NEW YORK (AP) — With Russia intensifying its war on Ukraine, killing civilians and triggering a mass refugee crisis, President Joe Biden on Tuesday announced a U.S. ban on imported Russian oil. Critics of Russia have said that sanctioning its energy exports would be the best — perhaps only — way to force Moscow to…
LONDON (AP) — Shell said Tuesday that it will stop buying Russian oil after Ukrainian officials criticized the energy giant for buying a shipment of crude from Moscow and demanded that all multinational companies sever ties with Russia over the war. The move came hours before the U.S. and British governments banned Russian oil imports….
By Koustav Samanta SINGAPORE (Reuters) – Global jet fuel prices have surged to near 14-year highs in line with crude oil’s surge on supply shortfall worries, slamming air carriers and travellers with steep cost increases just as air travel was starting to recover from COVID-19 restrictions. Oil prices have soared to their highest since 2008…
By Francesco Guarascio, Jan Strupczewski and John Chalmers BRUSSELS (Reuters) – The European Commission has prepared a new package of sanctions against Russia and Belarus over the invasion of Ukraine that will hit additional Russian oligarchs and politicians and three Belarusian banks, three sources told Reuters on Tuesday. The draft sanctions were adopted by the…
MILAN (Reuters) -Shares in Telecom Italia (TIM) bounced more than 10% on Tuesday after an Italian newspaper reported that U.S. fund KKR was still interested in a takeover deal, albeit at a lower price. KKR could confirm its interest in a deal but at a price of around 0.40 euros per share, Italian daily Il…
By Nick Carey and Christina Amann LONDON (Reuters) -Saving up for a new ride? Better start putting more cash aside. Russia’s invasion of Ukraine is ramping up the price of metals used in cars, from aluminium in the bodywork to palladium in catalytic converters to the high-grade nickel in electric vehicle batteries, and drivers are…
By Noah Browning, Simon Jessop and Balazs Koranyi LONDON (Reuters) – The possibility that the United States might ban Russian oil imports has triggered a surge in Brent crude to almost $140 a barrel, its highest level since 2008. Russia is the world’s top exporter of crude and oil products combined, at around 7 million…
BEIJING (Reuters) -U.S. electric vehicle maker Tesla Inc sold 56,515 China-made vehicles in February, including 33,315 for export, the China Passenger Car Association (CPCA) said on Tuesday. Tesla, which has made Model 3 sedans and Model Y sport-utility vehicles in Shanghai since 2019, sold 59,845 China-made vehicles in January. Chinese NEV maker Nio Inc delivered…
By Sonali Paul and Mohi Narayan NEW DELHI (Reuters) – Oil prices rose on Tuesday, with Brent surging past $126 a barrel, as fears of formal sanctions against Russian oil and fuel exports spurred concerns about supply availability. Benchmark Brent crude futures for May climbed $3.07, or 2.49%, to $126.28 a barrel at 0756 GMT….
By Aditya Kalra and Abhirup Roy NEW DELHI (Reuters) – For more than a year, Amazon.com Inc and India’s Future Group have been locked in a complex legal stand-off that has stalled Future’s $3.4 billion sale of assets to rival Reliance Industries <RELI.NS>, the country’s biggest conglomerate. After trading barbs in courtrooms for months, Amazon…
