Russian Commodities News Today

The aged vessels are vulnerable to faults like engine failures and pose safety risks to crews and the environment, according to the Washington Post.

"The interaction between these two countries will be much longer than the naysayers might assume, because there's a mutual interest in having it longer," Kpler analyst Viktor Katona told Insider.

A cargo carrying 600,000 barrels of Russian crude has made its way to Ghana where it was due to be pumped into storage tanks at the Tema Oil Refinery.

Russia said it deems the destruction of the key Nord Stream gas pipelines an "act of international terrorism," and wants the US to prove they weren't involved.

The new stablecoin would replace the dominant US dollar and other government-issued currencies in international trade, according to Vedmosti.

"Essentially, I guess it will be more difficult for Russia to find a market for all these barrels, and that means lower Russian production," a UBS analyst aid.

Russia's Deputy Prime Minister said he welcomed India's decision to oppose the G7 price cap and offered to help the country build large oil tankers.

An EU price cap on Russian crude oil exports came into effect on Monday. Shipping insurance providers need to abide by the new rules.

Poland, Lithuania and Estonia want a limit of $30 a barrel on Russian seaborne crude, putting the EU plan in deadlock just days away from the ban.

An EU embargo on refined Russian oil products like diesel will kick in February, spurring the continent to hoard supplies now.