Page 2 - Russian Commodities News Today

Japan's reliance on Russian energy means it can't cut ties with Moscow, Itochu's CEO told the FT — but there are ways Russian can keep exporting despite sanctions.

But the September imports of 1.83 million barrels per day are lower than in August, as worries persist about the impact of Chinese economic slowing on demand.

Europe faces an energy crisis this winter as Russia supplies about 40% of Europe's natural gas, most of which is transported via pipelines.

Germany's government released another $2.5 billion of credit to secure alternative gas supplies before winter as Russia chokes off deliveries.

Germany shelved the Nord Stream 2 project days before Russia invaded Ukraine. Construction was completed last year, but it hasn't gone live.

Germany said the seizure "counteracts the impending threat to the security of the energy supply" after Russia slashed natural gas supply to Europe.

Greece currently has only one LNG facility that supplies the Greek market, as well as Bulgaria — also an EU country — and North Macedonia.

Some EU members are worried Moscow will completely shut down all gas flows to Europe, while others say a cap on only Russian gas won't bring prices down.

"Any actions to impose a price cap will lead to deficit on (initiating countries') own markets and will increase price volatility," Russia said.

"If they impose it, we simply will not supply our oil and oil products," Russian Deputy PM Alexander Novak said of G7 plans for a crude price cap.