Russia – NATURALDEPOSIT

China Seeks Russian Policy Support for Chinese Auto Companies

In a bid to bolster collaboration between China and Russia in the automotive sector, Chinese Ambassador to Russia, Zhang Hanhui, expressed China’s desire for policy backing from Russia to facilitate operations of Chinese auto companies within the Russian market, as reported by Chinese state media. Ambassador Zhang conveyed China’s aspirations for robust policy support from …

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Russia Ends Gasoline Export Ban Following Stockpile Surge

News

The Russian Energy Ministry disclosed the lifting of the suspension on gasoline exports, citing a substantial increase in domestic gasoline reserves, a factor contributing to a subsequent decline in prices. The ministry revealed a noteworthy augmentation of approximately 2 million tons in the domestic gasoline stockpile, concurrently resulting in a reduction in prices within the …

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India Temporarily Reduces Crude Oil Imports from Russia for Refinery Maintenance

News

India recently witnessed a temporary decline in its seaborne crude oil imports from Russia in October, primarily due to essential maintenance work undertaken at the country’s refineries. A report has highlighted that India’s maritime crude oil imports from Russia experienced an 11% decrease, averaging 1.58 million barrels per day in October. Notably, Reliance Industries, one …

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India’s Russian Oil Imports Surge to 40%, Shifting the Dynamics of OPEC Share

News

In a significant development in the global oil market, India’s reliance on Russian crude oil has surged to approximately 40% of its total oil imports in the first half of the fiscal year 2023/24, underscoring Russia’s increasing prominence as a critical supplier. This shift in India’s import patterns has been accompanied by a notable reduction …

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US Expands Ban on AI Chip Exports to China, Iran, and Russia

News

The United States, under the leadership of President Joe Biden’s administration, has announced a significant expansion of its export restrictions on artificial intelligence (AI) chips. This move, aimed at enhancing national security, seeks to prohibit the export of AI chips developed by Invidia and various other US technology firms to China. The decision is part …

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Russia and Saudi Arabia to Confer on Oil Market Amidst Israeli Conflict

News

Russia and Saudi Arabia, the world’s two largest oil producers, are scheduled to hold discussions in Moscow regarding the current status of the oil market. These talks take place in the midst of heightened violence and geopolitical instability surrounding the conflict between Israel and the Palestinian armed group, Hamas. Mr. Alexander Novak, Deputy Prime Minister …

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September Sees Crude Oil Prices Surging to Nine-Month High in 2023 as Saudi Arabia and Russia Trim Production

News

In a noteworthy turn of events, crude oil prices experienced a remarkable upswing in September, reaching their highest levels in nine months in 2023. This surge was attributed to several factors, including concerns regarding constrained supply due to Saudi Arabia’s decision to extend production capacity cuts by an additional 1.0 million barrels per day until …

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Russia Lifts Ban on Diesel Exports After Short-Lived Enforcement

News

The Russian government has made the decision to allow the resumption of maritime diesel exports, a mere few weeks after announcing the export ban. The abrupt imposition of the ban had sent ripples through various global markets. In an official statement issued on Telegram, the Russian government announced the reopening of diesel exports, with the …

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Russian Ruble Breaks Through 100 Ruble/Dollar Support Despite Central Bank’s Interest Rate Hikes

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The Russian ruble has breached the psychologically significant support level of 100 rubles to the dollar, despite the Russian central bank’s efforts to curb the depreciation of the currency. This latest development underscores the challenges faced by Russian authorities in stabilizing the ruble’s value. The ruble experienced a 0.5% decline, reaching 100.255 rubles per dollar …

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Japan Halts Most Used Car Sales to Russia Amid Sanctions Fallout

News

In response to ongoing sanctions against Russia due to its actions in Ukraine, the Japanese government has taken the significant step of suspending the sale of most used cars to Russia. This move has far-reaching implications, affecting a trade relationship worth nearly $2 billion annually, with repercussions rippling across international markets. The decision to suspend …

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