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Iran oil minister said on Sunday that US seizure of Iranian tankers in recent months hasn''t stopped the sanctions-hit country from increasing oil e

Iran said on Saturday that US attempts to seize its tankers and oil cargo had failed to stop exports that are subject to sanctions imposed by its arch foe.

The West is scrambling to slash its energy ties with Russia as it persists with its brutal invasion of Ukraine. The UK has now committed to phasing out oil imports by the end of the year. And the EU’s plot to slash Putin’s oil and gas was detailed in its new energy strategy was published […] Energy crisis: PM handed ‘cake and eat it’ plan to CUT Russian ties and slash home bills

Oil and war have been inextricably linked for decades, and Ukraine is no exception. And as the west seeks to put ever greater economic pressure on Vladimir Putin, the US announced a ban on importing Russian oil. The UK government said it too would aim for a similar stance. And while the EU may also […] The post Russia still has Europe over an oil barrel appeared first on Asia Times .

Ukrainian President Volodymyr Zelenksyy pleaded with Congress last weekend that if the US was unwilling to impose a no-fly zone, it should at least send the planes and other air support

The German government, working to reduce the country''s dependence on Russian oil and gas, discussed energy supplies with Qatar, the federal chancellery''s state secretary said on Saturday.

The US seizure of Iranian tankers in recent months has not stopped sanctions-hit Tehran from increasing oil exports, Iran’s oil minister was quoted as saying on Saturday. “The United States has on several occasions in the past months violated Iranian oil tankers to prevent export of shipments,” Javad Owji said in an interview carried by Iranian media. “When the enemy realised it could not stop our exports and contracts, they went after our ships,” Owji said. His remarks follow reports of a recent seizure of an Iranian oil tanker in the Bahamas, even as indirect Iran-US talks in Vienna to revive a 2015 nuclear deal could see the lifting of US sanctions in return for Tehran curbing its nuclear work. Iran’s leader says Ukraine is ‘victim’ of US policy A last-minute demand by Russia, a close ally of Iran, has forced world powers meeting in the Austrian capital to pause for an undetermined time, despite having a largely completed text. On March 5, Russia unexpectedly demanded sweeping guarantees its trade with Iran would not be affected by sanctions imposed on Moscow over its invasion of Ukraine - a demand Western powers say is unacceptable and Washington has said it won’t accept. “Iran’s oil exports have risen under the toughest sanctions and without waiting for the outcome of the Vienna talks,” said Owji.

Rivers State Governor, Barrister Nyesom Wike has donated 14 Ballistic gun boats to security agencies in the state . The donation was his resolve to improve the security of lives and property in the state . However, Commandant- General, Nigeria Security and Civil Defence Corps(NSCDC), Mr.Ahmed Abubakar Audi, has commended Wike for his resolve to improve the security of lives and property of citizens through empowerment of security agencies to deliver on their assigned mandates. Dr Audi, also congratulated security agencies in the state who received the gunboats,saying that the gesture would go along way in fighting crime and criminality, especially act of sabotage in the oil industry which has taken its toll on the socio economic development of the Niger Delta Region. He said that as the lead agency in the protection of critical national assets and infrastructure, the gunboats could not have come at a better time than now that NSCDC has renewed it’s onslaught against vandals, oil thieves and illegal oil bunkerers who are mostly armed with heavy weaponry against security agencies.

(Bloomberg) --

Goldman Sachs warns Russia''s war in Ukraine could result in the fifth largest one-month disruption in global commodities markets since World War II.

The US seizure of Iranian tankers in recent months has not stopped sanctions-hit Tehran from increasing oil exports, Iran''s oil minister was quoted as saying on Saturday. “The United States has on several occasions in the past months violated Iranian oil tankers to prevent export of shipments," Javad Owji said in an interview carried by Iranian media. "When the enemy realized it could not stop our exports and contracts, they went after our ships," Reuters quoted Owji as saying. His remarks follow reports of a recent seizure of an Iranian oil tanker in the Bahamas, even as indirect Ira

The U.S. seizure of Iranian tankers in recent months has not stopped sanctions-hit Tehran from increasing oil exports, Iran’s oil minister was quoted as saying on Saturday. “The United States has on several occasions in the past months violated Iranian oil tankers to prevent export of shipments,” Javad Owji said in an interview carried by […]

Transport firms urge government to act as rising petrol and diesel prices threaten profitability UK businesses reliant on fuel are braced for plummeting profits, as prices at the pump hit yet another record this week, with the cost of petrol topping £1.60 a litre for the first time. Unleaded petrol hit £1.61 a litre on Thursday, having risen by 8p in a week, while diesel reached £1.70 a litre, as wholesale prices for oil remained close to all-time highs after western countries announced bans on Russian energy exports . Continue reading…

Mohsen Khojasteh Mehr, head of the National Iranian Oil Company (NIOC), has said that his country is ready to supply the required oil for the world market and stabilise prices.

Domestic market began the week in a bearish mood, but appeared to be regaining lost ground as tensions between Russia-Ukraine began to de-escalate. While the worst may seem to be over, a prolonged rise in inflation could be lurking around the corner as multiple sanctions placed on Russia have sparked an unbridled rally in commodity prices. India, though is better equipped, is certainly not immune to these events. According to third-quarter GDP statistics, Indian industry grew at a tepid rate, mainly attributed to sluggish domestic demand. Slower government investment and weak rural demand hampered growth, with agriculture being a key dragger as it recorded the lowest growth over the previous 11 quarters. In fact, as a huge portion of our population is battling with stagnating or decreasing incomes and rising living costs, the present visible private demand is emanating from the top of the pyramid. This, coupled with sustained high inflation, may indicate the evolution of a stagflationary situation where the economic growth momentum slows.If the un-abating rise in commodity prices were to go on, it would force the companies across sectors to pass on some hikes to the end consumer in order to protect their margins.