The new price cap on petroleum products is due to take effect on 5 February 2023, alongside an EU ban on seaborne imports of refined products originating from Russia.
January 5, 2023The US imposed new sanctions against Russian FIs and the country's richest businessmen. The European Council adopted a ninth sanctions package against Russia.
December 19, 2022EU ban on seaborne crude oil imports from Russia to take effect. G7 oil price cap will only insurers to cover vessels carrying Russian crude sold under USD 60.
December 4, 2022CFFEX, ZCE, SHFE, INE and DCE opened more futures and options products to foreign investors. New derivatives products are also being developed.
September 3, 2022An Indian vessel picked up oil from a Russian tanker at sea, then brought it to an Indian port to be refined and shipped on to New York.
August 22, 2022Reviews underway cover concentration risk in OTC derivatives markets, risk management at futures brokers, and block trading practices.
June 30, 2022The US is targeting more Russian government and business officials and technology. The EU approved an embargo on seaborne oil imports.
June 3, 2022The EU's sixth package of sanctions will also include the removal of three more banks from the SWIFT network and asset freezes against more Russian individuals.
June 1, 2022Three more Russian banks will be removed from SWIFT, three broadcasters will be blocked, and more military officers and individuals will be sanctioned.
May 5, 2022EU adds 160 names to sanctions list, extends SWIFT ban to Belarus; New Zealand passes Russia Sanctions Bill. Fitch projects “imminent" sovereign default.
March 10, 2022