or are collusive — to what smuggling networks and profiteers are doing. In early June a shipment ausforex review of more than 1m barrels of oil from Novorossiysk was chartered to Jamnagar, the Indian oil refinery. India has ramped up imports of Russian oil since the start of the war. The Ukrainian president, Volodymyr Zelenskiy, has called on the world’s largest independent oil trader to stop shipping Russian oil, accusing it of “brazen profiteering from blood oil”.

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In terms ofsolidarity with Ukrainian refugees, member states have implemented a number of measures, such as establishing transport and information hubs at the main border crossings and facilitating humanitarian aid transport. The invasion of Ukraine has had a significant impact on themobility of people and goods in the EUacross all modes of transport. On 19 May 2022, the Council reached a provisional agreement with the European Parliament on a new regulation on gas storage, which was presented by the European Commission in March of the same year. The EU has today adjusted the import quotas included in the EU’s steel safeguard. Today, the Commission published a set of Frequently Asked Questions on export-related restrictions concerning dual-use goods and advance technology items.

Russian financial markets have been subjected to some serious volatility this week on account of escalating military tensions on the border the country shares with Ukraine. Ukraine was expected to make up 12% of global wheat exports in 2022. Egypt, Tunisia and Algeria, for example, depend heavily on Ukraine for their wheat, and there are concerns of famine as a result of Russia’s blockade on ships leaving Ukraine. The picture will only get worse the longer the conflict goes on and if farmers are unable to plant their seeds while war is raging. Since then, trade with Russia has plunged as Ukraine strengthened ties with other countries, most notably those in Europe. The government almost immediately resumed negotiations with the EU over the trade agreement and signed it, which lowered or removed tariffs on most goods and resulted in the EU becoming its biggest trading partner.

Ukraines economy went from Soviet chaos to oligarch domination to vital global trader of wheat and neon

Russia was the United States’ 40th largest goods export market in 2019. SMB is recognized for its success in teaching new and developing traders how to profitably trade equities, options, and develop automated systems. While the situation is dramatically different today, the photos below, from Reuters, offer a glimpse of what it was like on the trading floors in Moscow during the summer of 1998. Live from New York and Hong Kong, bringing you the essential stories from the close of the U.S. markets to the open of trading across Asia.

Please note the exports, imports and tariff data are based on reported data and not gap filled. Veteran natural gas trader Bill Perkins warned Thursday of potentially “catastrophic pricing” this winter if Russia’s move to cut gas supplies to Poland and Bulgaria ends in a full-blown energy blockade. U.S. exports of services to Russia were an estimated $5.1 billion in 2019, 4.8% ($237 million) more than 2018, and 7.7% greater than 2009 levels. Leading services exports from the U.S. to Russia were in the financial services, travel, and intellectual property sectors. Training will include a one-hour meeting every week with an SMB trader who speaks Russian.

Russia has been waging an unjustified and unprovoked war against Ukraine since 24 February 2022. From the start of the invasion, there has been asharp increase in world pricesfor key commodities, in particular fuels. Concerns have grown over the security of both energy and food supply in both the EU and worldwide.

In the face of theweaponisation of gas by Russia, the European Council invited the Commission to urgently pursue efforts to secure energy supply at affordable prices. Today, the EU is requesting consultations with Russia at the World Trade Organization concerning export restrictions placed by Russia on wood products. In February 2022, following further military aggression in Ukraine by Russia, the EU adoptedadditional sanctionstargeting the energy, transport, technology and financial sectors, as well as imposing restrictive measures on individuals. In August 2014, Russia reacted by introducing a political ban on imports of a range of EU agricultural and food products.

Good Business

The board of directors of Rossiiskaya Birzha will hold a meeting on Tuesday to discuss its settlement problems, including standard bankruptcy procedures, a trader at the exchange said. As a result, Ukraine began to send a wider range of goods to the world, especially agricultural products such as wheat and sunflower oil, which was its biggest export ahead of base metals in 2019. Ukraine inherited a “command economy” when it became an independent state after the dissolution of the Soviet Union in 1991. In a command economy, all decisions involving production, investment, prices and incomes are determined centrally by a government.

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